Clients approach UK Bridging loans either directly or via introducers.
Basic questions by way of a “fact-finding” process are used by UK Bridging Loans to determine if the lending requirements are a possibility.
An immediate yes or no answer is given and if suitable, a quotation is formulated and forwarded to the client, usually by email.
A formal offer is produced for any client wishing to proceed and forwarded for signature, again, usually by email.
On return of the signed offer, which can be scanned and emailed to UK Bridging Loans, each client is visited at the security address for signature of the remaining loan paperwork, including a CH1, land registry charging order in the favour of UK Bridging Loans. Our representative will also collect any additional pre-requested documentation.
The signed documentation is immediately forwarded to our underwriters. The business model at UK Bridging Loans is based on very quick completions which is possible because each deal is funded using all of our own money. The underwriters on rare occasions request additional information and then forward the case for funding.
We rarely require valuations or additional legal representation so our average completion from initial acceptance to pay-out is usually just a few days.
The land registry charge is removed once the loan is repaid.
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