The ultimate fast bridging loan

The ultimate fast bridging loan

If you need a very fast bridging loan (within a week or so) there are unfortunately very few genuine options and virtually every case fails to complete within the described timescales due to picky underwriting requirements, poor communication and solicitors falling out amongst themselves.

However, a genuine high speed bridge is available which cuts through the bureaucracy and Promise can help you with this.

Call 01902 585052 or see below how the expedited bridging process might benefit your client.

• Day 1 – You discuss case with Promise and the commission you want
• Day 1 – Lender confirms DIP and terms available – you discuss with client and get the go ahead
• Day 1 – Client is called on your behalf to discuss the case and agree quotes (including your fees)
• Day 1 – Agreements issued to your client
• Day 2 – Client confirms they wish to proceed
• Day 2 – If a valuation is required, instructed same day and client visit appointed
• Day 3 – Lender ideally visits next day to collect documents, ID client and assess property if no valuation required
• Day 4 – Lender returns documents to office and loan completes same day

Valuation Note If equity is obvious a valuation may not be required – saves time and costs

Lender Visit Note This speeds up the entire process so all documents are obtained at the outset – Unlike other lenders, there is no up front charge for this visit

Legals Note As no solicitors involved, completion can be immediate and with lower legal costs. If a purchase – only need and undertaking from clients solicitor – no searches’ and no legal advice or witnessing required.

We know this works because we have done it.

Actual example – The broker enquiry came in on a Thursday afternoon – it funded the following Tuesday. Less than 4 working days since the initial telephone enquiry.

This scheme can accept:

• 1^st charges – Non FSA regulated, BTL’s, land and semi commercial.
• 2^nd charges – (Including CCA loans on main residence – allow an extra week due to consideration period)
• Loans from only £5000 to £100,000 (£150,000 on referral with lower LTV’s)
• LTV’s up to 70% on first charge, 65% on second charge – for run of the mill property/location assume 5% less

Features

• Rates from 1.25% on loan over £50K – negotiable up to 2% on smaller loans
• No default rates or renegotiation fees on expiry
• Flat lender fee of £595 , includes all lender legals
• Second charge available even where consent is declined

Avoid the embarrassment of not completing a bridge in time. If you have a client who needs money fast, call Promise 1^st.

We can identify what your client needs and can accept quickly and, if the expedite bridge is not suitable, we’ll tell you straight away.

www.promisemoney.co.uk

01902 585052