Completing deals within a month
The new normal for us… According to the latest Bridging Trends data, bridging loan transactions in Q2 fell to £165.7m, ‘the quietest quarter since Q1 last year’. This represents a 40% drop compared to last quarter’s record months, and more importantly, the data also reports an increase in average completion time from 54 days in Q1 to 58 days in Q2. Whilst completions have remained steady at Black & White, our turnaround times are shorter, we are turning deals around in an average time of just 28 days – or one calendar month, if you like. Here is how we can facilitate that: Our loan process is straightforward. As soon as we receive an enquiry, it is quickly and efficiently triaged by our Relationship Team, which is experienced specialist lending people. The deal is then discussed with the lending team, who look at it forensically, with our credit committee on standby if there are creases that need ironing out. If we can make the deal work, it will then be put to application. You won’t
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