London Credit has increased the maximum LTV for semi-commercial bridging loans from 65% to 70%. Alongside the increase, the firm has also updated its valuation methodology, now basing lending decisions on open market value rather than 180-day valuations. London Credit said that the combination of these enhancements will enable brokers to access higher leverage for their clients, whether they are looking to expand their portfolios or refinance existing assets in the specialist lending market.

Lee Warne has been appointed as senior business development manager (BDM) for London and the south east at StreamBank. He brings extensive experience in the financial services sector, having held roles at Octane Capital, Shawbrook Bank, Vantage Insurance Services and XYC. In his new role, Warne will focus on building and strengthening relationships with brokers across the region, providing support and assistance. He will also play a role in promoting the firm’s lending solutions, keeping brokers up to date with market developments and working with intermediaries to help them deliver the best outcomes for their clients.

CHL Mortgages for Intermediaries has cut rates across its short term lets range by an additional 30 bps. The range, which is designed for borrowers who intend to let a property for a short period such as a holiday let or serviced apartment, now features two- and five-year fixed products from 4.09% and 4.94% at 75% LTV. Borrowers can choose between 3.5% or 5% fee options on the two-year products and between 3.5%, 5% or 7% fee options on the five-year fixed products.

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