United Trust Bank (UTB) Bridging has announced significant reductions in processing and completion times, following enhancements to its internal case management and underwriting processes.
With speed a critical factor for bridging loans, UTB has focused on improving the journey from application to draw-down. Key changes include:
Faster decisions: average time from application to decision in principle (DIP) halved
Maintaining momentum: average time from DIP to valuation instruction halved
Quicker completions: average time between offer and draw-down reduced from 57 days to 30 days
The improvements were illustrated by a recent £2.45 million regulated bridging loan secured on two properties, which moved from application to completion in just 15 days without using automated valuations (AVMs).
Gene Clohessy, director of underwriting – bridging and BTL at United Trust Bank (pictured), explained, “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."
“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.”
UTB said the initiative reflects ongoing efforts to make bridging lending more efficient while retaining hands-on support and clear communication with brokers and borrowers throughout the process.
