Mortgage News
SLS and Lowry launch Express Bridge
Savills Lending Solutions (SLS) has launched the Express Bridge which is aimed at clients who need to complete on bridging funds quickly.
The product, which has a maximum LTV of 75%, will be funded by bridging finance provider Lowry Capital.
A service level agreement guaranteeing completion in five working days from start to finish can be in place.
Richard Basso, managing director of Lowry Capital commented: “The combination of Lowry Capital’s proven ability to have funds available quickly and SLS’ strong market presence and excellent reputation, means this product should prove to be a great success.”
Rob Jupp, director of SLS, added: “We receive many calls from brokers whose clients have been let down at the last minute by their existing arrangements. This means they have to pay a penalty for late completion, as they cannot get funds arranged quickly enough. SLS intends to be the undisputed market leader in the specialist market in 2010 and such innovations as this from Lowry will assist us in achieving this goal.”
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