Facilities allow for day-one loans of up to 75% followed by a refurbishment facility for 100% of works to a maximum loan of 70% LTGDV.
The product caters for loans of up to 24 months in duration and carries a maximum loan of £4m.
Meanwhile, the lender has promoted Graham Palmer to the role of business development specialist, a move designed to bolster broker awareness of its complete bridging proposition.
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Alex King, executive director at Lendco (pictured above), said: “I am delighted to launch this latest addition to our suite of products, it’s a further step towards our ambitions of offering end-to-end lending solutions for property investors.”
Commenting on Graham’s appointment, Alex said: “Graham has proven himself to be a valuable member of our sales team, I am confident he will be very successful in helping brokers understand our unique position and how they can benefit from one or a combination of our products."
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