Castle Trust Bank has lifted the maximum loan size on which it can use title insurance by 50% to £3m.
The specialist lender says it is now able to use this type of insurance to speed up transactions on its bridging and short-term light refurbishment products.
Title insurance provides protection against a wide range of issues such as adverse possession, common land, as well as outstanding leasehold interests and mortgages.
Castle Trust Bank commercial director Anna Lewis says: “Having a comprehensive title insurance policy in place enables a lender to focus on underwriting the fundamental elements of a bridging case and this supports a more efficient and effective application process.
“It also makes possible some transactions that would otherwise be impossible, where there are complicated legal issues surrounding the security.
Lewis adds: “This gives a lender greater certainty and it means that we can, in turn, provide greater certainty to brokers and their clients.
“Increasing the maximum loan size available to use title insurance to £3m is a firm signal that at Castle Trust Bank we are ready and willing to provide fast access to bridging finance on high value and often complex cases.”
