Whilst much of the talk in the finance industry is about process automation and the apparent imminent benefits of artificial intelligence, here at Signature we still believe in the personal touch with our broker clients.

We understand that although we are an alternative lender, we’re still very much a business built on customer service. And part of my role as one of the firm’s Relationship Managers, is to help brokers better understand what products we offer and how they fit the needs of their clients.

One such workshop was recently delivered to Pinnacle Finance UK in Birmingham, designed to help Muhammed Ahmed and his team of financial consultants and mortgage advisors better understand what Signature has to offer.

When bridging loans hit the spot

One of the most important elements of the workshop is helping the advisors recognise when a bridging loan is the most appropriate solution to their clients’ needs. We discussed likely scenarios, like when a someone is purchasing property at an auction and requires a quick completion.

Another common situation is when developers buy a property with no useable kitchen or bathroom and the broker is unable to secure a regulated mortgage.

I was keen to explain that bridging finance should not be considered the finance of last resort, but now more a viable financial tool that reflects the needs of brokers and their clients.

The current market is changing and we are finding that bridging is increasingly becoming the clients first option; they appear to prefer to deal with humans who will take the clients full situation into consideration and make a decision based on experience, not a computer’s tick-box form.

It’s about people not processes

In our experience bridging loans are typically needed quickly and one aspect of the process that can delay the completion is not having the correct documentation ready right at the start – a point covered in detail with the team at Pinnacle.

That’s the beauty of developer’s using brokers to find them the best deal; the broker knows from personal experience that they will need the client’s photographic ID, proof of address and 3 months personal bank statements (or 3 months business bank statements if applying as a company).

Once we know who needs the loan, what they need for and how long they want it for, the decision comes down to our experience and desire to get deals done, not find reasons to turn them down – a lot of this is down to the personal service we pride ourselves on.

Following our presentation, we now know Pinnacle will complete their due diligence before they meet their client and request all relevant documentation be brought into the initial meeting.

With all sections of our forms completed and sent to us with all the necessary supporting documents on day one, will save time and ensure our typical fast turnaround on deals.

Now show and tell

The reason we get out and about meeting with brokers, is to ensure short-term property finance solutions from Signature, like bridging, are offered to all clients and not presented as a last resort option.

Our workshops equip brokers to have healthy conversations with their contacts and clients about the choices they have to achieve their desired outcome when it comes to purchasing, developing and refurbishing property to help increase the quantity and quality of UK housing.

We work closely with brokers across the UK and help them better understand the finance options available to them, supported by our unique brand of customer service. So if you would like a workshop to help you and your team get more from short-term property finance, give us a call.