Principal lender, Catalyst Property Finance, today announced that it is launching a new range of short-term finance options for Standard Bridging, Development Exit Finance and Light/Medium/Heavy Refurbishment. The lender will offer loans from £50,000 with up to 24-month terms for property in England and Wales.
Chris Fairfax, pictured, CEO, Catalyst Property Finance says:
“We’ve been planning this launch for the last few weeks but wanted to make sure all the team were back at work and ready to give the very best support available to brokers and their clients. This is an exciting range which is much needed in the short-term finance market today. Clearly, there is pent up demand from brokers and borrowers who have property projects on hold or about to begin. Unlike many lenders, we are now able to lend up to 75% of Current Market Value for first charge loans and up to 65% of 180 Day Value for second charge.
My team is ready to provide competitive terms within the hour; loans are available from £50,000 and for up to a term of 24 months. We are underwriting residential and semi-commercial property. And to assist borrower’s cash-flow, interest payments can be serviced, retained or part/part. We are also offering stage payments that are drawn against costs, not value, this will be assessed by QS or Asset Manager depending on the loan. Importantly, fast-track completions are available when the necessary documentation is provided. We are ready to provide the funding needed to help get the property market moving again.”