TUSCAN CAPITAL LAUNCHES AUCTION FUNDING SOLUTION AND STRENGTHENS CREDIT & RISK TEAM
Bridging finance provider Tuscan Capital has announced the appointment of an experienced underwriting manager and revealed to B&C an enhanced suite of bespoke short-term funding solutions.
Auction Funding by Tuscan Capital is a ready-approved ‘hunting fund’ specifically designed to provide credibility and proof of funds when bidding at auction.
The lender revealed to B&C that its key features include:
- Funding available up to 85% of the purchase price or up to 75% of the valuation, whichever is the lower.
- A certified Offer of Finance subject only to final valuation and title clearance.
- Access to a dedicated legal team experienced in managing urgent property purchase matters.
- Title insurance specially negotiated to expedite the legal process and help overcome red tape and bureaucratic hurdles.
- The services of a carefully-selected Valuation Panel to provide prompt turnaround times (within 48 hours) and a copy of the final report immediately upon issue.
- Lending against bricks and mortar in England & Wales from £150,000 to £3,000,000.
Colin Sanders, CEO of Tuscan Capital, said: “Research among our brokers revealed a keen appetite for a product suitable for property bidders looking to close purchases quickly and with certainty. We believe Auction Funding by Tuscan Capital serves precisely this purpose.
“Designed with speed and confidence in mind, Auction Funding by Tuscan Capital has received a warm welcome. Anticipating strong demand, we’ve allocated a dedicated tranche of funding to support this latest lending channel. Early indicators suggest we were wise to do so.”
Sanders also confirmed to B&C that the lender has recently made a new appointment to its Credit & Risk team.
With immediate effect, Jade Arnold-Brown is appointed to the newly-created position of underwriting manager reporting to head of Credit & Risk, Dena Thompson.
With over a decade’s experience in property-focused financial services - the last four of which have been in bridging - Arnold-Brown was previously an underwriter with short-term lender Alternative Bridging Corporation.
She has successfully passed CeMap 1 and is currently studying to complete parts 2 and 3 in the near future.
Sanders said: “Jade brings to Tuscan Capital a sharp eye for detail and a willing, can-do aptitude to work with our broker partners to ensure a smooth passage for their clients’ deals.
“Despite having become a mum only recently, Jade’s determination to push ahead with her professional qualifications exemplifies the character of the team we’re building here at Tuscan Capital. For us, it’s quality over quantity every time.”