United Trust Bank (UTB) has completed a £1.28m regulated bridging loan in just 12 working days to support an auction purchase in London.
The facility enabled borrowers to secure a new main residence within a tight 28-day completion deadline, highlighting continued demand for fast, certain funding solutions in time-sensitive transactions.
The case was introduced by Andrew Hunt, mortgage & commercial adviser at KDW Financial Planning, who approached United Trust Bank after his clients successfully bid on a property at auction but required rapid access to finance.
With contracts already exchanged, the borrowers needed to raise £1.28m, including rolled-up interest and charges, to complete the purchase and repay the existing first charge on their current property.
The loan was structured at 74% LTV and completed within 12 working days, with the lender using an automated valuation model to support a streamlined process.
In this case, close coordination between broker and lender enabled the deal to progress quickly, with the use of technology helping to reduce delays typically associated with valuations.
Hunt says: “With such a tight deadline, we needed complete confidence that the lender could deliver — and UTB did exactly that.
“The team were proactive, communicative and focused on getting the deal over the line. Their ability to complete quickly made all the difference and ensured our clients secured their new home without unnecessary stress.”
Nick Warren, key account manager buy-to-let & bridging at United Trust Bank, adds: “This case highlights exactly what UTB is built to deliver — speed, certainty and the ability to perform under pressure.
“Auction purchases demand a lender who can move quickly and decisively, and by working closely with Andrew we were able to deliver a smooth and timely completion for the clients.”
TECHNOLOGY SUPPORTS DELIVERY
The use of an automated valuation model formed part of the lender’s approach to accelerating the transaction, reflecting wider adoption of technology across the bridging sector to improve turnaround times.
