Avamore Capital has refreshed its product range in a bid to simplify its offering.
The specialist lender has re-introduced its commercial bridging range alongside its standard residential product, following increasing demand.
Commercial bridging from £500,000 will now be accepted by the lender and can be issued based on high-level plans being in place for an onwards residential conversion.
Avamore’s residential bridging product remains the same; rates offered are independent of the leverage required by the borrower.
It has also consolidated its historic light, medium and heavy refurbishment categorisation.
Refurbishment still covers the full range of works, from decorative updates to full-scale internal changes, but there is no longer onus on the broker to identify where in the product set the project should fall.
Avamore will cover commercial-to-residential conversions and residential or mixed-use restructuring.
In addition, the business has rebranded its finish and exit offering to ‘part-complete development’ in a move to make the benefits of the product clearer.
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The new name aims to emphasise that Avamore’s product has no minimum build restrictions and isn’t just a late-stage product.
Despite a rising rate environment, the lender has maintained the rates for its development loans.
“This product refresh comes at an exciting time for [us],” said D'mtri Zaprzala, managing director at Avamore (pictured above).
“With the recent expansion of the team, together with the introduction of the calculator last month, revamping the products was the next natural step in empowering our brokers to offer their clients relevant solutions to today’s challenges.
“With the current rising rate environment, we wanted to give brokers and developers confidence that we will continue to innovate and find ways to add value.
“As ever, we’ll be to keeping our ear close to the ground and responding to borrower and broker feedback.”