HTB uses new fast-track service to provide £1m bridging loan in 23 days

Hampshire Trust Bank has completed a £1m bridging loan for a BTL investment property within 23 days.

The client required an £890,000 refinance for an existing property and a £100,000 capital raise in order to carry out refurbishment on other properties in their portfolio.

The £1m facility — which included fees —was agreed at 75% LTV and priced at 0.65% on a nine-month term, using the lender’s fast-track service launched at the beginning of September this year.

The service, available for bridging deals up to £1m, offers brokers and clients a dedicated underwriter, a decision in four hours, and a dedicated completions officer, with dual and non-representation solicitor instructions also available.

Marcus Dussard, sales director at HTB (pictured above), said: “With the market forever talking about how long it takes to get a bridging deal through, we’ve made it easier: what our brokers want to hear is how long it takes for the completion and so I’m delighted we have been able to support a £1m bridging loan to completion in 23 days. 

“What’s even more pleasing, is that this is starting to be become a regular occurrence for bridging deals within HTB. 

“Broker partnerships are essential for this turnaround to be achieved, with a well packaged deal and speed of information back to us on request.”

David Farmer, commercial finance specialist at Lime Consultancy, the brokerage which advised the client on this deal, commented: “When a client expects us to deliver, and deliver quickly, I cannot afford for a lender to let me down. 

“Getting the best result for my client is always a partnership, I need a lender that moves quickly and a BDM that shares my expectations, my commitment and genuinely understands how important every client is to me. 

“That is why I choose to work with HTB when I need something complex done quickly.”

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