"Beyond just speeding things up, title insurance can open doors to transactions that might otherwise seem too complex or risky."
Speed is a word that’s used frequently in bridging lending, with most bridging lenders promoting the speed of their decision making and service in an attempt to stand out from the competition. The truth is, however, that the time it takes for a borrower to receive their funds is often dictated by the speed of the property transaction as that of the lender involved.
So, in a market, when transaction times appear to be lengthening, what options are there for brokers to expedite a bridging loan when time is of the essence for their clients?
When it comes to researching the options and submitting an application, one of the most constructive steps a broker can take is to make the most of the BDM support that is available to them. At Castle Trust Bank, we recognise that BDMs are a key part of the lending process, acting as problem solvers who can connect borrowers with the right solution for their requirements. And so, we continue to invest in and grow our sales team, most recently with the addition of a new BDM for London.
Technology is also a valuable tool during the early part of the process, with online application and case tracking platforms enabling the delivery of rapid decisions. But once a case has been accepted, what is it that makes some cases complete faster than others?
Title insurance
One of the key tools we’ve embraced at Castle Trust Bank is title insurance. It’s not exactly a new concept, but when applied thoughtfully, it can make a world of difference. Title insurance provides a safety net for lenders, protecting against issues that might arise with a property’s title if possession becomes necessary. It’s comprehensive, covering everything from fraud and forgery to solicitor negligence and unknown defects — things that traditional searches might not pick up. For lenders, this means fewer bottlenecks in the process and the ability to focus on what really matters: underwriting the deal effectively and moving quickly.
Beyond just speeding things up, title insurance can open doors to transactions that might otherwise seem too complex or risky. A recent example is a portfolio loan we arranged for 19 buy-to-let properties in London, valued at £9.3m. It wasn’t a straightforward case, with several legal complications in the mix, but thanks to a bespoke title insurance policy from Westcor International, we got it over the line. The result was the quick completion of a £5.4m loan for our clients, who live abroad, and a process that was swift and seamless.
Dual rep
Another approach that we have introduced is dual representation – where one legal firm represents both the lender and the borrower. It’s a simple idea, but the impact can be significant. By streamlining communication and cutting out unnecessary back-and-forth, dual representation can save days — sometimes weeks — on a transaction. Take one of our recent cases, where we worked with Russell-Cooke Solicitors to refinance a large multi-unit freehold block in London. From offer issuance to completion, it took just nine hours.
Of course, dual representation isn’t a one-size-fits-all solution. Some clients may feel more comfortable with independent legal representation, particularly on more complex cases. But for property investors who value speed and efficiency, and for brokers who are navigating tight timelines, it’s a powerful option. In fact, we’ve seen so much success with this approach that we’ve expanded it beyond bridging loans to include our term buy-to-let mortgages too.
It's been particularly gratifying to see how these efforts have translated into real-world results for brokers and their clients. A recent five-star review posted on Trustpilot summed it up perfectly, saying “Castle Trust operates with a level of pragmatism and speed of execution lacking in the market. I look forward to working with them again soon.” It’s feedback like this that reminds us why we do what we do and the importance of continually investigating new ways to enhance the service that we offer.
Bridging is about creating opportunities — helping brokers and their clients act quickly and decisively when it matters most. By using tools like title insurance and dual representation, and by continuing to invest in technology and support, we can help to ensure that those opportunities aren’t missed.
