Dan Morris

Crystal and Together complete bridging loan in 48 hours

Crystal Specialist Finance and Together have completed a £65,000 bridging case from receipt to completion in 48 hours.

The loan was used for a client in Scotland whose property move was in danger of collapse due to unexpected delays in the mortgage process of their buyer.

After the deal was introduced to the specialist distributor by a regular supporting broker, it was uploaded onto the lender’s system and a desktop valuation was carried out as a priority.

By lunchtime the following day, all underwriting requirements had been satisfied and the binding offer was issued.

The client completed the offer requirements the same day and returned the information by recorded delivery.

The funds were released on the Monday morning to allow the purchase to take place.

The bridging exit was confirmed as the sale of the existing property.

Dan Morris, key account director at CSF (pictured above), said: “A two-day completion for bridging finance is rare within our marketplace. 

“To achieve this excellent customer outcome for the client was particularly satisfying as the case was regulated and the security located up in Scotland.
“I believe this case truly demonstrates the benefits of working with skilled partners who take time to understand the transaction from the outset, then really add value to a broker’s service proposition.”
Sundeep Patel, head of intermediary sales at Together, added: “We are delighted with the result of this particular deal. 

“The business is committed to delivering excellent levels of service to all our partners and we will always try to act with speed and remove unwanted barriers to the mortgage process.”

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