Drawbridge Finance has said that it has just completed its fastest ever deal – from submission to completion in under 48 hours.
The case involved an auction purchase for investment purposes that was rejected by a high street lender because the property didn’t have a bathroom.
It arrived mid-morning on 13 July via recorded delivery from Bournemouth-based packager, Positive Lending, and an offer was offered within two hours of being underwritten.
On 14 July, specialist lender services law firm, Pure Law, carried out all the necessary legal work and on 15 July, less than 48 hours after being submitted, funds were released by Drawbridge Finance and the case completed.
Paul McGonigle, managing director of Positive Lending, said: “Speed of completion was essential to this case and we weren’t let down. The flexibility and expertise of the underwriters