Paul Elliot

Timsco Finance plans to put together tech proposition over coming months




Timsco Finance believes there is an opportunity in the specialist finance market to be more “digitally focused” and aims to put together its “tech proposition” over the next couple of months.

The commercial and short-term finance brokerage recently announced that it was in the process of becoming FCA regulated.

“I think that there's a [bit of a] traditional approach to commercial and short-term broking and I don't think that necessarily reflects where we are in the 21st century,” said Paul Elliott, managing director at Timsco Finance (pictured above), in an exclusive interview with Bridging & Commercial.

“We're seeing some real disruption in the residential market [from companies such as] Trussle and Habito…

“They're all going down the digital route with traditional lending.

“…I [currently] don't know whether everyone in the market is embracing the digital opportunities that we've got, which can be brought into the market to make the process feel a bit slicker.”

Timsco Finance is hoping to introduce a “commercial portal” in the future, which will enable clients to upload documentation and keep track of their portfolio.

“Commercial mortgages and bridging [should] have a different approach to direct-to-consumer,” added Paul.

“Something that's a little bit more digitally focused, which gives [more] control to the borrower, [more] transparency [and] allows us to get feedback on what's going on and [essentially] be more involved [in the process].

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