"It is not just a matter of knowing what the borrower needs now, but also confidently anticipating what they will need in the coming months - and even years - that follow."
LendInvest has launched a new process for development finance borrowers to transition between products.
The process allows existing borrowers to transfer easily between specialised loans, whether it’s from pre-construction finance to refurbishment finance, or development finance to a development exit loan.
Borrowers will speak directly to the same team they dealt with when they applied for their first loan to provide continuity of service and speed up the administrative process for completing a loan transfer.
The borrower will also benefit from a shorter application form, reduced underwriting on their subsequent loans and the use of an internal quantity surveyor.
Ian Thomas, Co-Founder & Chief Investment Officer at LendInvest, commented: “As a modern mortgage lender, we are continually thinking and devising new innovations that transform for the better how our developers can access the finance they need and move as smoothly as possible through the loan process. It is not just a matter of knowing what the borrower needs now, but also confidently anticipating what they will need in the coming months - and even years - that follow.”
Steve Larkin, Director of Development, added: “In building this fluid transition process, which exists nowhere else in the market, we ensure that we have even more flexibility to consistently deliver the best service whilst passing on savings in time and money to the borrower.”