Evolution of Products

It's out! Well it's been out for a while now but I haven't had the chance to get one yet, the latest model of a certain mobile phone, by a company....

It’s out! Well it’s been out for a while now but I haven’t had the chance to get one yet, the latest model of a certain mobile phone, by a company that has a big reputation for new and innovative products and a brand that people desire to be part of.

That got me thinking back about my first love, in the mobile sense! It was Nokia brick – you needed two hands to hold it and a haversack to carry the battery in! But it’s interesting that in the boom time of the 80s phones were big. Then, as mobile phones went through rapid product development they got smaller. At their smallest I could hardly press the buttons with my big sausage-like fingers. Interestingly, as this happened the economy ran in to a downturn, and it was almost as if the size of the phones mirrored the amount of lending done by the banks. Fast forward today, where we are seeing some green shoots of recovery and more liquidity in the market, the size of phones is starting to increase again. Pardon the expression, but 5” is quite normal, and if you want bigger you can have a 7” phablet or a 10” tablet!

It’s always impressed me how the companies constantly update their products to meet the needs of its consumers and changes within the market. In the specialist lending sector, with an increasing number of competitors and a rapidly changing economy it’s important to stay ahead of the game.
For almost 40 years, Blemain Group of lenders has made innovative changes to products and services and constantly reviewed them to make sure they are right for the market and for our brokers at any given time, whilst also looking to the future and predicting any variation in the market that we can make the most of, such as the present high demand for bridging finance and buy to let.

Lancashire Mortgage Corporation has recently improved its products to offer our best ever range of bridging finance for clients that need for fast, flexible bridging with first class service in response to changes such as the current rental boom. The new products include rates from 0.75 per cent, LTVs up to 75 per cent and no exit fees. These modifications have allowed Blemain Group of companies to more than double the level of buy-to-let lending.

It’s also true to say that because Blemain Group has such a strong relationship working closely with our brokers; this has allowed us to identify the key requirements of clients in order for the products to adapt in the right way at the right time. And, unlike traditional lenders we are able to view applications on their own individual merits and working with Brokers we are able to assist a number of clients grow their portfolios and investment opportunities.

The adaptation of products to suit the market is also a result of recently securing additional funding of £100 million, with this we are going to be growing and adapting our sales division. The internal Broker Sales team has expanded by 40 per cent, with plans to further expand over several months as the Group grows and strengthens its network of brokers across the UK.

So to celebrate these changes I feel I have no choice but to follow suit and adapt myself by getting a brand new phablet, after all, size does matter in this instance!

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