“In specialist lending, depth is often far more valuable than breadth,” Becki added. “Take ModaMortgages’ proposition, for example. We’re focused on making it as simple as possible for brokers to place their buy to let cases with our streamlined 100% online application process and clear, accessible criteria. Our whole philosophy is about removing friction, reducing uncertainty and giving brokers confidence that their cases will be handled efficiently and consistently.”
Prioritise lenders that provide certainty
Brokers should prioritise lenders that are clear and decisive in their approach. A straightforward answer, even when it’s not the desired one, is more useful than a prolonged process that never lands. In a market with so much noise, lenders that communicate clearly and make their position understood help brokers work more efficiently and build greater trust with their clients.
“I’m a firm believer that a quick ‘no’ is better than a slow ‘yes’,” Becki said. “At the end of the day, if a lender consistently delivers on what they say they’ll do, brokers will remember that. Equally, if promises aren’t kept, brokers will quickly look elsewhere next time.”
Competition raises the bar
While increased competition creates challenges for lenders, it also drives the market forward and should be seen as a positive development for the sector. Innovation, improved technology, better propositions and more disciplined underwriting all stem from a competitive environment.
But as the market evolves, it’s important that the focus remains on doing things properly. Brokers will always gravitate toward lenders who know exactly who they are, communicate openly, specialise with purpose and consistently deliver on their promises.