Catalyst announces ‘Let’s go Dutch’ offering to pay half of borrower valuation fees upfront

Catalyst, the specialist lender, is offering to ‘Go Dutch’ and pay 50% of bridging borrowers’ valuation fees upfront up to a maximum contribution value of £1,500 inc VAT.

This limited offer is available on all qualifying Catalyst bridging loans during May and June.

Chris Fairfax, CEO at Catalyst, says: “Building on our foundations as a disruptive specialist lender we’re excited to launch a promotion that demonstrates Catalyst’s ability to provide brokers with something fresh and exciting for their clients. While many lenders, ourselves included, have run valuation fee refund promotions in the past, this is different, we are paying upfront. As soon as the borrower pays towards their valuation fee, Catalyst contributes too.”

Chris added: “We want to offer something meaningful, a solution that will resonate with brokers as a good opportunity for their client to save cash while still benefiting from our competitive and high leverage bridging options. We understand that valuations are often the largest upfront cost involved in bridging finance and we feel now is the right time to help reduce costs for our borrowers and truly align ourselves with our customers.”

Qualifying loan products are Catalyst’s ‘Everyday’ bridging, refurb with a cost of works below 10% of OMV and no structural alterations, development exit finance, auction finance and ‘Latitude’ buy to let. Loans must be between £500,000 and £5,000,000. First charge only, purchase or refinance. Qualifying assets are residential property and semi-commercial with a residential element of 50% or more.

The lender has advised that the following will not qualify: Loans outside of standard lending criteria. Loan against commercial property or land. First-time borrowers, second-charge loans, refurb projects with costs above 10% of the OMV or any structural works/Asset Manager requirement.

Brokers can contact the lender’s New Business Team for full details of this offer and to submit their enquiries.