"The key to sourcing and delivering bridging finance is speed and efficiency and this service provides a really quick turnround if cases are submitted correctly."
Supported by a dedicated team, the new streamlined service aims to simplify the process for straightforward transactions, making it quicker and easier for brokers to get loans approved and paid out.
Brokers are able to create their own terms, DIPs and ESIS using UTB’s self-service broker portal, or by liaising with the in-house UTB Fast-Track team if they prefer.
Fast-Track utilises some of UTB’s existing fintech solutions such as Biometric ID verification, AVMs and dual legal presentation.
Fast-Track is available on loans with a maximum LTV of 55%, a maximum loan size of £500,000, and a maximum of two security properties. No heavy refurbishments or property improvement loans will be eligible.
Gavin Diamond, director of bridging at United Trust Bank, said: “This is an exciting evolution of our bridging service and we firmly believe this will enable brokers to do more business, quicker and more easily with UTB. We understand that a quick turnaround is vital to most customers, and often why they’ve chosen bridging in the first place, so having developed and implemented a number of time and effort saving systems and processes, we’ve brought them all together to provide this market leading bridging service.
“This new service will further complement UTBs position in the market as the home for all bridging applications, regardless of their complexity. Through the introduction of a dedicated internal Fast-Track team to process these applications, we can offer the best possible service and maintain our USP of being an approachable lender that wants to support and work with our brokers.
“Feedback from the brokers who participated in our soft launch has been overwhelmingly positive and we’re now ready to make it available to all UTB registered brokers.”
Dale Jannels, managing director at Impact Specialist Finance, commented: “We were very pleased to take part in the soft launch of UTB’s new ‘Fast-Track’ service and our experience through the testing phase has been excellent. The key to sourcing and delivering bridging finance is speed and efficiency and this service provides a really quick turnround if cases are submitted correctly. UTB are once again employing fintech and experienced, dedicated people to provide a welcome and innovative service to the bridging market.”
