Why reputation now counts for more than speed
Gavin Diamond, CEO, Inspired Lending
Being a fast bridging lender used to be enough to stand out. Brokers remembered the businesses that made decisions promptly and completed cases while everyone else was still waiting for paperwork, but today those qualities are expected from any established lender.
Fast decisions, responsive service and experienced underwriters are still important, for sure. The difference is that when most lenders would describe themselves in exactly the same way, brokers naturally need something else to separate one from another.
That’ s why one finding in the Interpath and Bridging & Development Lenders Association( BDLA) UK Bridging Market Survey caught my attention. When brokers were asked what influences lender selection, reputation ranked ahead of both speed and price, which feels like a fairly natural progression for the market.
We’ ve probably been beating this drum for quite some time, so it was good to see the survey put some evidence behind what many of us have been seeing first-hand.
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