LOCAL KNOWLEDGE CRUCIAL TO DELIVERING FOR BROKERS ACROSS THE COUNTY
19.05.24
One particularly encouraging aspect to the market at the moment is the appetite to push on with investment projects around the country.
By Colin Sanders, CEO at Tuscan Capital
So much of a focus tends to be devoted towards London when it comes to our housing stock, yet the brokers and borrowers we speak with are keen to improve the standard of housing in other areas of the country.
While they may have put plans on hold last year, as interest rates rose and the economy stuttered, there is a real sense of renewed confidence currently, particularly for investors who are focused on the Midlands, the North West and the Home Counties.
Delivering for brokers
However, we know that brokers can sometimes be frustrated by their experiences with some lenders when it comes to handling cases in regional areas. While these lenders may be confident with cases around the South East, once you move beyond the confines of the capital they become less consistent, less able to provide the best service.
It’s something that we have focused on of late at Tuscan, investing in our team so we have ‘boots on the ground’ across the country, providing the personal touch for brokers and their clients.
For example, in the last few months we have brought in Rebecca Salt as regional sales director for the Midlands and Katie Wilsher-Garrett in the same role for the Home Counties, supplementing the existing regional directors for London and Manchester.
Brokers tell us how much they value having someone to speak to in person about cases in their area, and the importance of local knowledge. Different areas have their own quirks, their own idiosyncrasies, and we knew that building greater levels of local expertise would allow us to deliver an even higher level of service to brokers and clients in the regions.
In each case, our regional team members have been in the industry for some time and so already enjoy strong relationships with advisers, but they are also perfectly placed to help highlight what Tuscan offers to new brokers.
In addition, we have recruited Hannah Melhuish as our new marketing manager, allowing us to better highlight our proposition and offering, ensuring brokers are kept informed about what Tuscan Capital is doing and how we can support their clients.
Building relationships
Key to being an effective lender in the bridging sector is building strong relationships with brokers.
This is still a people industry, one where brokers will understandably favour working with lenders who they trust, who have delivered for them in the past and have a track record – essentially saying what they do and doing what they say.
There is a lot involved in building that relationship; it doesn’t happen overnight. Those regional figures need to take the time to get to know those individual broker firms, their clientele and what they are looking to achieve. It’s equally crucial to be a sounding board for brokers, being able to talk through cases and determine whether the lender will be able to support that specific client, as well as help applications along on those occasions when delays occur.
It’s much easier to effectively build those relationships if the lender has a physical presence in a region, and it’s the broker and their clients who ultimately benefit.
Backing investors across the country
It’s a positive time for property investors, with potential projects aplenty. Crucially, those opportunities are being pursued all over the country, not just being concentrated in areas around London and the South East, although we have significant deals in those regions too.
Short-term finance is a crucial tool for these investors, and with so much competition in the bridging sector, lenders have to do more than simply offer an eye-catching low rate. Brokers expect the best for their clients, which is why it’s so vital to deliver the highest service standards possible.
Tuscan has long been known for its high service standards, I firmly believe that strengthening our team on the ground as we have in recent months will put us in an even better position when it comes to supporting brokers and their investor clients with their plans.
Read the full article on Best Advice.
For more information or to get in touch with the team, please contact us:
Call Us: 020 7846 9030
Email info@tuscancapital.co.uk
View our Regional Offices:
London Office
Birmingham Office
Manchester Office