Chris Fairfax, managing director at Catalyst (pictured above), explains that the change was made following the new business team receiving a number of credible refurb bridging opportunities that sit above its previous limit of 75% of day-one value.
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“This, combined with the performance of our existing refurbishment loan portfolio, presents a clear opportunity for us to support an increase to 100% of day-one value.
"In turn, this opens up more opportunities for intermediaries and their property clients,” he added.
“As 2020 comes to an end, Catalyst wants to further support the UK’s property sector as best we can, with a view that we all hope 2021 will be a more stable and prosperous year.”
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