Seeing new players enter any market is a sign of growth but companies need to maintain the responsive attitude that we have seen over the past few years to keep the market moving forward.
With the influx of bridging lenders, it could mean rapid saturation with too much information for brokers to consider when advising clients on the best products for their needs.
There are new sourcing systems that collate product information which could help brokers narrow their search for the right products, but with complex cases, these search engines cannot take important factors into account.
With many firms offering the same products, this overload of information can be confusing to brokers. For the market to expand, common sense needs to return.
Lenders should operate in different sub-sectors and identify an area of strength, rather than all competing for the same business and trying to be comprehensive for all clients as this will sacrifice profit and affect service.
The market will only grow if intermediaries have a better understanding of their role in its development.
Better understanding of the niches different lenders operate in, such as LTV, loan size and even the geographical location of where they will lend, will ensure there is room for growth and guarantee longevity in the short-term market.