Specialist lender Catalyst has launched a “Go Dutch” initiative the place it should pay 50% of bridging debtors’ valuation charges upfront as much as a most of £1,500 together with VAT.
Catalyst’s restricted supply on valuation charges is available on all bridging loans throughout May and June.
Qualifying mortgage merchandise are on a regular basis bridging, refurb with a cost of works beneath 10% of on market worth and no structural alterations growth exit finance, public sale finance and ‘Latitude’ purchase to let (BTL).
Loans have to be between £500,000 and £5,000,000, first cost solely, buy or refinance, and qualifying property are residential property and semi-commercial with a residential factor of fifty% or extra.
Chris Fairfax (pictured), CEO at Catalyst, mentioned: “Building on our foundations as a disruptive specialist lender, we’re excited to launch a promotion that demonstrates Catalyst’s skill to supply brokers with one thing contemporary and thrilling for his or her shoppers.
“While many lenders, ourselves included, have run valuation fee refund promotions in the past, this is different; we are paying upfront. As soon as the borrower pays towards their valuation fee, Catalyst contributes too.”
He added: “We wish to supply one thing significant, an answer that can resonate with brokers as a superb alternative for his or her shopper to avoid wasting money whereas nonetheless benefitting from our aggressive and high-leverage bridging choices.
“We understand that valuations are often the largest upfront cost involved in bridging finance, and we feel now is the right time to help reduce costs for our borrowers and truly align ourselves with our customers.”
Catalyst just lately secured £750m in funding strains to again its short-term bridging and refurbishment merchandise.
Anna is presently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has labored as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She began her profession as a report at specialist publication The Insurance Insider overlaying a variety of areas earlier than becoming a member of Mortgage Solutions and Specialist Lending Solutions in 2021.
In her position, she helps put collectively and construction the information agenda for the day and writes up press releases, studies, interviews, analyses and exclusives throughout each titles. She additionally commissions blogs for Specialist Lending Solutions and hosts on-line masterclasses and in-person occasions throughout the business.
She has been shortlisted for 3 journalism awards, which embody BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna labored in ecommerce throughout Snow + Rock, Cycle Surgery and Runners Need web sites, and earlier than that labored at specialist monetary PR agency Rostrum.
In her spare time, Anna enjoys studying, seeing reside music, and cooking for family and friends. When she will get an opportunity, she additionally enjoys climbing, snowboarding and indoor mountaineering.
