United Trust Bank (UTB) has made further enhancements to its bridging valuation criteria, introducing a desktop valuation option and expanding the use of AVMs to deliver faster routes from application to offer. The introduction of the desktop valuation sits between AVMs and full physical inspections, and can be used on purchases, refinances, light refurbishment projects and capital raising, providing a streamlined solution for standard residential properties. Furthermore, UTB has relaxed minimum AVM confidence levels across its LTV bands. AVMs are available on bridging loans up to £1m to a maximum of 75% LTV and criteria changes introduced by UTB since the start of the years enable a significantly higher proportion of cases to benefit from the faster and cost-free valuation method.

District & County Investments (DCI) has relocated to a new office in North Liverpool as the business continues to grow and increase its lending activity. The firm said its move reflects rising levels of deal flow and the need for a larger, more integrated working environment, supporting collaboration across origination, credit and operations. The new space has been designed to support a collaborative culture and enhance decision-making and streamline deal delivery. DCI added the investment also reflected a focus on attracting and retaining high-calibre talent.

Interbay has completed a £17.5m interest-only remortgage on a new residential apartment development in the South East on England, working together with its broker partner, SPF Private Clients. The development delivers 103 private rented units across three purpose-built buildings, offering a mix of one-, two- and three-bedroom apartments. The transaction required a bespoke structure, with the in-house specialist property solutions team, overseeing origination and working closely with underwriting and completions throughout the process. This included undertaking valuation reviews and stress testing multiple loan exit scenarios, securing support for a non-panel new homes warranty provider, and structuring a deferred charge over the freehold to allow separate completions across the blocks and a phased transition from the development funder. Bespoke interest cover ratio calculations were also completed to support a policy exception, reflecting the true operational cost profile of the development.

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