Cheval ups its maximum LTV
By Bridging Loan Directory -
Bridging lender Cheval has increased its maximum loan-to-value on residential first charge loans to 75%.
The higher LTV attracts an interest rate of 1.5% per month and is available with both FSA and non-FSA regulated loans. The standard first-charge rate of 1.25% per month continues to apply to all loans with LTVs of 70% or less.
No geographical restrictions are placed on the new maximum LTV, which is subject to all standard underwriting requirements and fees.
Gavin Diamond, Finance Director of Cheval, said:
“The new LTV is designed to make Cheval’s bridging proposition particularly attractive to intermediaries and their clients. Our competitors are going to find it hard to beat as, unlike many short-term finance providers, we are not limiting our best deals to the South-East or within the M25.”