Catalyst Property Finance has upped the maximum LTV for its short-term loans to 70 per cent.

This comes after the lender limited its bridging loans to 60 per cent just two weeks ago.

Catalyst says that the impact, both short- and long-term, of Covid-19 on the residential property market is now being factored into valuations, so it is “only fair” that the lender brings higher-LTV products to market.

Chief executive Chris Fairfax adds: “Recently, I stated our risk would be closely monitored and updated as soon as we felt it prudent to do so. Having undertaken a credit review, and in liaison with our valuer panel, we are now in a position to bring back our 70 per cent LTV bridging product.

“Catalyst continues to access a valuation panel who can safely inspect and report in line with government and RICS guidelines. In addition, we can accept AVM/desktop and drive-by valuations, subject to meeting criteria.”