London Credit has announced a five percentage point rise in the maximum loan to value (LTV) for semi-commercial bridging loans, increasing from 65% to 70%.
In addition, London Credit has also updated its valuation methodology, now basing lending decisions on open market value (OMV) rather than 180-day valuations.
The bridging lender believes that these two changes will enable brokers to access higher leverage for their clients, whether they are looking to expand their portfolios or refinance existing assets in the specialist lending market.
Marios Theophanous, credit manager at London Credit, said: “Brokers need accessible lending solutions to meet the requirements of their clients. That’s why London Credit has increased the maximum LTV for semi-commercial properties to 70% and introduced open market valuations.
“These enhancements provide brokers with the opportunity to secure greater leverage for their clients on semi-commercial property assets, whether it’s for purchases, refinance, or investment opportunities.”
