In the specialist lending world, it’s easy to see each lender as a standalone provider and finding a lender perfectly matched to your client’s circumstances can be painstaking. But there are ways to make it easier.
On most occasions, it’s a question of finding the right lender and from then onwards it’s a straightforward process. However, there can be times where thinking creatively can help to provide a better option for your clients.
We recently received an enquiry on the refinance of a complex £13m portfolio where the loan was outside of our appetite. With most lenders, the case would have been declined instantly and the broker left to start his search again. Our BDMs however, are used to thinking laterally with cases and helping the broker to find a solution, even if it doesn’t sit with us. As a result, we were able to work together with the broker and another lender to structure the loan in such a way that we could provide the senior element of the funding within our appetite, and the other lender provided the remaining amount, fulfilling the borrower’s full funding requirement.
This example really brought home how having a good relationship with a BDM (and a good BDM!) can mean the difference between helping your client and letting a case go. BDMs see every type of case imaginable and are often able to call upon a precedent to advise on how to build a case. Where they haven’t seen a similar case before, it’s an exciting challenge to find the right approach and achieve the ‘impossible’.
Your BDMs are there to help you when the going gets tough as well as with the straightforward cases. Their experience might be just what you need to help you place your next tricky case.