Bridging proves 'established route to repeat business'

Bridging proves 'established route to repeat business'




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Short term lenders formed a strong presence at last week’s NACFB Meet the Patrons Day in Birmingham, with the pertinent message that brokers should no longer deem bridging “too complicated and too difficult” to get involved with. 

Bridging companies were at the event to give brokers a clear message about what goes and what doesn’t within the bridging industry during these turbulent times.

 

Keen to shake off the idea that bridging is only used as a source of emergency funds; lenders were instead encouraging intermediaries to see short term loans as a way of maximising opportunities when quick decisions and flexibility are vital.

 

Bridgebank Capital spoke of the skill involved in identifying when bridging finance should be used to benefit clients, adding that organising bridging deals for new and existing clients is a key way for brokers to show advanced problem solving skills and the ability to work to tight deadlines. It often proves an established route to repeat business as well.

 

Brokers were reminded that once short term funds are in place on a property, it provides them with an ideal opportunity to set up long term finance for their client – as bridging loans are often repaid through remortgaging. Therefore, brokers can receive commission for the bridging loan as well as for placing the remortgage, resulting in a “win-win” situation for all involved.

 

For more information on when bridging finance can help your clients, our new website

www.bridgedoctors.co.uk

is now up and running to provide fast, straight answers to all bridging enquiries.

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