After a lifetime in property finance, I have no doubt what makes a successful short-term lender, its people!
The better the people, the faster the decision-making and resolution of issues: a skilled team finds solutions where others see obstacles.
Of course, well trained, experienced staff must have the authority to be flexible whenever necessary and have an immediate route to decision-makers when needed.
Not all loans tick all the boxes at the outset, but experienced staff members can identify and resolve all the issues on day one, without delay and before incurring expense.
New faces
Anticipating an immense increase in demand for loans, we have increased our headcount and recruited three new star performers in order to improve service.
First, our financial controller, Laxmi Sivasubramanian, was recruited from Investec to lead our accounting function and take it to the next level.
As a result, replies to redemption requests, requests for monthly statements and integration with sales and asset management now occur seamlessly.
More recently, James Ansher, joined us from Cynergy Bank to become head of property. In this in-house role he reviews the property aspects of new proposals and works with valuers he knows well so that they report promptly and avoid wasted valuation fees when it is obvious that borrower’s ambitions cannot be satisfied. We believe “yes” is best but when it is “no”, let the decision be swift.
When it comes to providing a swift and accurate decision, experienced underwriters are crucial, and this month, our new head of underwriting, Claire O’Brien, has joined us from United Trust Bank.
Claire is a gifted and highly-respected executive and brings a wealth of experience and knowledge, which will further streamline our due diligence process.
At the same time, our asset management team has been expanded so that development loans are drawn down speedily and then managed efficiently, ensuring our developer clients receive stage payments on time and assistance whenever required.
Similarly, our sales team of seven BDMs, supported by six case managers, provide a friendly and helpful voice whenever brokers call, with local presence in Manchester and Liverpool as well as here in the South.
Business at Alternative Bridging is expanding for a number of reasons: market conditions, the competitiveness of our LTVs and rates, among others; but ultimately, it’s down to the enthusiasm and skill of our people, as they provide the service and certainty of completion that we’re known for.
Brian Rubins is executive chairman at Alternative Bridging Corporation
