What Does OMV Mean In Property Finance?
OMV is an abbreviation often used in property finance, the acronym stands for “Open Market Value“.
The purchase price and Open Market Value (OMV) may not be the same. For a variety of reasons, a vendor may sell a property at below market value.
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Most lenders will only lend against the purchase price.
However some Bridging Loan lenders might lend against the Open Market Value, rather than the purchase price.
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