United Trust Bank has introduced a new online portal targeted at the increasing number of mortgage brokers and IFAs it says are seeking residential short-term bridging loans for clients.
The portal, which goes live on 1 October, is designed to speed up the online application process for bridging loans. It provides brokers with key facts illustrations and documentation, accurate indicative offers and annual percentage rates, and decisions in principle within minutes. Funds can be released within ten working days of application, the lender claims. Bridging loans are typically required to fund the purchase of a new house where the sale of the existing property is progressing slowly or has unexpectedly met with a hitch. But bridging loans are increasingly being used to cove...
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