Loans are now available at up to 75% loan-to-value
Bridging lender London Credit has announced an increase in the maximum loan-to-value (LTV) ratio for its residential loans to 75%.
This move marks an adjustment from the previous maximum of 70%, offering loans up to a maximum size of £1 million for properties located within London zones 1 to 4 to borrowers who possess additional assets.
London Credit provides bridging loans ranging from £100,000 to £3.5 million on residential, commercial, and semi-commercial properties. It primarily operates in London, the South East, and major cities across the UK.
The loans are available for periods ranging from three to 18 months and cater to various needs such as product refurbishment, auction finance, and capital raising. For commercial and semi-commercial loans, the maximum LTV remains at 65%.
“At London Credit, we are always looking at ways we can improve the support we offer to brokers and their clients,” said Marios Theophanous (pictured), credit manager at London Credit.
“We recently launched our Best 4 U promotion that enables brokers to choose an offer of either legal fees, valuation fees or rate. And now, we have increased our maximum LTV on residential loans, providing property investors with the opportunity to achieve greater leverage.”
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