Why certainty is more important than ever for brokers



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Fuel at the forecourt and food on the supermarket shelves have been somewhat less reliable recently, and it’s been hard for us to live with that level of uncertainty.

Businesses crave certainty too. It enables forward planning, investment, and recruitment — all of which are key to growth.

Stormy economic climates are difficult to navigate, but that’s the reality we find ourselves in today.

The good news is that, despite the past 18 months, the property market has spectacularly defied expectations, fuelled by Rishi Sunak’s tax break and the resilience of the lending sector in unexpected conditions.

We've hopefully seen the worst of the pandemic, but we know it’s been a turbulent 18 months. And, let’s be honest, significant challenges remain for brokers, lenders, property developers and investors.

Continuing ambiguity 

Despite steady economic growth in 2021, GDP is estimated to have slowed to 0.1% in July – with all sectors still approximately 2% below their pre-pandemic level.

Furlough and the Self-Employment Income Support Scheme have ended, although we’ve yet to see the wider impact of this on employment, household finances and the economy. 

Supply chain issues are causing delays in construction and development too, and it's difficult to predict what the next six months will bring. 

Brokers will need to look for lenders that are proactive about this and talk openly at the outset about the feasibility of a project’s timelines and the reliability of the contractors. 

They will also need to be asked what will happen on bridging loans where the work has been delayed. For example, will an extension be offered?

Cast-iron funding solutions

Brokers and property investors crave certainty, and that includes a guarantee of fast funds, not just a quick application-to-offer turnaround.

We get it, time is money on property developments, and a faster completion and guaranteed funding can make all the difference to a project or a time-sensitive purchase. 

That's why Roma has reinvented its processing to launch RomaFLOW, a fast new channel for straightforward cases. 

Speed, ease and confidence

We wanted to bring speed and certainty back, so our new streamlined processing channel has fewer stages, reduced documentation, and enhanced technology to help move cases smoothly to offer and completion.

When you submit a standard bridging case to us, it automatically goes into the RomaFLOW process, unless you’ve told us of any complex circumstances or challenges.

Cases are fully mandated on instruction of the solicitor. This means that when the solicitor is instructed, which could be 48 hours after submission, the case is ready to fund. This is guaranteed, providing no major problems are revealed during the legal process.

We wanted to give brokers and other stakeholders in the project certainty over the mortgage decision early in the process. It gives the investor peace of mind and enables them to start planning their project with confidence. 

While the wider economic picture remains uncertain, it’s more important than ever that you look for lenders that move quickly and go the extra mile for brokers and their customers.

No one can claim to know what’s going to happen to the economy in the next six months but, by choosing speed and certainty when looking for a short-term lender, you can minimise delays to the borrower’s project and boost the chances of a successful outcome.

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