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.
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“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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