Propp introduces lender recognition feature

Propp has added a lender recognition system to its platform as part of its ambition to raise the bar across the specialist finance industry.

The new feature highlights the top lenders who have received an accolade for customer service, flexibility or speed — those selected will appear in the bridging comparison table’s search results decorated with a rosette for easier identification.

The finance providers who have excelled in terms of speed are determined based on the duration between initial contact and deal completion.

Meanwhile, the top lenders in the flexibility and customer service categories are chosen by Propp’s advisers and administrators based on their experience with how the lenders handled their cases.

The firms who receive accolades on the site will be reviewed by the Propp team every quarter.

Peter Williams, CEO at Propp (pictured above) said: “The focus when it comes to bridging is usually the rate — of course, that’s important, but specialist lenders need to deliver much more than that to position themselves above the rest.

“Lenders can have the best published rate on the market, but if they’re turning straightforward cases down at every turn or bumping the rate significantly, it completely diminishes confidence in their offering.

“Lenders who have a ‘can-do’ attitude and take a flexible approach to criteria are the ones who solve problems for our clients, and that’s where we find we’re adding the most value. 

“We're continuing to strive to make the bridging finance purchase process more transparent for property investors, and offering our experience to site users to weigh up the right lender for their circumstances takes this one step closer. 

“We hope that publicly recognising the lenders who drive the highest standards of service, flexibility and speed will encourage those who miss the mark to up their game and create better outcomes for borrowers.”

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