Central Trust delivers fast completion on broker case

“No Valuation, Internal Legals”: Central Trust Delivers Fast Completion on Broker Case for KIS Finance

Since launching our regulated bridging product in February, we have seen strong uptake from brokers, with a number of cases already completed and positive feedback on its speed, simplicity, and competitive positioning.

The product offers up to 75% LTV on 1st charges and 70% LTV on 2nd charges, with loans starting from £20,000, secured against the borrower’s primary residence (minimum property value £75,000). With a maximum term of 12 months, the product is tailored for short-term needs such as home improvements and light internal refurbishments.

A number of brokers have already placed cases with the product, including independent specialist finance brokerage, KIS Finance. The brokerage originally reached out to us with a case involving homeowners wanting to use short-term finance to complete improvements to their home, with the intention of increasing its value and selling it once the works are complete. The bridging loan acted as a temporary solution until the property sale can be completed. KIS Finance has since expressed strong satisfaction with the product and our dealings with their client.

Phoebe Appleby, Senior Bridging Advisor at KIS Finance, said: “I have just completed our first bridging loan case with Central Trust, and I can honestly say that the process was excellent start to finish.

I submitted the case on a Friday afternoon, and an underwriter came back to me after 5:30pm the same day with a full update. With no valuation and internal legals, the lender side of things was completed within 3 working days, leaving only the second charge consent to complete. This was one of the quickest second charge bridging loans I have ever completed, and the lack of valuation and legal fees made the product very competitive for the client. Overall, a great outcome.

There was definitely a bit of gap in the regulated bridging market for these smaller loan sizes, especially with competitive rates, which Central Trust have filled.

It’s refreshing to see a new bridging lender with genuine USPs and delivering on exactly what they promised.”