As part of our straight forward approach to commercial and residential property lending we offer an easy to follow application and lending process.
We typically receive enquiries via email or over the phone and one of our underwriters will discuss the case with the introducing broker. If the basics of the deal appear in line with our lending criteria we will usually be able to provide indicative terms immediately and then follow these up in writing. Equally if the characteristics of the case do not fit our lending criteria, we try whenever possible to confirm this as soon as possible so that there are no delays in the broker being able to investigate alternative sources of funding for their client. Each submitted application is dealt with on a case by case basis with no formulaic tick boxing or credit scoring.
Upon receipt of our completed application form we will issue an immediate decision in principle setting out our support to the application and the terms applicable. We will also obtain a quote for the valuation of the property in question and any other processing conditions to allow the application to proceed. The next stage will be to instruct a surveyor on our specialist panel and upon receipt of a satisfactory valuation report, a formal offer of mortgage will be issued. On many occasions, due to the time pressures of bridging finance, our solicitors will already be instructed by the time that the offer letter and accompanying documentation have been signed and returned and will have already communicated our requirements to the applicant's solicitor in order to securitise the loan.
As many of the applications we receive are urgent we are typically able to work to extremely tight deadlines.