StreamBank has reduced its bridging rates, with loans now starting at 0.59%, as bridging, development and commercial lenders look for a year of growth.
The lender has also tightened its AVM and desktop valuation criteria.
The company will now consider AVMs of up to 75% in certain circumstances, and offer desktop valuations for properties up to £2 million.
Roz Cawood, director of real estate finance at StreamBank, said: “Bridge finance continues to play an important role in helping agents and investors act quickly when opportunities arise, and we expect to see further growth in activity in the coming year.”
“By lowering our rates and increasing the property values we lend against, we are giving brokers more flexibility in structuring deals for their clients.”
In January, StreamBank appointed Lorenzo Satchell as Director of National Accounts.