Ensemble finances Fluent Money’s first bridging loan
Together funded Fluent Money Group’s first short-term loan after it launched in the relay market.
The Fluent Bridging client wanted to raise £ 389,341 to pay off a loan secured by a converted apartment which is currently on the market.
They submitted the packaged case to Together on April 13, and the lender used their Automated Appraisal Model (AVM) to perform a Hometrack search, removing the need for a physical appraisal.
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She then agreed to provide a business bridge loan and the funds were released to the client on April 23.
Marc Goldberg, Chief Commercial Officer of Together, said: “We are incredibly proud to have granted Fluent Bridging’s very first loan after the group launched into the short-term finance market.
“We have built a fantastic relationship with the Fluent Group, having provided their clients with residential and rental mortgages for almost a decade, and have always been impressed with their consistently high level of service.
“We have no doubts that this will continue and we believe that they will improve and transform the dynamic sector of the transition.
“This is why we are excited to strengthen Together’s bond with John and the team to provide more opportunities for borrowers, as Fluent continues to successfully develop the gateway side of their business. “
John Hardman, Managing Director of Fluent Bridging, added: “While not all bridging loans are urgent, time was really of the essence on this occasion.
“I was really impressed with how Marc’s team tackled this, providing immediate peace of mind to our client and delivering a bespoke solution in record time.
“We expect Fluent Bridging to grow very quickly and Together has demonstrated that they can provide the same exceptional levels of service as we as a broker and packer. This is undoubtedly the first in a long series of transactions that we are going to conclude with Marc’s team ”.