Tuscan Capital relaunches residential bridging offering

Tuscan Capital has announced it is relaunching its residential bridging proposition with the addition of a new fast track process.

The short-term property finance provider expects the changes to significantly speed up the application process for its bridging cases.

Fast track uses a new valuation process where an AVM is used to decide whether a desktop or short-form valuation can be used. Title insurance and search indemnity insurance can also be utilised to speed up an application, Tuscan Capital added, and credit-approved term sheets can now be issued within four hours of an enquiry.

The lender also confirmed that personal guarantees, which require all parties to have independent legal advice, will no longer be required on cases at 65% LTV and below. Furthermore, a new Know Your Customer (KYC) smartphone app can be used to upload documentation for client identity purposes to further reduce time and paperwork for the broker.

“With the introduction of these fast track improvements, we have really decluttered the process for the broker and focused on making the customer journey much more efficient,” said Tuscan Capital CEO, Colin Sanders.

“The new approach to valuations will result in a faster process for the vast majority of bridging finance cases, while the introduction of title insurance will be a breath of fresh air for those who need their purchases to be completed quickly, such as those buying at auction.

“While we’re really pleased with these enhancements, in no way do they represent the end of our drive to make our processes as efficient as possible. In fact, today’s news is the first announcement in a series of process innovations that Tuscan Capital will be unveiling over the coming months.”

    Share Story:

Recent Stories


Helping landlords make their cash work harder
MoneyAge Editor, Adam Cadle, talks to Family Building Society BDMs, Arif Kara and Nathan Waller, about the resilient BTL market, the wide variety of landlords that Family Building Society caters for, and how niche products like an Offset mortgage can help improve cashflow.

An outlook on the BTL market
MoneyAge Editor, Adam Cadle, talks to Landbay senior regional account manager, Alex Witham, about current market sentiment within the BTL space and Landbay’s success in this area

Empowering advisers: A decade of education in Later Life Lending with Air Academy
Michael Griffiths is joined by chairman of Air Club and former founder and CEO of Air, Stuart Wilson, and head of the Air Academy, Daniel Holden, to look back on a decade of business focused learning at the Air Academy.


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.