Let’s face it: complexity is the norm for most brokers. They’re handling more complicated cases which require flexibility to support. And let’s be honest, most lenders aren’t that flexible.
But at Hampshire Trust Bank (HTB), complexity isn’t a reason to say ‘no’. We see it as an opportunity to be creative and come up with bespoke solutions.
We relish the challenge of tailoring something that meets a client’s particular circumstances. It’s about finding a way through and collaborating with brokers and others so that we can find an answer that makes it happen.
I know that’s not the experience brokers have with all lenders. I talk with brokers regularly, and they’re often frustrated by how some lenders handle complexity.
It’s like they have a tick-box, setting out the various elements a case must have to proceed. The second something falls outside that box; the lender says they can’t help.
That’s bad enough, but these lenders are often slow to work out if they can handle a case. It doesn’t have to be like that.
The need for speed
Being determined to find a creative answer is only the start. These borrowers don’t just want a positive answer, they want a quick one, too.
Speed is crucial to borrowers of all kinds. They have a project in mind and want to get on with it.
That’s true of first-time buyers who have spotted their dream home, just as it is of investors who have found a property that will deliver them a hefty profit once it’s been given some TLC.
Lenders need to find ways to give clients a quick answer and work out a speedy solution so the client can get on with it.
Investors often want to get their hands on the property before someone else spots its potential so they can carry out the refurbishment needed to get it up to scratch and tenanted as soon as possible.
Give it to me straight
Speed is just as crucial when the answer is less positive. There’s no point dragging out a ‘no’.
Sometimes, a lender can’t take on a case, and brokers are generally fine with that. There are other lenders they can try.
When lenders drag their heels over providing that response, knowing they won’t take it on, it causes issues.
Of course, complex cases might take a little longer to assess and work out if there’s some creative solution that will work.
But if you aren’t going to be able to put together that solution, then at least give the broker a quick answer so they and their client can move on.
We understand the challenges our brokers face in the current market. You’re a busy bunch and have plenty to deal with daily.
You won’t find too many brokers twiddling their thumbs – they have plenty of clients with projects on the go and want to know where they stand.
This is only exacerbated with complex cases where more work needs to be done to find a lender willing to take on the case.
If the answer is going to be ‘no,’ then lenders need to get on with telling the broker and borrower so they can pursue other options.
It’s not good enough for a lender’s dilly-dallying to mean a case collapses. Brokers and their clients need to be treated honestly and with respect.
Getting creative quickly
Overcoming complexities quickly doesn’t happen by accident. It’s not as simple as deciding to be a nimbler and quicker lender. It results from a lot of hard work, combining the right team with the right way of working.
We’ve built a great team at HTB and given them the tools they need to help find creative solutions. Everyone buys into the same ethos—giving brokers and their clients the best experience quickly.
Our team works closely with brokers, knowing they are trusted to find a bespoke solution. Being on the same page means we can find answers when others are fixated on the complexities.
Brokers need to know which lenders thrive under the pressure of complex cases, even when the clock is ticking.
At HTB, our unmatched expertise and agile process ensure we handle these scenarios effectively.
From initial inquiry to completion, our case managers, underwriters, and completion experts collaborate seamlessly with brokers and partners, ensuring a smooth, hassle-free experience.
Alex Upton is managing director, specialist mortgages at Hampshire Trust Bank
