Pictured: Roger Dewsbery
Crystal Mortgages has launched Auction Finance Special, a new
service that will produce a bridging loan offer within just four
hours of an application being received.
The product has been devised to address uncertainty in the
market by allowing the applicant to know exactly what they can
borrow before they go to auction, as compared to retrospectively
looking to secure finance.
Rates start from 1.25% per month with loan-to values available
up to 70%, based on a repayment period of three to nine months.
Roger Dewsbery, senior underwriter at Crystal Mortgages, said:
"Too many purchasers are winning auctions only to find out that
they cannot raise the funds to secure the property because
turnaround times on applications take too long or are ultimately
declined.
"With the launch of Auction Finance Special we are looking to
introduce confidence back into the market, with any successful
applicant completely sure of their position prior to the auction
taking place.
"This product has long been required, any we are more than happy
to bridge the gap."
For more information on Crystal Mortgages and their full range
of mortgage, bridging, development and buy-to-let products,
applicants can call 01922 722008.