Cheval makes redundancies to streamline business

Cheval makes redundancies to streamline business


Bridging loan specialist Cheval announced today the completion of a redundancy programme combined with an internal restructuring programme to enhance operational efficiency.

Chief Operating Officer Alan Margolis said “The new operational changes are designed to enhance the speed at which we respond to enquiries and so improve service levels even further”

He continued “This week saw the launch of a pilot of a revolutionary approach to the processing and underwriting of bridging loans whereby brokers whose proposals are accepted will receive an Agreement in Principle within an hour of submission and where binding offer letters will be issued after receipt of the application papers and valuation.

Customers who receive a Cheval Offer Letter, will do so in the knowledge that their case has been fully underwritten meaning that there will be few if any issues to be resolved before drawing down the funds.

The piloted approach will go “live” later this month together with an exciting new product launch and revised rates that will surprise many.”

The bridging world is set to see many more incidences of streamlining as lenders try to maintain an effective business model, Cheval are making moves to keep their business thriving despite tough conditions and in some ways it’s a shame that the secured loan market take a leaf out of the bridging markets book.

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