Specialist bridging lender Catalyst Property Finance has increased its refurbishment allowance to 100% of day one value.

The limit was previously 75%.

Chris Fairfax, managing director at Catalyst Property Finance, said: “Our new business team are receiving a number of very credible refurb bridging opportunities that sit above our previous limit of 75% of day one value.

“This, combined with the performance of our existing refurbishment loan portfolio, presents a clear opportunity for us to support an increase to 100% of day one value. In turn, this opens up more opportunities for intermediaries and their property clients.

“As 2020 comes to an end, Catalyst want to further support the UK’s property sector as best we can, with a view that we all hope 2021 will be a more stable and prosperous year.”