Michael Walters

UTB launches dual legal representation for bridging

United Trust Bank (UTB) has launched dual legal representation for bridging loans.

Following a successful pilot phase, the bank aims to use dual legal representation — which is common in mortgage conveyances — to simplify the legal process for bridging loans.

With this, transactions can be facilitated faster and make significant savings for the borrower.

“Dual legal representation provides a significant cost and speed benefit to bridging customers, and service improvements like this are important for growing the bridging market,” said Michael Walters, head of sales for mortgages and bridging at UTB (pictured above).

“I’m sure many bridging customers will benefit from dual representation in future, especially now this facility is available via all introducers to UTB.”

Amadeus Wilson, director at SPF Short Term Finance, added: “Working with UTB and JMW Solicitors on the pilot was a great success.

“Not only was the client extremely satisfied with the reduced cost of using dual representation, but the speed and efficiency of keeping everything under one roof was invaluable, leading to a swift completion and all-round client satisfaction.

“The provision of this service augments the overall UTB proposition and complements [its] superb service levels and market-leading products that we are accustomed to.”

Impact Specialist Finance recently entered into a packager agreement with UTB, which gave it access to the specialist bank’s entire product range.

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