The lender’s new service commitment aims to issue a decision in principle (DIP) within four working hours. Offers will be issued within five working days of application.
MHBS said this move aimed to reinforce its focus on delivering reliable outcomes for brokers and clients.
It also said it has enabled more clients to benefit from lower pricing.
Clear service commitment established
This move builds on work from the previous week, when MHBS simplified its core bridging finance range into just two bands up to 70% loan to value (LTV).
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Ian Smith (pictured), head of mortgage distribution at MHBS, said: “Last week strengthened our core bridging range to deliver even better value. This latest step is about reinforcing the service behind it.”
As a testament to its confidence in delivering its commitment to issuances of DIPs and offers, MHBS will make a £500 donation to the broker’s chosen charity if timescales go beyond these levels.
Smith added: “By setting clear time frames and backing them with a £500 charity donation, we’re demonstrating that we stand behind [our] multiple award‑winning service and the promises we make.
“We know brokers need clarity, confidence and efficiency when placing bridging cases.”
Eligibility for new service commitments
The commitment applies only to fully packaged cases within its core bridging range.
Eligibility will be confirmed at the DIP stage. The society said this was to give brokers certainty from the outset.
The society’s core bridging rage is designed for regulated scenarios between £200,000 and £1m over a standard 12-month term.
Along with reduced rates and a simplified two-band structure, variable monthly rates of 70% LTV and a £95 fee are part of its core range.
