"We have increased our maximum LTV on residential loans, providing property investors with the opportunity to achieve greater leverage."
- Marios Theophanous, credit manager at London Credit
London Credit has increased its maximum LTV to 75%.
The bridging lender has increased the maximum LTV on its residential loans from 70% to 75%.
Loans up to 75% LTV are available on a maximum loan size of £1m, on properties in London zones 1 to 4, where the borrower has access to additional assets.
London Credit provides bridging loans from £100,000 to £3.5m on residential, commercial and semi-commercial properties in London, the South East and major cities, with terms from three to 18 months. Loans can be used for a range of circumstances, including product refurbishment, auction finance and capital raising. The maximum LTV on commercial and semi-commercial loans is 65% LTV.
Marios Theophanous, credit manager at London Credit, said: “At London Credit, we are always looking at ways we can improve the support we offer to brokers and their clients. We recently launched our Best 4 U promotion that enables brokers to choose an offer of either legal fees, valuation fees or rate. And now we have increased our maximum LTV on residential loans, providing property investors with the opportunity to achieve greater leverage.”
