Are brokers increasingly considering lender reliability before placing new business?
By Martin GreenlandSix out of 10 brokers are increasingly considering the reliability of lenders when placing new business on behalf of their clients, according to a recent survey
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The broker sentiment poll carried out by United Trust Bank (UTB) asked brokers working in the property finance and asset finance sectors if the stability and reliability of lenders was an issue when placing new business.
Nearly two-thirds of the 146 respondents (60%) claimed that it was a factor, 36% said it wasn’t, with the remaining 4% undecided.
Harley Kagan, group managing director at United Trust Bank (pictured above), said: “In uncertain times it’s natural that brokers and intermediaries want complete confidence that the lenders they recommend to their clients are going to deliver the funds and the service they’ve promised.
“Many brokers know from past experience that in challenging markets some lenders may try to change their credit decisions whilst others have difficulty delivering a prompt service or releasing funds on schedule.
“It only takes one or two examples of a lender changing a deal for that to knock a broker’s confidence in the lender and the customer’s confidence in the broker.”
Keywords: Specialist finance, specialist lender, commercial finance, property finance, asset finance, commercial finance brokers, asset finance brokers, United Trust Bank, United Trust Bank broker survey, United Trust Bank broker poll, specialist finance provider, Harley Kagan