Bridging lender SDKA has completed its first Automated Valuation Model (AVM) deal just 10 working days after launching the new service, finalising a £128,450 drawdown at 70% loan-to-value (LTV) for an auction purchase.
The loan, introduced by Raj Huque at HCA Finance, was used by an existing client to acquire a three-bedroom end-terrace property in Leeds.
The home will be refurbished and placed on the rental market, with exit via a buy-to-let refinance.
The serviced facility was completed at a rate of 0.95% per month over a 12-month term.
Launched two weeks ago, SDKA’s AVM service is designed to accelerate time-to-cash for first-charge residential purchase transactions.
The lender uses Hometrack technology, which applies AI-driven market intelligence and 25 years of property data to support valuations.
As part of its approach, SDKA also requires all clients to complete a video walkaround of the property with one of its underwriters, helping to combine digital efficiency with hands-on due diligence.
Kunal Mehta (pictured), managing director of SDKA, said: “The case was literally introduced to us on the day we launched the service, and it already stands as a prime example of how we will utilise our residential AVM systems and procedures to ensure quick and easy drawdown times to meet our clients’ needs.”
