Lendco has expanded its bridging offering with the launch of renovation products for both light and heavy renovations.
The facilities enable day one lending of up to 75%, followed by a renovation facility for 100% of the works up to a maximum loan of 70% loan on gross development value (LTGDV).
The product is suitable for loans with terms of up to 24 months and a maximum loan amount of £4 million.
Alex King, Executive Director of Lendco, said: “I am delighted to launch this latest addition to our product offering. It is a further step towards our ambitions to provide end-to-end lending solutions for real estate investors.”
In addition, the lender has promoted Graham Palmer to the role of business development specialist.
Palmer has been with Lendco since April 2021 and has served as a broker-sales manager since his arrival.
King said: “Graham has proven 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.”