ScotLend uses AVM for London bridging loan completion
By Tara SammonsFunds were released within four working days
Section: Case Studies
ScotLend Group has completed a £178,176 bridging loan secured against a property on City Road in London, with funds released four working days after instruction.
The borrower required the loan to support business cashflow and consolidate existing liabilities.
With a clear requirement for the funds to be made available quickly, ScotLend assessed the property using an AVM rather than commissioning a physical valuation.
The loan completed at 30% LTV.
The case was handled directly by ScotLend’s underwriting and legal teams, allowing each stage of the transaction to move forward without unnecessary delays.
David Travers, founder of ScotLend Group (pictured above), said: “This was a straightforward, well-supported case, but the timescale mattered.
“The low leverage and clear security position allowed us to use an AVM and move quickly from instruction through to completion.
“Four working days is a strong result, but it came down to the basics being right: clear information, direct communication and sensible underwriting.”
Keywords: ScotLend Group, David Travers, London bridging loan, City Road London property, AVM property valuation, 30 percent LTV loan, fast bridging finance, business cashflow funding, debt consolidation loan, bridging loan completion, property backed lending, low LTV bridging loan