Specialist lender MT Finance has collaborated with Hometrack to incorporate the use of automated valuation models (AVMs) into its standard residential bridging products.
AVMs are available for qualifying regulated and unregulated bridging finance applications, up to a maximum LTV of 60%, and a maximum property value of £750,000. The move is designed to speed up transactions and process applications more efficiently.
This announcement from MT Finance comes on the back of a £500m additional funding facility from JP Morgan in November 2023, to boost its lending in the UK short-term finance market.
MT Finance director Joshua Elash comments: “Offering AVMs is something we’ve been wanting to do for a long time, and I’m very pleased we’ve made it happen. We knew from discussing the matter with our intermediary partners how important AVMs are as they significantly speed up a transaction and provide ever-crucial certainty to clients.”
