Catalyst launches temporary bridging product range
By Andreea DulgheruCatalyst Property Finance has introduced a temporary bridging product range to keep options open for bridging borrowers
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The new products are limited to 60% LTV, with a maximum loan size of £5m.
The loans are designed for residential properties in major towns and cities only.
However, Chris Fairfax, CEO at Catalyst Property Finance (pictured above), said that the credit team would consider light refurbishment applications for the time being.
The bridging and development lender will also offer first and second charge loans.
The products are designed for borrowers in need of bridging finance during the Covid-19 crisis.
“We continue to complete loans and have an appetite to lend, but under restricted criteria, temporarily,” commented Chris.
“We are nimble and adapting daily to ensure loans can be processed as smoothly as possible.
“My team and I will always be open and honest with brokers and clients about the support we can offer, which is why we are publishing our restricted product for all to see — no smoke, no mirrors — and no false expectations set.”
Keywords: catalyst property finance, temporary product range, short-term finance, bridging borrower, ltv, loan to value, maximum loan size, residential loan, residential property, chris Fairfax, bridging finance, covid-19