United Trust Bank (UTB) has announced the launch of a ‘Fast-Track’ service for bridging applications.

The streamlined service aims to simplify the process for straightforward transactions, which UTB suggested will improve the time required for brokers to get loans approved and paid out. 

Brokers will be able to create their own terms, DiPs and ESIS using UTB’s self-service broker Portal, or liaising with the in-house UTB Fast-Track team. The Fast-Track service will also utilise some of UTB’s existing fintech solutions such as Biometric ID verification, AVMs and dual legal presentation, to progress the application to offer and drawdown quickly.

The launch, which follows a soft launch of the service in Q4 2020, is the latest in a series of service enhancements introduced by UTB over the last 12 months.

Impact Specialist Finance managing director, Dale Jannels, commented: “We were very pleased to take part in the soft launch of UTB’s new Fast-Track service and our experience through the testing phase has been excellent.

“The key to sourcing and delivering bridging finance is speed and efficiency and this service provides a really quick turnaround if cases are submitted correctly. UTB are once again employing fintech and experienced, dedicated people to provide a welcome and innovative service to the bridging market.”

UTB commercial director – bridging, Gavin Diamond, added: “This is an exciting evolution of our bridging service and we firmly believe this will enable brokers to do more business, quicker and more easily with UTB.

“We understand that a quick turnaround is vital to most customers, and often why they’ve chosen bridging in the first place, so having developed and implemented a number of time and effort saving systems and processes, we’ve brought them all together to provide this market leading bridging service.

“Feedback from the brokers who participated in our soft launch has been overwhelmingly positive and we’re now ready to make it available to all UTB registered brokers.”

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