You can tell we are getting to the defining period of the year because it won’t be long until the Expo season is upon us, Writes Tony Salentino, director of Complete FS.
When I say season, it was not a word I could use before now, because up to last year there was just the one national event.
But here we are in 2013, when only a couple of years before everyone was pretty sure there would be little lending industry left to exhibit, and we now have three to choose from.
What a turnaround. I like to think this is symptomatic of the gathering pace with which the whole industry is facing up to a revival.
A renewal of purpose and genuine recovery is in the air, but this time I think we need to make sure that we do everything we can to ensure it is not another boom and bust.
As we gear up and the numbers start going into the black, it is worth considering that with the new shape of the industry and the changes that have taken place since the credit crunch, there is an opportunity to not allow demand to undermine the quality of the supply chain.
As we all know, last time round, supply was so unlimited that there were too many compromises in the name of competition.
This time, we have a Bank of England governor, who seems determined to quell demand before it gets out of hand.
The new regulator will also be looking hard to ensure that lending criteria does not become loose enough to draw the ill informed and the vulnerable into borrowing what cannot be paid back.
More of the onus is going to fall on the lenders in this respect, but all of us need to ensure that we not complicit in helping those who should not be borrowing.
Next year sees the Financial Conduct Authority take over regulatory duties from the OFT in the secured loans market.
Many brokers have avoided the second charge market, because of what they recognise as not being under a real regulatory framework.
Everything changes in April when secured loans take their place as a fully paid up member of the regulated lending industry.
Now there will be no excuse for any broker not be open minded to the concept of what the secured loan can bring to the party when it comes to the best ways to help clients to raise capital.