Savills Lending Solutions is launching an express bridge product, funded by Lowry Capital.
Express bridge is aimed at clients who need to complete on bridging funds quickly. A service level agreement can be in place guaranteeing completion in five working days, up to a maximum LTV of 70%.
Richard Basso, managing director of Lowry Capital, says: “We are pleased to be launching our Express Bridge in partnership with SLS. The combination of Lowry Capital’s proven ability to have funds available quickly and SLS’ strong market presence and excellent reputation, means this product should prove to be a great success.”
Rob Jupp, director of SLS, says: “We receive many calls from brokers whose clients have been let down at the last minute by their existing arrangements. 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 undisputed market leader in the specialist market in 2010 and such innovations as this from Lowry will assist us in achieving this goal.”