Rely has completed a buy-to-let remortgage in 6.5 working days, moving a landlord off bridging finance shortly after refurbishment works were finished.

The specialist lender said the case ran from initial application through to completion and the release of funds in 6.5 working days.

The remortgage involved a single residential investment property owned by a portfolio landlord. The borrower had completed refurbishment works using a bridging loan and was looking to move onto a term product as quickly as possible in order to cut ongoing bridging costs.

Rely said the deal still required an onsite valuation and a more detailed underwriting process because of the size of the client’s wider portfolio, but was nevertheless progressed through to completion at pace.

The case is likely to appeal to brokers working with landlords looking to refinance out of short-term debt following works, particularly where speed remains a key part of the transaction.

Adrian Moloney (pictured), group lending distribution director at Rely, said: “This case is a great example of how Rely delivers across all areas of buy-to-let.

“Although the client is an experienced landlord with 12 properties in their portfolio, this application related to a single residential buy-to-let property, demonstrating our expertise across all landlord types, from firsttime landlords to portfolios.

“Every case is approached with the same level of specialist knowledge and professionalism.”

Joel Gross, mortgage broker and director at Gross Finance, said: “Since Rely entered the market, their combination of intuitive technology and pragmatic underwriting has been a gamechanger.

“For this specific case, the speed was critical; moving a client from bridging to a term product in just 6.5 days is almost unheard of in the current climate.

“Rely has rapidly become my first port of call for specialist buy-to-let because they don’t just offer competitive products – they deliver the certainty and pace that my clients demand.”