Many of you will know the impact Specialist Finance story, but those who don’t, here’s a quick recap:
- impact specialist finance (formerly AToM) was established in 1991
- We have since progressed to become one of the premier mortgage brokers, packagers and distributors in the market
- Our Managing Director is Dale Jannels and we are very much a family business with Vic Jannels setting up the business over 28 years ago
In 2019, we were ‘Highly Commended’ Best Specialist Broker in the What Mortgage Awards. These awards are voted directly by customers and demonstrates the high esteem our customers hold us in, especially as the winner was a very well known national broker (who does TV advertising)! In 2018, we were voted Mortgage Introducer Bridging Broker of the Year.
Our impact portal is a user friendly system providing brokers with more control of their clients’ applications. Our system offers a host of new features to help brokers save time and assist in managing cases throughout the application process. The system includes:
- Decision In Principles
- Live Sourcing
- Pre-Populated App Forms
- Document Uploads
- Real Time Updates
Bridging finance has always been an important product option for us to offer to our customers (both directly and via brokers). Therefore, we took the decision this year to contribute to the MT Finance quarterly Bridging Trends report, because it is our view that too many customers and brokers are still unaware of the benefits that bridging / short-term finance can provide. We also have two or three lenders onsite every day, including bridging lenders. Being onsite means we can agree standard and complex scenarios quickly and via a mandated underwriter.
We have many Buy to Let investor customers and we have seen a noticeable rise in the use of bridging to improve their existing stock or convert into HMOs. This interest is backed up by the higher open rate we see on any emails that are about bridging or short-term finance to property investors, which has surprised us and although the open rate is only an extra 5% on average, this still shows us the pent up demand available.
With regards to brokers and despite the above point showing that customers are keen to consider bridging as an option, we still see far too many brokers shy away from recommending or even referring clients when it is obvious that it is a product that should be considered.
Is this because of lack of knowledge or confidence of the options and lenders available or is it due to their network or member firm discouraging this type of business? In our view, it’s probably a bit of both and all of us, publishers, lenders, brokers, distributors and eventually regulators and trade bodies have a role to play in ensuring this is not always the case.
A vote for us is a vote for the ambition to grow the size of this market and provide more and better solutions for our end customers.