View more on these topics

Packagers should not shun difficult cases: Payne


Many packagers deal across all specialist sectors and have a flat-fee approach, so you should not turn away difficult cases

If you have a client with complex borrowing needs, you may already have an idea of the best sort of product for them, even if you are not entirely sure. But if you focus only on that particular product type, you exclude the possibility that a different one may be more competitive.

Specialist lending is not black and white precisely because many clients’ circumstances do not fit into neat boxes. For example, brokers sometimes call us about a deal they expect to be a bridge but, after analysis of their client’s circumstances, we find them better suited to a second charge mortgage.

When that is the case, no problem. No client has a burning desire for a particular type of non-standard mortgage; they simply want a funding solution on the best terms.

Many packagers deal across all specialist sectors and have a flat-fee approach whatever the type of deal. It is gradually getting easier for brokers and packagers to look at options across various sectors because technology is starting to catch up, particularly sourcing systems. There is software that can source different product types side by side, so you can look at the remortgage versus the second charge deal, for example.

By definition, specialist lending does not fit the mainstream, is more difficult to place and requires a different approach. Those distributors with expertise across all specialist sectors are well placed to help your clients, particularly if they use technology that searches across the spectrum.

A mortgage is a mortgage, whatever its label: same fee, same technology and same approach.

We should deal with the clients who come to us, whether they need an adverse self-employed deal, a second charge loan for home improvements or a bridging deal to secure a purchase.

Nigel Payne is managing director of TFC Homeloans


Financing properties owned in trusts

Part of a series looking at various niche markets within the buy-to-let sector where choice of lender is more restricted than for normal borrowers. One such area involves loans secured on residential properties owned through trusts. Properties can be held in trust for many reasons. For example, if a property is left to minors in […]


Tories to resurrect Board of Trade to forge post-Brexit deals

The Conservatives would restart the Board of Trade to forge post-Brexit business deals if re-elected in the upcoming general election. The BBC reports that Prime Minister Theresa May wants to set up nine trade commissioners across the planet as part of the Board. The commissioners would help boost British exports and lure overseas investment to […]


Ad regulator says estate agent ‘misled’ customers on commission

The advertising regulator has told an estate agent to change its adverts over misleading claims about how much commission they would charge consumers. The Advertising Standards Authority said that the website of Portsmouth estate agents Pink and Cow told consumers they could sell their homes for 0.5 per cent commission. The website said Pink and […]

Could Proptech revolutionise construction?

By Rebecca Murphy, relationship manager, LendInvest  The construction sector offers enormous potential when considering the implication emerging technologies could have on both existing processes and final results. While the completion of an entirely 3D-printed office block may be ‘sexier’ news than a new smart toolbelt that tracks the wearer’s location on site, each area of development […]


News and expert analysis straight to your inbox

Sign up