How Does Bright Property Finance Work?

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How does Bright Property Finance work?

Clients are usually referred to us from intermediaries with a proposal or a full application of their funding needs.

The proposal, once received at our Head Office, is allocated to a decision-making account manager. The terms of the proposal are processed and an "in principle" offer of terms is issued by fax or email usually within an hour of receipt of the completed proposal. Once the terms of the funding offer are accepted then Bright Property Finance begins the completion process.

The completion process involves the following:

Completion of a full loan application followed by payment of the valuation of fee (typically around Ł350 plus VAT) charged by one of our panel of Valuers. This will vary depending on the type of property and will be included within the offer of terms. This fee is paid by credit card, again to ensure no delay to instructing the valuation.
At the same time as we instruct our Valuers we will also instruct one of our Solicitors to carry out all necessary searches on the property or properties that are to be pledged as security. The conveyancing will be carried out as fast as the client's solicitors will move. It is therefore essential that the clients solicitor or licensed conveyancer will act as quickly as possible.
Once the necessary valuation is received and all the searches are satisfactory, our solicitors will arrange for a 1st charge to be given on the property. Once the charges are in place then the funds will be released. The process from enquiry to the release of funds can take between 3 - 7 days.