Lendco has introduced automated valuation models (AVMs) to its bridging offering and lowered rates on its simple residential acquisition transactions.
The AVM product is available at a gross 65% loan-to-value (LTV) on loans of up to £750,000, with a Hometrack confidence level of 5 or above.
Qualifying loans are available from 0.74% per month.
In addition, the lender has reduced pricing on straightforward bridging transactions, which are available at up to 75% LTV, on loans under £750,000, starting from 0.69% p/m.
Lendco executive director Alex King says: “We’re delighted to further support our intermediaries with these modifications to our product range. The use of AVMs is not new in the bridging market and we felt it was important that we added this tool to our armoury.”