United Trust Bank has dramatically accelerated its bridging turnaround times, halving key processing stages and slashing the average time from offer to drawdown from 57 days to 30.
The lender says a sustained overhaul of its internal case management and underwriting processes is delivering materially faster decisions, valuations and completions – sharpening its competitive edge in a market where speed is often decisive.
Average time from application to decision in principle (DIP) has been cut by 50%. The period from DIP to valuation instruction has also been halved, helping brokers maintain deal momentum at a critical stage of the transaction.
The impact is already being felt on live cases. UTB recently completed a £2.45m regulated bridging facility secured against two properties in just 15 days from application to completion – and without relying on automated valuation models (AVMs).
FASTER DECISIONS
Gene Clohessy (main picture), Director of Underwriting – Bridging and BTL, United Trust Bank, says: “We have been working hard to accelerate our processing and underwriting to deliver faster decisions and reduce friction from application to completion, giving brokers even greater confidence to place cases with us.
“Our flexible and pragmatic underwriting approach is coupled with a deep knowledge of bridging and our dedicated case managers ensure deals get over the line on time when the funds are needed.
CERTAINTY AND CLARITY
And she adds: “These improved SLAs are testament to the work that’s gone in to improving our bridging service having listened to broker feedback.
“And with a new bridging application portal coming soon, broker and customer journeys will be even smoother and even faster.”
