Y3S Loans has completed a £900,000 second charge loan in 13 days.
It was processed through Prestige Finance.
Unable to find a mortgage lender to fund the case, it was received on a Friday afternoon via a London mortgage broker whose clients were looking to purchase a foreign investment property secured against their home.
Y3S referred the application to Prestige Finance and other lenders to obtain the best possible deal. Prestige quickly responded with the lowest rate at 5.50%, the intermediary-only packager said. As the clients were catching a trans-Atlantic flight early the following morning, the loan documents were emailed to a Y3S courier who was already in the area, and who met them at their home at 8pm to go through the paperwork.
Following the consideration period and a valuation of the property the case completed on Friday last week, just a few days after the client had returned from his holiday.
“This is Y3S showing its key strengths with one of the UK’s leading lenders” said Michael Gallagher, the senior finance broker at Y3S who completed the deal.
“Applying a combination of excellent lender relationships, mobile technology and our ability to be physically present anywhere in the UK within hours, we were able to make this deal happen quickly and without fuss; vital for high net worth clients.”
Darrell Walker, head of sales – second charge & commercial lending, Prestige Finance and Interbay Commercial, said: “Large loans are a key aspect of our lending proposition at Prestige Finance and we are delighted to have partnered with Y3S to provide a positive customer outcome in this case.”