Link Lending is offering title insurance for all remortgage cases of up to £1m.
The insurance will be supplied by Stewart Title and apply to all new commercial and residential remortgage applications, allowing remortgage cases to be completed within 48 hours of the application being received.
John Maclean, Link Lending’s managing director, says: “Typically, short term and bridging loans for remortgage purposes are sought to fill the gap between the date when the new funding is needed and the point where a long term mortgage deal can be arranged. This means that the short-term remortgage funding – whether for commercial or residential purposes – is often needed at very short notice.”
“With title insurance included as standard within our legal fee structure, borrowers can be confident that their remortgage application will be fast-tracked and that funds will normally be available within two working days.”
Maclean says that title insurance protects the lender against any defects in the title of the property included in the scheme and can dramatically shorten the time required in the legal process.
He adds: “The title insurance we now have in place gives us the confidence we need to proceed to a very speedy decision and advance of funds.”
Jonathan Woodcraft, head of sales and marketing at Stewart Title, says: “Title insurance expedites the entire remortgage process while mitigating the risks involved so both parties are protected from the unexpected.”