Hampshire Trust Bank (HTB) has introduced dual representation for bridging cases, in a move that aims to simplify the process for brokers and borrowers.
The move aims to simplify the legal process by allowing one law firm to present both the lender and borrower.
By eliminating the need for multiple legal teams, HTB said dual representation creates a “smoother, more unified process”.
It will also reduce delays and lowering costs, particularly for clients working to tight deadlines, it said.
It means that its legal panel is expanding to include HCR Law.
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A streamlined process
Lorenzo Satchell, sales director of bridging at HTB, said: “Dual representation is an important enhancement to our bridging proposition, responding directly to feedback from brokers who wanted a faster, more streamlined legal process.
“Our partnership with HCR Law allows us to offer exactly that – one team, one smooth process, removing unnecessary steps and delays.”
He continued: “In bridging finance, speed is critical, and dual representation ensures that cases move along faster by improving communication between all parties.
“It also reduces legal costs, with clients only needing to pay for one set of solicitors instead of two.
“This combination of speed and cost-effectiveness makes a real difference for brokers and their clients, ensuring they get the best possible support when time is of the essence.”
Simplified transactions
Clare Day, partner at HCR Law, added: “HTB has an excellent reputation in the bridging market, and we’re delighted to join their panel.
“We’ve been managing dual representation for years, and our experience allows us to guide both parties through the process smoothly and efficiently.
“This approach simplifies transactions, reduces potential pitfalls, and ultimately leads to faster completions.”
