CFI: Bridging
Transparency and delivery key for 2012
Award winning Commercial Mortgages.
by
Martin Kearns, head of strategic policy, Tiuta
if you are anyway involved in the bridging and short-term lending sector then i will assume that you had a most interesting year in 2011. certainly as a bridging lender we can safely say that we have never seen a year like it. all in all, one might even suggest that 2011 has been something of a game-changer for the bridging loan sector. clearly, there is much to be positive about with demand for our lending increasing all the time and speaking from our own perspective a great deal of interest in our business, what we do, how we do it successfully and how we can work together with a variety of partners in order to grow and develop our service proposition and offering.
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www.aldermore.co.uk/intermediaries expertise. applied commercial mortgages
FOR INTERMEDIARY USE ONLY - Aldermore Bank PLC is authorised and regulated by the Financial Services Authority for deposit taking and regulated mortgages. Registered Office: 1st Floor, Block B, Western House, Lynch Wood, Peterborough PE2 6FZ. Registered in England no. 947662
44 mortgage introducer JANUARY 2012 ACM10-0112-200013
Ten a penny i am sure that the vast majority of lenders will be saying much the same thing. in this economic environment ‘successful sectors’ and the players that operate in them are looked upon covetously and this is perhaps why we have seen a greater influx of lenders into the bridging sector than during any other time in recent memory. at one stage it appeared that we had a new bridging lender announcing their entry into
the market almost every other week. We have pontificated loudly
about whether the bridging loan sector is at lender saturation point however it would appear not. even as we were putting up the christmas decorations, news of Shawbrook Bank’s intention to enter short-term lending was being made public; it is offering a product for semi- commercial
purposes
targeting the investment property market. one might say: “aren’t we all?” We wish all the newbies the
best of luck. competition is always a good thing and choice is absolutely crucial to any market. it is now up to brokers and introducers to sort the wheat from the chaff when it comes to their clients’ bridging needs.
All mouth and no trousers a better sorting system might be to focus on two areas which have generated much debate over the last 12 months. What about sorting those who are actively lending from those who just say they are? or sorting between those who are offering misleading headline rates from those who actually lend at the same rate they advertise at? certainly, there were plenty
of smoke and mirrors being deployed throughout the bridging sector over the last year. one hopes that 2012 brings with it a much greater onus on transparency and delivery.
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