Specialist lender Funding 365 has launched a new bridging product designed to accelerate funding times by using automated valuation models (AVMs) for residential properties in England and Wales.

The product, which is available for unregulated first charge loans of up to £1 million, targets borrowers seeking a swift execution.

By replacing traditional physical valuations with AVMs, Funding 365 aims to remove one of the key bottlenecks in the bridging process.

Available on standard residential (C3) properties, the loan is structured for terms of up to 18 months, with rates starting from 0.79% per month.

The lender has set maximum loan-to-value limits of 55% for refinances, 65% for standard purchases, and up to 75% for purchases involving borrower-funded refurbishments.

loans require a Hometrack AVM with a confidence level of five or higher.

Mike Strange (pictured), director at Funding 365, said: “We’re well known for our ability to process bespoke loans at high speed thanks to our streamlined team, principal-led funding and expert partners who share our vision.

“ Our new AVM Bridge product removes one of the remaining factors which can slow down delivery, providing a valuable option when a fast execution is crucial.”