When arranging bridging loans the speed of the turnaround is paramount for brokers, research from Dragonfly Property Finance has revealed.
The survey of 200 plus brokers found that the second priority is the strength of the relationship with the lender, while intermediaries also favour strong communication lines so they can keep in the loop with the progress of the application at all times.
Mark Posniak, head of sales & marketing, Dragonfly Property Finance, said: “While getting money to their clients quickly is critical for brokers, the need for lenders to offer a personalised and transparent service that keeps them in the loop throughout is also key.
“It came as no surprise that brokers consider ongoing client relationships and their own reputation to be more important than one-off commissions.
“Being able to add value for clients through quick turnaround times and low rates adds far more value to their businesses in the long-term.”
Fourth on the list for brokers is flexibility, specifically the ability of lenders to overcome obstacles that may arise during the application process, while the fifth most important attribute was the rate.