B&C’s reader poll showed that 24 per cent of respondents felt higher LTVs was what the lending market lacked.
Joe Breeden, Director of Crystal Mortgages, said: “It was great to see InterBay launch their 85 per cent LTV product last week as this provided a well needed boost in the market. Lenders are now showing much more of an appetite for business, which for a packager is much more important than just a higher LTV or transparency.”
However, it is still prudent to exercise caution in the market.
Andrew Hosford, Director of Voltaire Bridging said: “I do think that LTVs restrict deals but an increase across the board is probably not good for the market. It really depends on the deal and what the realistic exit for the bridge is. If it is a refinance, say with a high street lender, then the bridger is right to have a lower LTV. Lloyds, NatWest, Barclays or HSBC are highly unlikely to take out a bridge at 90 per cent LTV after all.”
The second most important improvement voted for in the readers’ poll was more transparency, sitting with 22.5 per cent of the overall vote.
According to the pole, consistency was also considered of high importance, sitting just shy of a fifth of the votes, at 19 per cent.
The other notable percentage factor of the vote went to wider criteria, which took 16 per cent.
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