United Trust Bank has completed a £125,000 second charge loan from application to completion in two days.
The debt consolidation case was submitted on April 14, with supporting documents received on April 15 and completion taking place the following day.
UTB said there were no additional post-offer conditions, no rework and no delays, allowing the case to move directly through to completion.
The lender said the case reflected recent changes to its second charge loan process, including more decisive underwriting, reduced documentation requirements, fewer post-offer conditions, improved case packaging guidance for brokers and a simplified end-to-end process.
UTB said the changes were already helping well-packaged cases progress more quickly, with some completing within 24 hours.
Andrew Ferguson (pictured), commercial director – mortgages, buy-to-let and bridging at United Trust Bank, said: “We’ve listened carefully to broker feedback, taken a hard look at our systems and requirements and made tangible improvements to how we process second charge applications.
“By cutting out unnecessary friction, streamlining our underwriting and focusing on what really matters, we’ve significantly accelerated the journey from application to completion.
“When a case is well presented, we’re now able to move extremely quickly – and we’re already seeing our deals fly through. This case is a great example of what UTB is making possible.”
