Link Lending introduces title insurance on remortgages
Bridging and short term funding lender, Link Lending Limited, has announced that title insurance supplied by Stewart Title is now available for all remortgage cases of up to £1 million.
The title insurance will apply to all new applications and will allow remortgage cases to typically be completed within 48 hours of the application being received.
John Maclean, Link Lending’s managing director, explained: “Typically, short term/ bridging loans for remortgage purposes are sought to fill the gap between the date when the new funding is needed and the point where a long term mortgage deal can be arranged.
“This means that the short-term remortgage funding – whether for commercial or residential purposes – is often needed at very short notice. Now, with title insurance included as standard within our legal fee structure, borrowers can be confident that their remortgage application will be fast-tracked and that funds will normally be available within two working days.
“Title insurance protects the lender against any defects in the title of the property included in the scheme and can dramatically shorten the time required in the legal process. The title insurance we now have in place gives us the confidence we need to proceed to a very speedy decision and advance of funds.”
“We are delighted that our association with Link Lending allows us to further expand our title insurance offerings in the remortgage market,” said Jonathan Woodcraft, head of sales and marketing, Stewart Title Ltd., UK. “Title insurance expedites the entire remortgage process while mitigating the risks involved so both parties are protected from the unexpected.”
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