Several other operational streamlining improvements have also been introduced.
AVM’s are now available for two LTV bands:
• first charge loans of up to £300,000 at 55% LTV and up to £200,000 at 65% LTV
• second charge loans of up to £200,000 at 50% LTV and up to £100,000 at 60% LT
There is no maximum property value.
The operational improvements are all internal process improvements, many that have come from feedback from their intermediaries.
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Jim Baker, sales director of bridging and development finance (pictured above), said: “Spring has built a specialist lending proposition that can be trusted to deliver.
“The AVM changes and most of the process improvements have all come from broker feedback”.
Claire Newman, director of bridging and development finance at Spring, added: “We launched our bridging and development proposition in a challenging economic environment with the strategic aim to grow in line with improving economic conditions.
“AVM’s deliver certainty and speed and with our growing confidence in the property market we are now able to introduce these changes”.
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