MT Finance has announced the introduction of automated valuation models (AVMs) into its bridging finance range.
AVMs, provided in partnership with Hometrack, will be available for qualifying regulated and unregulated bridging finance applications, with a maximum loan-to-value (LTV) of 60% and a property value cap of £750,000.
The incorporation of AVMs is expected to accelerate transaction processes and enhance application efficiency.
This development follows MT Finance’s recent procurement of an additional £500m funding facility from J.P. Morgan in November 2023, aimed at bolstering its lending capacity in the UK short-term finance market.
Joshua Elash, founding director at MT Finance, said: “Offering AVMs is something we’ve been wanting to do for a long time, and I’m very pleased we’ve made it happen.
“We knew from discussing the matter with our intermediary partners how important AVMs are as they significantly speed up a transaction and provide ever-crucial certainty to clients.
“We will now be able to move even quicker than ever and continue to deliver the exceptional service that has become our hallmark.”
Paul McGonigle, CEO of Positive Lending, added: “It’s great news to see that MT Finance has enhanced its criteria with AVMs to support intermediaries.
“In a time where speed can be the key factor, coupled with the assurance of the lend from the outset, it cements an already fantastic partnership that we share.
“The team are always looking to expand their proposition and service delivery, and this ticks those boxes perfectly.”
You can find out more about MT Finance’s new AVM offering here.
