London-based specialist bridging lender, Lakeshield, has announced the launch of a seven-day residential bridging product.
The product offers loans up to £1m, starting at a headline rate of 0.85% per month. Loans are available at up to 75% LTV, with a streamlined valuation approach to speed the process up. No physical valuation is required up to 60% LTV on purchase transactions and up to 50% for refinances, while AVMs will be used at higher LTVs where suitable. Refinances will be subject to a physical valuation above 65% LTV.
The new seven-day residential product supports a wide variety of property types, including HMOs, MUFBs, new builds and listed buildings in England and Wales, and is available to a range of borrowers, including those with adverse credit and foreign nationals.
Lakeshield, established in 2021, offers funding for residential and commercial property investments, refurbishment loans, and auction finance.
Daniel Rodney, co-founder of Lakeshield, commented: “We’re really excited to bring this product to market. Brokers tell us that truly reliable, fast bridging is still rare. In testing, we completed several residential transactions in under seven days, which gave us confidence that we’ve built a repeatable process brokers can trust. We look forward to helping more clients move quickly on opportunities without delays.”
