Following its launch into the short-term market, Fluent Money Group’s first bridging loan has been funded by specialist lender Together.
The specialist broker created Fluent Bridging under managing director John Hardman (pictured) last month, to provide more options for borrowers seeking fast and flexible short-term finance from its panel of lenders.
Together delivered the broker’s first loan in nine working days.
Fluent Bridging’s client wanted to raise £389,341 to redeem a loan secured against a converted flat which is currently on the market. It submitted the packaged case to Together last Tuesday and the lender used its automatic valuation model (AVM) to carry out a Hometrack search, removing the need for a physical valuation. It then agreed to provide a commercial bridging loan and the funds were delivered to the customer on Friday.
Marc Goldberg, commercial CEO at Together, said: “We’re incredibly proud to have delivered Fluent Bridging’s first ever loan after the group’s launch into the short-term finance market.
“We have built up a fantastic relationship with the Fluent Group, having provided their clients with residential and buy-to-let mortgages for nearly a decade, and have always been impressed by their consistently high level of service.
“We’ve no doubt this will continue and believe they will enhance and transform the dynamic bridging sector. That’s why we’re excited about strengthening Together’s links with John and the team to provide more opportunities for borrowers, as Fluent continues to successfully build the bridging side of its business.”
Hardman added: “Whilst not every bridging loan is time critical, time really was of the essence on this occasion. I was really impressed with the way Marc’ s team attacked this, providing immediate peace of mind to our client and delivering a tailor-made solution in double-quick time.
“We anticipate that Fluent Bridging will grow very quickly and Together demonstrated they can provide the same exceptional levels of service that we do as a broker and packager. This is without doubt the first of many deals we will complete with Marc’s team”.
Fluent’s new bridging brand compliments existing divisions of the Fluent group: Fluent Money (second charge mortgages), Fluent Mortgages, Fluent Lifetime (equity release), and Fluent Protect (General Insurance).