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Brokers want quick decisions and solid service from bridging lenders

by: Edward Murray
  • 18/07/2016
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Brokers want quick decisions and solid service from bridging lenders
Turnaround times and support from business development managers ranked highly in the list of attributes brokers look for when choosing a bridging lender, research from Lendinvest revealed.

A survey from the specialist lender found 100% of the brokers who took part in the named turnaround times and support from business development managers as either very important or essential factors when choosing a lender for clients.

This compared to credit and underwriting conditions that were named by 83% of brokers as being very important or essential. At the other end of the scale 66% of brokers rated communications, training and development as being of only little or average importance.

In the wake of the Brexit vote, the need for a quick turnaround times and reliable service levels  is even more important, said Matthew Tooth (pictured), head of distribution at LendInvest.

He said: “These survey results show how important it is for lenders to offer a full service. Boasting low interest rates alone simply won’t cut it – intermediaries and their clients want to work with lenders that can deliver the funds quickly and offer round-the-clock support.”

He added: “With the UK voting in favour of a Brexit, we now face a changing market – some lenders may look to pull back on their activity, or leave the market altogether. Lenders that can offer certainty of funding for cases that pass their existing underwriting requirements will be indispensable for intermediaries.”

 

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