Specialist lender Lendco has released a refurbishment bridging product for both light and heavy works.
The loan will allow for day one borrowing up to 75% loan to gross development value (LTGDV) followed by a refurbishment facility for 100% of works up to 70% LTGDV.
Terms of up to 24 months are available on bridging loans up to £4m.
Alex King, executive director at Lendco, said: “I am delighted to launch this latest addition to our suite of products; it’s a further step towards our ambitions of offering end-to-end lending solutions for property investors.”
Lendco also announced the appointment of Graham Palmer as business development specialist, to boost awareness of the lender’s proposition among brokers. He has worked for the lender for over three years and was previously a broker sales executive.
King added: “Graham has proven himself to be a valuable member of our sales team. I am confident he will be very successful in helping brokers understand our unique position and how they can benefit from one or a combination of our products.”
LendInvest Mortgages launches dual representation for bridging deals
LendInvest Mortgages has introduced dual representation for bridging loans, making the feature available across its entire product range.
This has been powered by the LendInvest portal and is expected to offer borrowers more flexibility and efficiency when managing their bridging deals.
With dual legal representation, borrowers will be able to choose a law firm to act on their behalf and LendInvest’s.
This helps to streamline the legal process, speed up completion and reduce costs by removing the need for multiple legal representatives.
Leanne Ardron, director of bridging at LendInvest, said: “Our dual representation option is designed to provide our customers with enhanced convenience and cost savings. By utilising dual representation, we can significantly speed up the bridging process, enabling our customers to complete their projects faster and more efficiently.
“This is another example of how our mortgages portal is driving innovation and improving the overall customer experience.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
