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Specialist lender MT Finance has launched into the regulated bridging space.
The lender previously provided unregulated bridging products but will now offer regulated loans through a select panel of brokers.
MT Finance commercial director Gareth Lewis says the lender aims to improve turn around times for applications.
“We feel some lenders have lost sight of what’s important. Nobody wakes up in the morning wanting bridging finance – they have a specific transactional need. Bridging finance is about providing liquidity and getting transactions done within a tight timescale,” says Lewis.
“We have stripped back to the essentials of bridging finance. We offer a service proposition where we make an initial assessment and come back within one working hour with approval or indicative terms. Within two working hours of receiving an application and supporting documentation, we aim to produce a loan contract and mortgage illustration.
The lender’s regulated bridging products are currently available to a select panel of brokers.
Positive Lending has been selected as a preferred partner for MT Finance’s regulated bridging division.
According to MT Finance, the decision has been some time in the making; to read more on the reasoning behind it, click here.
Gareth Lewis, commercial director of MT Finance said: “We feel some lenders have lost sight of what’s important.
“Nobody wakes up in the morning wanting bridging finance – they have a specific transactional need. Bridging finance is about providing liquidity and getting transactions done within a tight timescale.