TMA has added short-term lender, Greenfield Mortgages, to its bridging panel.
TMA members now have immediate access to Greenfield’s range of products available to borrowers looking for short-term lending solutions with either residential or commercial properties.
Greenfield says it typically provides a DIP within one hour of an initial application enquiry. The lender also says it considers each case on its own merits.
Lisa Martin, development director at TMA, said: “As customer lending becomes more varied, we are committed to ensuring that intermediaries have access to a varied selection of lenders and propositions.
“Welcoming Greenfield to our lender panel is testament to the fact that we are constantly striving to offer our members a proposition that evolves and adapts with the market.
“Our DA firms will now be better equipped to serve customers looking for short-term lending solutions – with the added benefit of fair and no-nonsense underwriting.”
Highlights of the partnership include:
- Loans available from £26,000 to £5,000,000
- Terms available for up to 12 months
- Up to 70% LTVs
- Fast turnaround time – funds can be released in seven days
- No minimum income or affordability requirements
- No monthly payments as the loan is repaid with a bullet at redemption
- Lending considered on properties that are uninhabitable or in need of refurbishment
Averil Wagoner, relationship manager at Greenfield Mortgages, added: “We’re pleased to be kicking-off the New Year by joining TMA’s specialist panel of lenders. We look forward to growing our relationship with TMA and supporting members in placing their regulated and unregulated bridging cases.”