Aspen Bridging has published its time-based service excellence targets, with an aim to take the majority of business from enquiry to completion in just three to 10 days.
Based on a number of caveats – which assumes immediate valuation and legal payment, no building surveyor, property access and quick response times from all parties – the decision is supported by figures showing 81% of cases are currently completed within 10 working days when the stipulations are met.
In addition, the company will supply a fully-costed quote in the first 15 minutes and will move from a submitted DIP to a post-search DIP in a maximum of three hours.
The lender says the initial online enquiry through to post-search DIP has been created to ensure that every agreed application has the maximum chance to reach completion should the information provided remain consistent, at present 93% progress to post searches with later fall-off largely coming through customers withdrawing or down-valuations.
Aspen says all steps in the process are controlled through a philosophy of ‘one person per case’, site visits from the experienced underwriting team to every property at valuation stage, and close partnerships with third-party firms such as VAS Group and solicitors including Fieldfisher LLP and Brightstone Law.
Ed Ahrens, managing director at Aspen Bridging, said: “In its strictest sense the message is simple, if the customer can fulfil their side, does what we ask of them and pays when requested to, they will make the timescales we are pledging. Service excellence is everything to our firm.”
Jack Coombs, director at Aspen Bridging, added: “Literally no-one actively engages a broker to secure a bridge based on a rough idea or an indefinite period to completion, and we believe by being completely transparent on our processes, targets and requirements that very quick delivery will become standard.”