Borro offers 48 hour valuation guarantee for bridging loans

Borro is offering brokers a 48 hour valuation for bridging loans from first contact by a surveyor or their valuation fee will be refunded on completion.

The offer is for all properties valued in London and the South East which have a maximum value of £3m and a max gross loan-to-value of 70%.

Claire Barrington-Jones, director of sales at Borro, said: “We know from talking to our introducers that the average time to complete a bridging deal is getting longer.

“This negates one of the main unique selling points for which bridging is renowned and time taken to undertake valuations and return them to the lender has been cited as one of the main reasons for delays.

“By ensuring that the valuation is completed and returned within 48 hours, we can make sure that we meet and exceed our introducers’ expectations.”

The guarantee includes residential property only but includes both regulated and unregulated.

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