All new bridging cases up to £2m will be quoted with title insurance unless specifically notified otherwise.
The policy is provided by Westcor and aims to make the legal process faster as it minimises the number of solicitor checks provided.
StreamBank said the policy guarantees that the property title is free from defects, the lender has a “valid and enforceable first charge” and the mortgage is secured on a “good and marketable title”.
Title insurance is only available for dual legal representation on refinance cases and for single representation on both purchase and refinance.
StreamBank said the title insurance addition will offer brokers a “practical way to avoid delays, particularly on deals where timing is tight or the legal process is likely to be more complex”.
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Roz Cawood (pictured), managing director of lending at StreamBank, said: “Adding title insurance into the mix is a simple change that can make a big difference. It gives clients peace of mind and allows brokers to deliver a smoother experience without sacrificing security.
“This is especially valuable on smaller deals where delays can have a disproportionate impact. We’re always looking for ways to make life easier for brokers, and this is just one more way we’re doing that.”
StreamBank has been growing its team, recently hiring Amy Robinson as its business development manager (BDM) for the Midlands, Wales and the West and Lee Warne as a senior BDM covering London and the South East.
