Fintech in Motion
Black & White Bridging have recently completed one of their fastest ever loans – a refinance of 3 flats. The deal, for £174k, completed in approximately 5 weeks, with two bank holidays and the end of the school holidays within the completion period which usually slows processes down. We were able to provide funds so quickly by using an automated valuation model (AVM) tool, ensuring that timescales were vastly reduced which meant the client could pursue with the refinance
Why It Matters
straightaway. The deal, which was also rescued from another lender, shows the vital use of technology within the finance sector in order to help businesses secure finance quickly in order to grow. Without the AVM and the quick turnaround by Black & White Bridging, it was unlikely that the loan would have completed. Commercial Director Damien Druce comments: “This is the perfect example of ‘fintech in motion’.
How It Applies
We are nimble as a business; we are always on the lookout to get deals done quickly and without fuss. In this case, another lender was stalling, so we were able to give the client confidence that we could complete quickly, and that’s exactly what we
Key Takeaway
did.’ As the architects of truly transparent lending, Black & White Bridging operate in the short-term lending space, focused mostly on bridging finance, and can produce market-leading turnaround times for brokers and their clients.
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