The automated lender will generate heads of terms, online applications and case tracking as part of a fully digital process. Bridging is available for any non-regulated purpose up to a maximum LTV of 75%.
Lendlord users who manage their portfolios using the platform will be able to quickly review their bridging options based on the data already held on their portfolio – and Lendlord users will also benefit from better terms.
Currently, bridging loans are only available directly to landlords, but Lendlord is looking to bring out a solution for brokers in the near future.
Aviram Shahar, Co-Founder and CEO at Lendlord, comments: “This is a big step for Lendlord as we work towards building a one-of-a-kind technology solution to generate tailor-made financial products based on a user’s individual profile. Our engine-based bridging finance product will analyse a case and determine the terms, based on a user’s specific circumstances.
"It complements our existing Finance Hub, which provides automated recommendations for a range of financial products including Buy to Let mortgages and remortgages, bridging finance, secured loans, revolving credit for portfolios, commercial finance and landlord insurance.”
