Nick Jones

Together completes regulated bridge in three days

Together has completed a £25,000 regulated bridging loan in three working days.

The bridging lender worked with specialist distributor Clever Lending to fund a customer’s home improvements to boost the value of her home.

The 12-month loan, offered at a rate of 0.49%, also helped the customer to pay off £10,000 worth of existing credit.

It was secured against the customer’s unencumbered three-bedroom house, which is now on the market.

The house is expected to sell for around £270,000, which will allow the customer to exit the loan and move to another property which she owns nearby.

Nick Jones, head of specialist distribution at Together (pictured above), said: “This was a great outcome for the customer.

“After paying off all her existing credit, she has £15,000 to carry out improvements, hopefully adding to the value of her home.

“Clever Lending brought the case to us on a Thursday and it was so expertly packaged that it made it easy for our residential underwriters to provide the finance on the Monday, three working days later.

“This was a great example of when lenders work seamlessly with trusted partners to provide fast, tailored finance.”

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