Specialist lender Together has completed its first regulated bridging deal with Crystal Specialist Finance.
This follows its recent new product launch with a pilot group of packagers.
The first case, completed on 12 February, was a loan for £400,000 to help a customer purchase a new residential property before their current property was sold.
The funding was delivered in 48 hours.
Gary Bailey (pictured), Together’s sales director, said: “We’re constantly reviewing our products and looking at opportunities to expand our offering, so we’re thrilled that our new regulated bridging product is already delivering results.
“The bridging sector enjoyed strong growth last year and we hope that with this new proposition, we’ll be able to assist even more customers looking for fast and flexible finance solutions, through our network of intermediaries.
“The speed with which we were able to turn this around is thanks to the excellent packaging provided by the team at Crystal Specialist Finance, who are working with us on the pilot programme, and we look forward to further shared business.”
Joe Breeden, managing director of Crystal Specialist Finance, added: “We were pleased to be selected by Together to take part in the pilot scheme for their new product and were delighted by the fast turnaround on this case, which is testament to our strong partnership and shared commitment to delivering the best outcome for the customer.”