One of the main questions we receive from brokers and borrowers alike is “How quickly can funds be released?” It’s not always a clear-cut answer and can be down to a number of factors. Greenfield Mortgages has been known to complete in as quickly as 7 days. To achieve quick timescales like this however is dependent on several factors, a few of which have been outlined below. One element of Greenfield’s process that automatically makes the pace of our service quicker is the fact that all underwriting is conducted from the beginning of our process. All cases will receive a same-day decision on a ..read more

Clever Lending, the specialist finance packager and master broker, has secured a £307,000 regulated bridging loan to allow a client to downsize after suffering a hat-trick of setbacks. Despite deciding to pull out of their first purchase due to dry rot, being gazumped on a second property, agreeing revised terms on a third property before reverting back to the second property after the gazumper pulled out of the transaction, the expertise, flexibility and desire shown by the lender and the broker still managed to get the deal done. From the introducer approaching Clever Lending ..read more

In today’s Greenfield Mortgages blog post, we’ll explore the intricacies of bridge financing. We’ll cover everything from the different forms of bridge financing available to commercial bridging loan opportunities, and how to structure a bridging loan around your requirements. This is an area in which we have many years of experience and a deep-seated understanding of the markets. But first, let’s answer the all-important question: What is bridging?    What is bridge financing? Bridging financing is a short-term loan that’s generally paid off after around 12 months. We find this type ..read more

In today’s blog, we’ll delve into the world of short-term loans, and bridging loans in particular, giving you an idea of why you might use this highly flexible and extremely useful form of short-term loan. Let’s start with a definition of short-term loans. What are short term loans? A short-term loan can be structured in many ways, for example secured or unsecured, personal or business, but is always debt finance taken over a short period of time – generally between 3 and 12 months. They’re usually used as a means of providing flexibility, or reassurance, to parties of a (property or business ..read more

Greenfield Mortgages is delighted to announce it has joined Legal & General Mortgage Club’s panel of specialist lenders. All of Greenfield Mortgages’ bridging products will be available through the club. Further, all of Greenfield’s criteria can be found via L&G’s SmartrCriteria tool, which helps advisers quickly determine which lenders would consider a particular mortgage applicant.   Averil Wagoner, Relationship Manager at Greenfield Mortgages said: “We are very pleased to be kicking off 2021 by joining L&G’s panel of specialist lenders. We look forward to growing ..read more

Despite the many roadblocks the pandemic has presented, the housing market has shown continued resilience and determination. As we’ve seen in past years, home movers are always keen to complete before the holidays when many solicitors close their doors for the holiday season. According to Nationwide, house prices rose by 0.9% in November. This put annual growth at 6.5%, the highest it’s been since 2015. Further, figures from the Bank of England showed record numbers of mortgage approvals and completions towards the end of 2020. More than 100,000 mortgages were being approved in November defyin ..read more

We wrapped up 2020 on a high note. Positive Lending introduced a case where a property had been purchased at auction. The property’s 28 day completion window had expired and an additional 10 day extension was granted to the client before they would lose the property. On top of this, the solicitors advised the property could not be insured and the deal couldn’t complete within the required two-week window. This combination of obstacles left the clients distressed and unhappy with the outcome. Greenfield Mortgages BDM Alex Doveston took matters into his own hands and sourced the exact insurance ..read more

Greenfield Mortgages is pleased to feature in the Broker Tools section on The Mortgage Broker Club. The Mortgage Broker Club is an online platform that was created to provide mortgage brokers with a ‘one-stop-shop online tool to source products and services. “We are delighted to work with the Mortgage Broker Club and feature in their broker tools area,” said Averil Wagoner, Relationship Manager at Greenfield Mortgages. “We are always keen to make our products more accessible to introducers and working with The Mortgage Broker Club helps us do just that.” Michael O’Brien, Co-founder at The Mort ..read more