With new lenders launching almost daily it seems, brokers looking for the best that our sector can offer are spoilt for choice. How do they choose from among so many candidates?
Sourcing engines can do some of the heavy lifting but how can brokers be expected to have intimate knowledge of each lender, their attitudes to risk and underwriting and their ability to turn round DIPs and complete cases quickly.
One of the best introductions to the bridging market is for brokers to use the services of a distributor/packager which represents a panel of lenders with whom they work on a regular basis and is ideal for brokers who are either new to bridging or just occasional users.
I am a great believer in giving brokers a choice as to how they access Black & White Bridging, which is why they can come to us directly or through a distributor.
An experienced team can provide unbiased opinions as to the best alternatives for any short-term lending case and brokers can be assured that whatever solution they recommend will have been thoroughly researched.
With the complexities of finding the right solution, many brokers have decided to make long-term use of distributors, which leaves them free to concentrate more time on their bread and butter mortgage business.
The choice of lending options in the bridging market makes our sector one of the most versatile in the lending market, but with the right help brokers don’t need to feel that choosing the right solution for their client is a problem.
Damien Druce is commercial director at Black & White Bridging
