Quantum Mortgages has officially launched its bridging proposition to the wider mortgage market.
The specialist buy-to-let lender, which marked its third anniversary in March, has spent the past year developing its offering. The bridging range, which underwent a soft launch to select partners earlier this month, is now available to the entire market.
Designed with a fully online journey, the lender claims its new bridging proposition includes “instant” terms, “certainty of decision”, and a transition to a Quantum Mortgages buy-to-let exit.
It also offers no hidden fees, and an arrangement fee that is deducted from the loan amount up to the maximum Loan to Value (LTV).
The process can be speeded up with the use of a dual representation legal process, which removes the requirement for compulsory legal advice.
FLEXIBILITY AND SPEED
Wes Friedel, head of bridging finance at Quantum Mortgages, said: “We are thrilled to unveil our bridging proposition to the market.
“Our bridging range has been a year in the making, and we’ve designed our short-term lending product to offer the flexibility and speed we’re renowned for, ensuring that our clients can secure the funding they need quickly and confidently.
“Having worked in the short term finance industry for over 10 years, I have seen and dealt with the pain points of many brokers and borrowers who want a simpler, more open and honest approach to bridging finance.
“This experience fuelled our determination to create a proposition that would cater to the demands of today’s landlords.”
EARLY ACCESS
Quantum introduced the bridging range exclusively to a group of trusted intermediaries as part of its Quantum Disruptors Club (QDC) last month.
Harsha Dahyea, chief commercial officer at Quantum Mortgages, added: “At the beginning of March, we gave early access of bridging to members of the Quantum Disruptors Club (QDC).
“We wanted to give some of our trusted partners the opportunity to test out our proposition before the official launch so we could measure the appetite in the market and ensure our criteria and products were aligned with our existing portfolio of borrowers.
“We’re delighted with the demand we’ve seen so far and are looking forward to growing our short-term lending pipeline.”
The new bridging products will be available for a range of property and transaction types including standard and non-standard construction; ex-local authority houses and flats; HMO and multi-unit properties (up to 12 units); flats with deck access over five storeys as well as auction purchases, refinances, below market value purchases and refurbishments.
