Cheval ups its maximum LTV

Cheval ups its maximum LTV



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Bridging lender Cheval has increased its maximum loan-to-value on residential first charge loans - the new upper limit will now be set at 75 percent.

The higher LTV attracts an interest rate of 1.5 percent per month and is available with both FSA and non-FSA regulated loans. The standard first-charge rate of 1.25 percent per month continues to apply to all loans with LTVs of 70 percent or less.

They have also made the decision to open up the deal to the whole country, as there will be no restrictions attached when it comes to the new maximum LTV. Cheval have assured borrowers and brokers they will be treating all applications on an indiviual basis and the new maximum will be subject to all standard underwriting requirements and fees.

Gavin Diamond, Finance Director of Cheval, said: “The new LTV is designed to make Cheval’s bridging proposition particularly attractive to intermediaries and their clients.  Our competitors are going to find it hard to beat as, unlike many short-term finance providers, we are not limiting our best deals to the South-East or within the M25.”

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