I’m writing in response to the issues raised in a letter from Ian Monks in the June 18 issue of Mortgage Strategy re-garding our link-up with Trigold.
First, I support Ian’s view that customers must be treated fairly and that loans shouldn’t be recommended without proper research being undertaken and the best advice given.
But in terms of InterBay Commercial’s link with Trigold, I must clarify that Trigold does not offer product sour- cing for commercial mortgages – it simply provides a tool for brokers to submit commercial applications once they have carried out their research.
We are the first self-cert commercial lender on the system, although I’m sure more will follow soon. After all, it is in Trigold’s interests to secure partnerships with alternative lenders.
As for Ian’s comment about the lev-el of knowledge intermediaries require to work with commercial mortgages, and I refer here to both brokers and packagers, I agree.
It’s true that while the majority of our business comes from intermedia- ries with commercial experience, a percentage comes from those with no prior knowledge of self-cert commercial mortgages.
We strive to provide the best education we can for intermediaries possessing varying levels of knowledge of com- mercial mortgages through an extensive support programme, which starts with training seminars and continues with ongoing coaching and support.
When they register with us, they are assigned a regional BDM who is on hand to help them build their business and run training, plus a dedicated loan manager based in our office who helps to manage every loan from application to completion, providing specialist ad-vice throughout the process.
We also run free building business seminars across the country, which have been designed to give advice to inexperienced intermediaries on commercial mortgages, teaching them how to target clients and build their business with new income streams from such loans.
We’re committed to building this market and we will continue to provide support and education for intermediaries, experienced and inexperienced.
We will also continue to move with the times and make applying for our loans as quick and easy as possible, and our recent launch with Trigold is part of this. It’s in everyone’s best interest to introduce these efficiencies.