Lendco has added to its bridging offering with new products for both light and heavy refurbishment.
Facilities allow for day one loans of up to 75% followed by a refurbishment facility for 100% of works to a maximum loan of 70% loan-to-gross-development-value (LTGDV).
The product caters for loans of up to 24 months in duration and carry a maximum loan of £4m.
Alex King, executive director at Lendco, said: “I am delighted to launch this latest addition to our suite of products, it’s a further step towards our ambitions of offering end-to-end lending solutions for property investors.”
At the same time the lender announced that it has promoted Graham Palmer to the role of business development specialist, a move designed to bolster broker awareness of its complete bridging proposition.
King added: “Graham has proven himself to be a valuable member of our sales team, I am confident he will be very successful in helping brokers understand our unique position and how they can benefit from one or a combination of our products.”
