AOBP Forum: Putting lenders on the spot

Encouraging dialogue between all professionals within the short term sector, next month’s Association of Bridging Professionals (AOBP) member event will provide an opportunity for broker guests to question a panel of the industry’s most high profile lenders.

The AOBP Forum, due to be held on 18th April, will bring the industry together to discuss some of the most important issues affecting the sector today.

Broker Alp Ceylan, Managing Director of Strategy Finance, explained the main thing he wants to get out of the event: “I’d like to know more about buy-to-let lending, especially two to three-year term products.”

Alp told B&C that he is often approached by clients who have missed one mortgage payment in the past so have been rejected by mainstream lenders.

“They are turning to alternative finance as a way to repair their current credit status with a short to medium term buy-to-let loan from an alternative lender so they can return to the high street for subsequent loans,” he added.

James Anderson, of newly-established brokerage Intelligent Bridging, said he was hoping to understand where lenders thought the next developments in the short term industry are likely to be.

He commented: “Product innovations over the next six to 12 months are of specific interest and what areas have been identified as the most important in the year ahead.

“As bridging is a niche area showing fantastic growth I’d be interested to know if the panel thinks the mainstream lenders are likely to get involved in the near future.”

Another broker wanting know more about the panel’s observations for the market in 2013/14 is Curtis Goring, Manging Director of The Aftersales Network Limited.

He observed:“Recently there have been numerous new entrants and low-cost products being launched in the short term loan/bridging market” and explained that it is important for him to keep his finger on the pulse and to be able to adapt quickly and efficiently.

Curtis intends to ask the panel: “Does the panel see this as a continuing trend with pricing being driven downwards?”

We also heard from Russell Martin, Managing Director at Finance for Business, who added: “I am very much looking forward to attending the forum. It is events such as this that benefit the broker community greatly. I am aware that the AOBP has secured a powerful panel of industry-leading lenders for the advantage of the attending members.”

Andrew Hosford, Director of Voltaire Financial had other uses for the event in mind, however: “It’s good to catch up with BDMs you have not spoken to in a while, to see what new products they have and talk about who has jumped from one business to another - and who has gone bust.”

The six panel members will include:

? Alan Cleary – Managing Director of Precise Mortgages
? Jonathan Samuels – CEO of Dragonfly Property Finance
? Andrew Bloom – Director at Masthaven Bridging Finance
? Marc Goldberg – Director at Lancashire Mortgage Corporation
? Keith Aldridge – Principal of Capital Bridging Finance Ltd
? Laurence Goodman – Managing Director of Bridgebank Capital

With such a diverse panel the event is set to host controversial discussions, providing a rare opportunity for lenders and brokers to share their respective viewpoints and those of the lender community at large.