27% of brokers report bridging enquiries rising

27% of brokers report bridging enquiries rising




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Following a national poll of intermediaries, asking their views on their commercial and bridging finance business, specialist finance brokerage, The Funding Operation (TFO), has revealed some surprising results.  

Out of the 594 brokers who took part in the survey, 47% stated that good service and the ease of dealing with the lender were their paramount requirements when choosing a bridging or commercial lender. 39% stated that having the lowest interest rate to offer their clients was of the most importance.

 

In terms of market activity, 47% of respondents claimed that they were dealing with fewer enquiries now than during the same period last year, although 27% reported that enquiries have risen.

 

For those who had seen business levels drop, 68% said that they had only dipped slightly by less than 10%, giving a strong indication that confidence is returning to the bridging and commercial sectors.

 

The results were split down the middle when it came to submitting deals directly or via a specialist broker, with 46% of introducers choosing to submit business via specialist brokers and 47% going direct to the lender.

 

Commercial and bridging finance lenders fared well in the poll with 61% of brokers saying that lenders always deal with them in a positive way, however 31% said lenders responded to their cases “half heartedly” and 8% stated that they were dealt with in a negative manner.

 

Managing Director of TFO, Rhiannon Gray-Minton, said: “On the whole, brokers feel that lenders are keen to help with their enquiries, which is very encouraging. However, a very large number are unhappy with the way in which they perceive lenders deal with them. Perhaps this is an indication why more and more brokers are turning to specialist brokers like TFO to assist them.”

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