Move designed to speed up new bridging deals up to £2 million
Specialist lender StreamBank has introduced title insurance on all new bridging loans up to £2 million, in a move designed to cut delays and offer greater certainty to brokers and their clients.
Effective immediately, the insurance will be included in quotes unless applicants opt out. Provided by Westcor, the policy is aimed at reducing legal checks and accelerating the completion process.
The cover ensures that the property has a clean title, the lender’s charge is valid, and the mortgage is secured on marketable title. Dual legal representation is supported for refinancing only, while single legal representation applies to both purchase and refinance deals.
The addition, intended to support faster turnaround times, follows StreamBank’s January launch of its StreamLine Bridging Product, which features rates from 0.65% per month and is targeted at larger residential bridging loans.
Bridging loan volumes have continued to rise in the UK, with completed deals totalling £2.3 billion in the final quarter of 2024. The sector’s total outstanding loans rose 14.4% to £10.3 billion, and market forecasts suggest it could reach £12.2 billion by the end of the year.
StreamBank, launched in 2023, specialises in bridging finance with a focus on speed and simplicity. It offers brokers direct contact with underwriters and aims to simplify the lending process.
“Adding title insurance into the mix is a simple change that can make a big difference,” said Roz Cawood (pictured), managing director of lending at StreamBank. “It gives clients peace of mind and allows brokers to deliver a smoother experience without sacrificing security. This is especially valuable on smaller deals where delays can have a disproportionate impact. We’re always looking for ways to make life easier for brokers, and this is just one more way we’re doing that.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
