Lender collaborates with Hometrack in the move designed to speed up transactions
Specialist finance lender MT Finance has integrated automated valuation models (AVMs) into its existing bridging finance range.
The move, designed to streamline transaction processes and facilitate more efficient application processing, involves a strategic collaboration with property insights provider Hometrack.
MT Finance’s standard residential bridging products will now leverage AVMs, catering to both regulated and unregulated bridging finance applications. The utilisation of AVMs is applicable up to a maximum loan-to-value (LTV) of 60% and a property value cap of £750,000.
The development comes on the back of a £500 million additional funding facility from J.P. Morgan in November 2023, to boost MT Finance’s lending in the UK short-term finance market.
🐧📢 As part of our ongoing commitment to delivering exceptional service, we've collaborated with @HometrackGlobal to incorporate AVMs into our standard resi bridging products. 🙌 Get in touch now to find out if your case qualifies https://t.co/YaAT8FcpTy #mtfinance pic.twitter.com/tjcUWev5iC
— MT Finance Group (@MTFinance) January 9, 2024
“Offering AVMs is something we’ve been wanting to do for a long time, and I’m very pleased we’ve made it happen,” Joshua Elash (pictured), founding director at MT Finance, said. “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.
“We will now be able to move even quicker than ever and continue to deliver the exceptional service that has become our hallmark.”
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