Since first re-entering the market with products at 90 per cent loan to value (LTV), Accord has seen record levels of lending.
To ensure we could maintain the best possible service for our brokers and partners, we had no other option but to temporarily pause lending at this LTV.
It’s likely this pattern of entering the market for limited periods of time will repeat until more lenders join, and crucially remain, in the 90 per cent market.
It is therefore important for lenders and brokers to work together to create the maximum capacity possible.
These are challenging times. Everyone is raring to go but there are still a number of hurdles to overcome, so we need to ensure we’re adapting to the change of circumstance and using all the tools available to help make things better.
Lenders can then use their capacity to underwrite more cases, and brokers will save time and provide a quicker service to clients.
Helping you to help yourself
Technology has been the key driver in keeping everyone connected through this crisis.
Despite many lenders having to reduce call capacity there are plenty of channels still operating to access information and also more opportunities to self-serve, meaning you can get answers in just a few clicks, rather than waiting in a phone queue.
Consider using webchat for a quick response with a transcript of the conversation you can add to your files, get the status of cases using the lender online portal.
And most lenders have a dedicated Covid-19 page regularly updated with all the latest information.
We publish our latest turnaround times on our website so you can see always what we’re working to as well.
And if you do need to speak to your business development manager (BDM), please bear with them. They are receiving hundreds of emails and phone calls every day and so they may take a little longer to get back to you.
Getting your applications approved first time is a real timesaver.
A few extra minutes spent ensuring all the packaging requirements are sent with the initial case submission could save days in the long run if the case can be offered without requesting additional information.
Don’t forget yourself
Finally, these are very unusual times and while it’s great to see business picking up, it’s important to ensure you are looking after your own wellbeing.
Many of you will have seen improvements to your working lives in recent months.
No commute to the office and no lost time spent travelling to meetings and events improves productivity and allows more time with family, or doing hobbies.
Don’t ignore the benefits of these changes and let an increase in workload replace the space you need to unwind, rest and recharge for the next day.
The more you look after yourself, the more effective you are at work and the better you will be at doing your job.
While none of us could have predicted the coronavirus pandemic, it’s important to acknowledge the impact it has had on both ourselves and our clients.