CSBF removes external valuations on short-term loans

CSBF has waived the requirement for third-party valuations on certain deals.

Instead, the lender will conduct its own internal inspection for straightforward transactions on commercial or residential investment properties with low LTVs in and around major urban areas. 

The change will benefit borrowers by removing valuation fees and speeding up the overall lending process, as there is no need to wait for an external organisation to arrange a visit and report back.

Recently, the business applied the changes to several cases, including a £1.3m bridging loan for a mixed-use property in Camden, London, a £1.1m loan on an investment property in east London, and an owner-occupied office block in Kingston, Surrey, for £218,000. 

Jourdan Rajwan, director at CSBF (pictured above), said: “We are pleased to be able to roll out our no-valuation loans. 

“The last few months have shown that they are popular with borrowers as they not only speed up the process but save them some money as well. 

“We already have some additional loans in our pipeline which will meet these criteria, and we hope that we can provide these for a growing proportion of our loans as we continue to expand our offering.”

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