Castle Trust has completed the first loan under its new Express Service in two weeks.
The lender worked with Brightstar Financial on a second charge bridge that was required quickly to refinance an existing deal. The time from application to completion was two weeks, which included the time taken to work through complications with the title and secure consent from the first charge lender.
The Express Service, which launched in September, has been specifically designed for clients who need a rapid completion. All Express applications are seen immediately by a senior member of the underwriting team, who remains the key contact throughout the application process, and title insurance is used to support the accelerated application and completion cycle.
Alex Upton (pictured), director of sales at Castle Trust, said: “Castle Trust is in business to create value for its customers and sometimes speed is what really matters. We are delighted that we have been able to work with Brightstar to achieve our first completion so soon after launching the service.
“This case was particularly impressive given that it was a second charge and subject to consent from the first charge lender. With the Express Service also available on our first charge loans, we look forward to achieving even faster completion times in the future.”
Jo Logan, bridging loans specialist at Brightstar Financial, added: “It’s great to achieve a two-week completion on a second charge loan. As a lender, Castle Trust was very proactive. Everybody was on the case and they provided plenty of updates as the application progressed.”