TMG Mortgage Network has announced the addition of Bluecroft Finance to its lender panel, enhancing options for advisers and their clients in the bridging finance sector. This partnership is significant as it provides access to a range of bridging loans designed to meet diverse financial needs across the UK.
What is Bluecroft Finance?
Bluecroft Finance is a principal bridging lender based in Greater Manchester, offering a variety of financing options for residential, commercial, and semi-commercial properties throughout England, Wales, and Scotland. Their bridging loans range from £75,000 to £3 million, supported by a straightforward underwriting process and direct access to decision-makers, ensuring a more efficient borrowing experience.
How Will This Impact Bridging Finance?
The inclusion of Bluecroft Finance in TMG’s lender panel allows advisers to access Bluecroft’s Fast-Track service, which can facilitate the completion of eligible residential bridging cases under £350,000 in less than seven days. This rapid turnaround is particularly beneficial for borrowers needing quick access to funds, whether for property purchases or renovations.
What This Means for Borrowers and Advisers
For borrowers, the partnership between TMG and Bluecroft Finance means more options and faster processing times for bridging loans. Advisers will benefit from Bluecroft’s recently introduced ‘2 Become 1’ dual representation service, which aims to simplify legal complexities and speed up completion times on suitable cases. This could lead to significant time and cost savings for clients, making bridging finance a more attractive option.
Frequently asked questions
What types of properties can Bluecroft Finance support?
Bluecroft Finance provides bridging loans for residential, commercial, and semi-commercial properties across England, Wales, and Scotland.
How quickly can I complete a bridging loan with Bluecroft?
Eligible residential bridging cases below £350,000 can potentially complete in under seven days through Bluecroft’s Fast-Track service.