Bridging market still strong reports Mathon

Mathon, an asset-based lender in the commercial property sector has found that leads in the bridging market are as good if not better than those in 2007.

The findings from its latest survey indicate the UK bridging loan finance sector in 2008 has not been as badly affected as some reports suggest.

Some 88% of respondents stated that the quality of leads in the marketplace remain as good as, if not better than, in 2007

While 70% of respondents would prefer to do business in person or over the phone as opposed to online, marking the demise of the previous tick box culture.

All respondents thought service and delivery were the top two attributes they prioritise in a lender

Although the downturn in the market has been well documented the research suggests that potentially strong deals are still circulating and in need of finance.

The priority in the current market rests on the broker’s ability to package these deals in a way that meets lenders increasing stringent criteria.

The research suggests a warning to lenders who rely too much on online applications.

Brokers prefer a more traditional approach – citing service and delivery and one-to-one telephone relationships as the most important attributes in a lender.

Andrew Sobolewski, chief executive officer of Mathon, says: “The commercial bridging sector has had to adapt and diversify in order to continue being a much valued feature of the UK property finance market. Whilst the sector remains under-researched, we can see from the results that despite the economic downturn, the level of deal flow remains robust.

“Findings from our research help provide a much clearer picture of the current mood and shape of the marketplace. By reviewing this kind of analysis, we can maintain the provision of unparalleled customer service by understanding Mathon’s client requirements and market trends.”