Commercial FP Show

FP Show 2019: Specialist 'skill set' could be lacking in commercial mortgage space

There could be a "lack of skill set" in the current commercial mortgage sector, according to Lucy Barrett, founder of Vantage Finance (pictured above, second left).

In the commercial property panel discussion at the Finance Professional Show at Olympia London yesterday (6th November), topics up for debate included the state of commercial real estate, challengers banks in the sector and current market conditions.

In addition to Lucy, the panel included Caroline Luxmore, head of commercial mortgages at Aldermore (centre); Andy Bishop, national director of business development for SME and mid-corporate banking at Lloyds Banking Group (second right); Danny Robinson, director of commercial at Grey Matters Specialist Lending (left); and Simon Thompson, senior reporter at Bridging & Commercial Magazine (right).

Lucy stated that there was “definitely room for improvement” with regard to the current availability of products in the commercial mortgage sector.

“…It's more of a specialist space than the residential market, so I think there could be a lack of skill set.

“So even for the challenger banks which offer commercial finance, I wouldn't exactly say that they're experts in commercial.

“They have a small niche part of their team that do it, but when you lift the bonnet, it's perhaps not as diverse as you would expect it to be.”

She added that there were so many nuances that made it quite hard from start to finish for the customer journey.

When asked whether there were enough brokers that possessed sufficient skills, Andy stated that there was an “increasing capability among the broker community as the market has developed and become more regulated”.

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