AOBP roadshow survey results

AOBP roadshow survey results




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The bridging finance sector’s intermediary trade body recently went on the road with a series of focus-group-style sessions aimed at areas outside of London, which resulted in an interesting cross-section of views from attendees.

From the 17th to 21st of September, the Association of Bridging Professionals (AOBP) covered Newcastle, Manchester, Birmingham, Bristol and Southampton in a bid to extend its reach to members and non-members in need of bridging finance education.

Speaking to attendees, Affiliate Lenders offered insight into certain key elements which are particular to short term finance: how to present the ‘perfect’ application; the more unusual case studies; securing development finance; classification of bridging cases; security types; and taking a lender’s view on things.

During the week, those who attended the sessions were asked to complete a short survey to demonstrate what the broker community want from lenders and the short term market as a whole.

Highlights of the survey results included the following:

•    24 per cent of brokers consider the cost of bridging finance to be the main obstacle when placing deals;
•    Also relating to challenges faced during application, 20 per cent of brokers cited both a dearth of choice when it came to lenders and their own lack of adequate bridging knowledge;
•    Almost half of those who responded said that they felt a lack of lending outside of London was a real issue;
•    32 per cent of attendees stated that a more open-minded approach to clients with an adverse credit history is needed;
•    On their product ‘wish lists’, a 21 per cent majority of brokers would like to see higher LTVs enter the market.

Testament to the relevance of education and increasing awareness amongst intermediaries when it comes to bridging, 40 per cent of attendees felt that they could triple the short term business they currently write as a result of the Roadshow.

1 Comments

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    Chris Wilson

    High LTV's are not a problem for us as long as the exit is well thought through and robust. We have just completed a second charge re bridge way outside the M25 at almost 80% 180 day LTV.

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