It’s always hugely gratifying to get positive feedback from the customers we work with. Hearing that they like the speed and efficiency or that we’ve helped a broker or a borrower get a deal done on time makes the long hours and hard work well worth the while.
But we know that speed and flexibility aren’t the only factors on which a lending deal is done. In fact they very often take second and third place behind the rate a lender offers.
Rates matter, of course they do.
Our borrowers are professional men and women. Buying property is business to them, not a hobby. Yes, they will factor finance costs into the projects they sign up to, but that doesn’t mean they’re not discerning. They know when they are getting a good deal – and know when to walk away from one that doesn’t work for them.
Over 2016, we’ve focused on making changes to our suite of products and the way we categorise them to make sure we are offering market-leading rates, putting us in competition with some of the biggest and most established lenders in the specialist finance market.
That’s why we rolled out a tiered range of bridging financing products in the summer, ensuring that borrowers weren’t paying over the odds for the most straight-forward, least heavy-duty projects.
Rates sit at the heart of all future product development strategies too. Click here for an up-to-date guide of all our rates.
Passing on cost savings to borrowers
A fundamental tenet of our business strategy is diversification of funding, believing as we do that a healthy and proportionate mix of funding sources is critical to maintaining a stable lending environment for borrowers throughout the economic cycle. But it’s not just stability that this diversified funding base creates. Thanks to this variety of reliable funding bases, alongside our proven track record of lending well, we are able to source increasingly good value funding and pass on the cost saving to end borrowers.
When a broker knows that the price a lender offers is going to be one of the best, if not the best, in the market, it cuts out the delays and cross-comparisons. Instead, brokers and lenders can work together to ensure that their clients just get on and receive the most speedy, efficient service they expect.
Find out more about our rates here.
This article was written by Matt Tooth, LendInvest chief commercial officer