‘I used 26 lenders last year but should try to use many more’ – Star Letter 02/08/2019

‘I used 26 lenders last year but should try to use many more’ – Star Letter 02/08/2019

 

This week’s top comment goes to Doug for his response to the article: ‘Fewer customers should be placed with high street lenders to start with’ – L&G Mortgage Club.

He said: “I know some brokers who only seem to use five to six lenders from a panel of 60+, but they have their reasons [such as] working for a new build company or [being] tied to an estate agent where speed and knowledge of the lenders’ criteria is king.

“My KPIs (key performance indicators) show 26 different lenders used last year, which is better than most, but I should try and use many more.

“Smaller lenders are great for interest-only cases, later life lending, self-build or refurb properties, properties with two kitchens, unusual income, joint application sole borrower – the list goes on and on.”