Why experience matters now more than ever

Article provided by Jonathan Sealey, CEO at Hope Capital for use in FIBA.

Depending on someone’s individual circumstances and requirements, there are plenty of financial lending options available. However, as markets have shifted and consumer demands have changed, one form of lending which has become more popular in recent years are bridging loans.   

A bridging loan is a type of short-term finance, which enables a borrower to access funds extremely quickly. Bridging loans have many advantages, including the flexibility they provide, the fact decisions can be made extremely quickly for fast turnarounds and solutions can be tailored to the borrower’s specific needs / requirements.   

As the appetite for bridging loans have increased significantly over the last few years, there have been many more bridging lenders entering the marketplace. However, the specialist lending industry remains a specialised area, meaning the need to find an experienced bridging lender is paramount for both broker and borrower. 

Looking at the current economic climate, this could not be truer. With uncertainty clouding much of the market at present, lenders who have been in the game for a long time and have knowledge of the sector, know how to navigate their way through any challenging situations. 

As a broker whose core business isn’t bridging finance, finding a good bridging lender who can deliver the funding their client is looking to achieve, within their specific timeframe, can at times appear tricky. Especially, as the industry is filled with a multitude of specialist short-term lenders providing a vast range of products, which can become overwhelming to anyone inexperienced to the industry. 

So, what separates an experienced lender from the rest: 


Transparency: if a lender is not transparent, this can be very damaging for all parties involved. At Hope Capital, we pride ourselves on absolute transparency at all times. For example, we do not charge any hidden fees; this means clients are not going to get caught out somewhere down the line with costs they were not aware of at the outset. 


Effective communication: Effective communication is essential. Providing clear and accurate communications to ensure all parties involved are on the same page and can prevent any potential issues arising is key.  


Product innovation: The market moves at a fast pace, leaving behind those who do not adapt to change. Lender’s have a responsibility to deliver innovative, flexible, tailored solutions which consider the needs of individual customers and caters for the requirements of different borrowers, their circumstances and their level of borrowing. 


As with most things, when it comes to bridging finance there’s more to it than immediately meets the eye. Traditionally a bridging loan was used to bridge the gap between a mortgage on one property while waiting for another to be completed. The trick for brokers is to understand just how versatile a bridging loan can be, how many different client needs it can fulfil and how beneficial it can be to look at multiple funding sources. However, the importance of finding a lender with experience is key.  


At Hope Capital, we have been delivering innovative bridging loan solutions for over a decade. We are renowned for delivering competitive rates and loans for all property types and purposes, with exceptional service, transparency and speed. 


To find out more about Hope Capital, call 0151 523 5998 or email: newdeals@hope-capital.co.uk. 

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