The lender will no longer apply a new build premium deduction when valuing new-build properties, instead basing these on current market value.
With immediate effect, this is subject to a maximum LTV of 65%.
The change is designed to provide greater clarity for clients, while also helping to reduce down-valuations.
Previously, RAW Capital Partners assessed new-build properties on a second-hand basis, which could lead to greater valuation uncertainty.
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“By lending against current market value, rather than deducting a new build premium, we can provide a clearer and more consistent outcome on loan amount,” said Tim Parkes, CEO at RAW Capital Partners (pictured above).
“We hope this will better help clients achieve their property investment goals.
“It’s a practical change based on market feedback, and one that will help make the borrowing experience more straightforward for clients purchasing new build properties.”
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