Speaking at The Specialist Lending Event 2020, Barnard said: “Two tips from me on bridging – sell the exit [loan] if you can at the same time.
“And make sure the client has taken the bridge out for a sufficient length of time. If they tell you it’ll take two months to do the work, it’ll take six.”
Barnard also told the audience bridging deals were far easier to complete than many brokers expect.
“Bridging continues to bloom. Many people think it’s difficult, it’s hard, it’s expensive – but it doesn’t have to be any of those,” he said.
“Many lenders these days will accept business direct and there are packagers and master brokers if you don’t feel confident to do it yourself.”