This significant boost to Link Lending’s lending capacity follows the lender’s recently-announced return to open bridging (ie – where the redemption date is not fixed at the outset), and a major investment in web-based facilities for brokers that include an online DIP; 24/7 case tracking facilities; a document library; a live/online messaging service; case studies and a Q&A.
John Maclean, managing director of Link Lending, commented: “We are delighted to announce this increased funding capacity, which reflects our investor’s confidence in Link Lending’s strengths as a business and our expertise in the short term loans sector. The early focus of our new funding will be for residential property however we hope to announce further initiatives in the coming months.
“At a time when other short tem lenders may be struggling to re-cycle their limited volume of funds – as borrowers find it harder to source a long-term lender to redeem their bridge – Link’s increased funding levels should provide mortgage brokers with a welcome opportunity to boost their business levels and ability to satisfy more of their clients’ needs. This in turn should provide brokers with not only commission income from introducing the bridging loan but also the additional procuration fees from arranging the long term finance that the client will need. We hope that our increased ability to lend is an early sign of the mortgage market returning to a healthier state overall.”
Link Lending’s terms include true daily interest, no minimum term, no exit fees, and flat rate legal fees.
