The AVM product is available at a gross 65% LTV on loans of up to £750,000, with a Hometrack confidence level of ‘5’ or above — qualifying loans are available from 0.74% per month.
Meanwhile, straightforward bridging transactions have a reduced pricing, available at up to 75% LTV, on loans under £750,000, starting from 0.69% per month.
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Alex King, executive director at Lendco (pictured above), said: “We’re delighted to further support our intermediaries with these modifications to our product range.
“The use of AVMs is not new in the bridging market and we felt it was important that we added this tool to our armoury. We’ll now be able to process some more time sensitive applications with greater speed, I expect we’ll be able to complete eligible deals in a matter of days.”
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