Savills Lending Solutions is laun-ching an express bridging product funded by Lowry Capital.
An express bridge is aimed at customers who need to complete on bridging loans quickly. An agreement can be put in place guaranteeing completion within five working days, up to 70% LTV.
Rob Jupp, director of SLS, says it receives a lot of calls from brokers whose clients have been let down at the last minute and need help.
Jupp says: “This means they have to pay a penalty for late completion as they can’t get funds arranged quickly enough.
“SLS intends to be the market leader in the specialist market this year and innovations such as this from Lowry will help us achieve that goal.”