Mortgage Brain partners with Propp to support brokers with rising specialist finance referrals

Data from Propp, the UK’s first specialist property finance comparison site, reveals that since April 2022 queries for bridging products leapt 156 per and requests for commercial products rose by 140 per cent.

Mortgage Brain said the deal has created a streamlined process for brokers sourcing unregulated bridging or commercial loans and referrals draw a “substantial” procuration fee on all completions.

Mortgage broker software and data provider, Mortgage Brain said the system can be accessed remotely, providing brokers with the flexibility to refer cases at a time that suits them and their clients, adding: “Nationally, bridging lending is growing in popularity, particularly with homebuyers who have experienced a breakdown in their property purchase chain following recent housing market turbulence. It has also become a tool widely used by landlords and investors who, being squeezed by tighter buy-to-let margins, are turning to auctions to pick up a bargain.”

It continued: “The commercial market is on the up after being hit first by the pandemic, and then again by rate increases and instability following the mini-budget. Finally, lenders are returning to the market with an appetite to lend, so it’s a great time for brokers to capitalise on pent up demand for commercial refinance.”

With current demand on the increase, this could be an ideal time for brokers to explore new opportunities in unregulated lending.

Peter Williams, CEO of Propp, said: “We are delighted to have been given the opportunity to support Mortgage Brain’s network of brokers with specialist property finance referrals. Due to the current challenging mortgage market, brokers are looking at numerous ways they can generate an additional revenue stream and we believe that bridging and commercial finance could be the answer.

“The beauty of working with Propp is that we have the experts in place to find exactly the right deals delivered with first-class service, so brokers making referrals can rest assured that their clients are in the safest hands.”