Recognise increases residential bridging to 80% LTV

Recognise Bank has increased residential bridging finance from 75% LTV to 80%, with immediate effect.

The lender is also introducing the use of short-form and automated valuations on selected residential bridging cases.

Recognise’s bridging proposition supports a wide range of residential and commercial property types, including BTL portfolios, HMOs, mixed-use and semi-commercial assets, commercial investment properties and owner-occupied businesses, with rates starting from 0.77% per month.

The bridging solutions across residential and commercial assets allow a range of scenarios such as light refurbishment, development exits, auction purchases and time-sensitive transactions.

“We can now support up to 80% LTV on the right residential bridging opportunities, providing greater leverage and helping clients access more of the capital they need to achieve their objectives,” said Luke Watson, director of intermediary sales and lending at Recognise Bank (pictured above).

“Our enhanced LTV offering is designed for well-presented residential properties with strong appeal to owner-occupiers and investors and that can be readily marketed and sold if required.”