Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

Afin Bank Unveils Regulated Bridging Loans Up to 80% LTV

Afin Bank has introduced a regulated bridging loan product, offering lending of up to 80% loan-to-value (LTV) gross. The launch is led by John Smith, who has been promoted to head of bridging at Afin Bank.

The new bridging proposition allows interest to be rolled up and paid at the end of the loan term. The product features automated valuation models (AVMs) up to 80% LTV, valuations based on open market value (OMV), dual representation, title insurance, and is available to personal borrowers, including those with UK visas and limited credit history in the UK.

Loan amounts range from £50,000 to £3 million, with a 2% arrangement fee applied to the net loan size. Each application will be individually underwritten by Afin Bank’s team of underwriters.

This development may be of interest to UK letting agents and inventory clerks working with clients seeking short-term finance solutions, including those requiring funds for light refurbishment or bridging between property transactions.