"Having a comprehensive title insurance policy in place enables a lender to focus on underwriting the fundamental elements of a bridging case"
Castle Trust Bank has increased the maximum loan size on which it can use title insurance to expedite the process from £2m to £3m.
The specialist bank is now able to use title insurance to speed up transactions on its bridge and light refurbishment bridging products on loans up to a maximum value of £3m.
Anna Lewis, commercial director at Castle Trust Bank, said: “Having a comprehensive title insurance policy in place enables a lender to focus on underwriting the fundamental elements of a bridging case and this supports a more efficient and effective application process. It also makes possible some transactions that would otherwise be impossible, where there are complicated legal issues surrounding the security.
“This gives a lender greater certainty and it means that we can, in turn, provide greater certainty to brokers and their clients. Increasing the maximum loan size available to use title insurance to £3m is a firm signal that at Castle Trust Bank we are ready and willing to provide fast access to bridging finance on high value and often complex cases.”
