Recognise Bank has announced that it has increased the loan-to-value (LTV) available on its buy-to-let and residential bridging finance from 75% to 80%, effective immediately.
The bank has also introduced short-form and automated valuations (AVMs) on selected residential bridging cases, a move aimed at streamlining customer journeys and improving speed of service.
Recognise Bank's bridging proposition covers a broad range of residential and commercial property types, including:
- Buy-to-let portfolios
- HMOs
- Mixed-use and semi-commercial assets
- Commercial investment properties
- Owner-occupied businesses
Rates across the bridging range start from 0.77% per month. The bank structures its bridging solutions to support scenarios such as light refurbishment, development exits, auction purchases and time-sensitive transactions, spanning both residential and commercial assets. Recognise Bank has expanded its lending proposition and operational capacity over recent months, part of a wider effort to support brokers, property professionals and SMEs across the UK.
Luke Watson, director of intermediary sales and lending at Recognise Bank (pictured), outlined the thinking behind the increase. "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," he said.
"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."
