(Top left to bottom right: Nicholas Jones, national sales manager at Blemain Group; Daniel Churchill, director at Commercial 1; Laurence Goodman, managing director at Bridgebank Capital; Gareth Lewis, business development manager at Tiuta; Colin Sanders, chief executive officer at Omni Capital; Yousef Roze, direc- tor at First 4 Bridging; Paul Brett, business development director at Borro; Kevin Thomson, intermediary business director at Brilliant Solutions; Kit Thompson, director of operations at Bright Star Financial; Sameer Kanabar, consultant at Total Financial Solutions; Alan Cleary, managing director at Precise Mortgages
“I can’t do that deal,” and move on to the next one. It’s getting to those people through various events we all run to make them more aware that they don’t have to be the experts in it. Laurence Goodman: Most of the product information we get comes from the packagers, the master brokers and distributors who are using it as part of their training and support material to the brokers they’re batting for rather than the individual brokers one at a time. the guys doing the bridge every
now and again where it’s not a focus of their business are either missing a trick or letting it go because they can’t be bothered, or they don’t know where to filter it through packagers. Kit: trying to educate individual brokers one at a time is not possible for a bridging provider which is why there’s still a need for specialist distributor. Most of the brokers I know don’t want to
become bridging experts, they don’t want to become short-loan experts or commercial experts, they’re mortgage brokers. then there’s the whole issue
of treating customers Fairly. If you’re a broker you might have a relationship with a single bridging provider but the offerings have never been more diverse, rates have never been so competitive. If you deal with one or two bridgers how do you know what they’re offering is the most suitable for them? LG: It’s also fair to say that the broker to broker deal is the most likely to fall through unfortunately because the initiating broker who is directing a client, doesn’t get the full information and doesn’t provide all the information necessary for that to be packaged and processed properly to both the distributor and ultimately by the lender. We find the biggest falloff rate of
deals, even good quality deals, tends to be broker to broker. the married
relationship between distributors and brokers needs to improve and that’s where volume and conversion rates can be improved significantly by that particular link rather than the link between the master packager and the lender.
should the master broker should take over the client directly?
LG: Absolutely, every time. the only way that deals get done is by ultimately coming to us as a lender or going to a master packager drilling straight down to the applicant. Colin Sanders: I agree that makes sense, it’s just whether or not you’re ever going to get that relationship. LG: there’s absolutely no reason why the introducing broker should refuse, he’s still going to get paid. CS: In theory but it’s a precious relationship between the end customer and the broker. I agree that the end broker is
brIDgIng IntroDucer september 2011 23
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