Lendco enhances its bridging loan offer with AVMs and lower rates

By Bridging Loan Directory 16th December 2024

Specialist lender Lendco announced today the introduction of AVMs (automated valuation models) to its bridging loan offering and the drop in rates on simple residential acquisition transactions.

The AVM product is available at a gross 65% LTV on loans of up to £750,000, with a Hometrack confidence level of 5 or above.

Qualifying loans are available from 0.74% p/m.

Reduced pricing on straightforward bridging transactions is available at up to 75% LTV, on loans under £750,000, starting from 0.69% p/m.

Alex King (pictured), Executive Director at Lendco, said:

“We’re delighted to further support our intermediaries with these modifications to our product range.

The use of AVMs is not new in the bridging market and we felt it was important that we added this tool to our armoury.

We’ll now be able to process some more time sensitive applications with greater speed, I expect we’ll be able to complete eligible deals in a matter of days.”

The bridging space is a competitive one and with us very keenly priced on the more vanilla residential transactions I expect us to be front and centre of broker’s thoughts when they are placing such deals.”