Brokers shouldn’t be tied in reams of red tape or buried under a mountain of procedures.
First off, that means dealing with people, not tedious form-filling formalities. Brokers shouldn’t be put through to a call centre and made to feel like they’re ordering something from a catalogue. We make sure our brokers deal with the same case manager throughout every deal. That allows a rapport to be built and establishes trust, which helps push the deal through faster. On top of that, we have one case manager for every underwriter: twice the industry average.
When brokers find themselves needing to place a deal quickly, they want to know the lender will offer them a friendly, personal service with a get-it-done mentality. The best lenders will work around the clock to beat a deadline, and will keep form filling to a minimum. That’s also why we employ an internal valuation-auditor who assesses valuations. It gives our investors more confidence in the valuation, which means they can decide rapidly whether they want to fund the loan. That means we can finance deals more quickly.
Privately-funded lending models offer brokers the most consistent, and quick, deal flows. We deal with our investors directly, using an FSA authorised UCIS. We offer them a personal service, which allows them to see and choose the loan before they commit to it. We’ve built up a ‘club’ of around 180 private investors. With such a diverse investor club, we are in a unique position to offer a broad range of deals. You’ll see some lenders who prolong the length of a deal, often because they don’t immediately have the funds to finance it.
Unlike orthodox funding models that depend on mainstream banks, our model allows us to constantly fund new deals, so we don’t have to wait for a loan to redeem before we offer new ones. With traditional funding models hostage to the gridlocked economy, it’s likely we’ll see more lenders emerging who use alternative funding models.
