Pulling out all the stops for a speedy refinance

An existing customer of United Trust Bank contacted our broker late on a Wednesday afternoon to enquire about raising some additional funds for a number of new contracts that were about to start. A proposal was duly prepared by our broker for a refinance of a large, specialist low loader trailer which had a small balance owing on it to another funder.

The proposal was received by the Asset Finance team on Thursday morning, a third party valuation quickly carried out, and the deal approved on Thursday afternoon. In the meantime, the customer enquired with our broker as to whether funds could possibly be sent to him on Friday as there was now an urgent requirement to release funds to one of their suppliers in respect of equipment required for one of the new contracts.

A further complication was that the broker was based several hundred miles away from the customer, and the trailer being refinanced was out working in another part of the UK. Fortunately, at UTB we relish a challenge (!) so our Head of Sales, Keith Sangwin, signed up the customer himself as he lived a lot nearer to the customer in Surrey, and one of our BDMs, Gordon MacArthur, was able to intercept the trailer somewhere near Doncaster, to carry out an asset inspection.

Documents were then emailed to our office by our sales team and payment processed to enable us to release funds on Friday afternoon in line with our customer’s request.

When service and speed was critical for our broker and the customer, the UTB team were more than happy to pull out all the stops to ensure we had a happy broker and customer.

Loan Amount £170,000