Market Harborough Building Society has introduced a guaranteed service commitment across its core bridging finance range, aiming to provide brokers and borrowers with greater certainty around application timescales.
The move follows changes announced last week, when the mutual reduced rates by up to 0.12% and simplified its core bridging finance proposition into two bands up to 70% loan-to-value, allowing more borrowers to access lower pricing.
Under the new commitment, qualifying cases will benefit from clearly defined service standards designed to improve speed and transparency throughout the application process.
Bridging finance service standards introduced
For eligible applications, Market Harborough has committed to:
- Issuing a Decision in Principle within four working hours.
- Issuing an offer within five working days of application.
To support the pledge, the society will make a £500 donation to a broker's chosen charity if either service standard is missed.
The lender said the initiative reflects its confidence in delivering the service levels promised to brokers and their clients.
“Last week, we strengthened our core bridging range to deliver even better value," said Iain Smith, head of mortgage distribution at Market Harborough Building Society (pictured). "This latest step is about reinforcing the service behind it.
“We know brokers need clarity, confidence and efficiency when placing bridging cases. By setting clear timeframes 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.”
The commitment applies to fully packaged cases submitted through the society's core bridging finance range. Eligibility is confirmed at Decision in Principle stage, giving brokers clarity from the outset. Terms and conditions apply.
Market Harborough's core bridging finance products are aimed at more straightforward regulated borrowing scenarios, with loan sizes ranging from £200,000 to £1m over a typical 12-month term.
Alongside the recent pricing changes and simplified structure, the range includes a £95 application fee and variable monthly rates up to 70% LTV.
The society also offers a broader bridging finance proposition for larger and more complex transactions, supporting loans of up to £5m. These cases can include unusual property types and specialist exit strategies that fall outside standard lending requirements.
The latest enhancement adds a service-focused element to the lender's bridging finance proposition, providing brokers with defined turnaround expectations alongside recent pricing improvements.
