Together has provided finance for Fluent Money Group’s first short-term loan following its launch into the bridging market.
Fluent Bridging’s client wanted to raise £389,341 to redeem a loan secured against a converted flat which is currently on the market.
They submitted the packaged case to Together on 13 April and the lender used its automated valuation model (AVM) to carry out a Hometrack search, removing the need for a physical valuation.
It then agreed to provide a commercial bridging loan and the funds were delivered to the customer on 23 April.
Marc Goldberg, commercial chief executive at Together, said: “We’re incredibly proud to have delivered Fluent Bridging’s first-ever loan after the group’s launch into the short-term finance market.
“We have built up a fantastic relationship with the Fluent Group, having provided their clients with residential and buy-to-let mortgages for nearly a decade, and have always been impressed by their consistently high level of service.
“We’ve no doubt this will continue and believe they will enhance and transform the dynamic bridging sector.
“That’s why we’re excited about strengthening Together’s links with John and the team to provide more opportunities for borrowers, as Fluent continues to successfully build the bridging side of its business.”
John Hardman, managing director of Fluent Bridging, added: “Whilst not every bridging loan is time-critical, time really was of the essence on this occasion.
“I was really impressed with the way Marc’s team attacked this, providing immediate peace of mind to our client and delivering a tailor-made solution in double-quick time.
“We anticipate that Fluent Bridging will grow very quickly and Together demonstrated they can provide the same exceptional levels of service that we do as a broker and packager. This is, without doubt, the first of many deals we will complete with Marc’s team”.