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February 06, 2018
One of the great things about being a young and relatively small lender is that you are, by default, an agile lender.
If you see an opportunity, you can quickly take it - and that’s what we’ve just done with the announcement that we will be taking our ‘product-less’ lending model mainstream.
To date, and as many of you will already know, we've focused primarily on non-standard, complex and larger loans - the polar opposite of vanilla.
After all, product-less lending lends itself naturally to complex loans, as it provides a blank canvas on which to structure them. In other words, you’re not trying to hammer square pegs into round holes (or vice versa).
But over the past couple of months we’ve also discovered that third generation lending excels with everyday loans, too - bread and butter bridging, if you like.
To cut a long story short, towards the end of last year a couple of the brokers we regularly deal with asked us if we could finance some more vanilla deals for their clients.
Never one to say no, we agreed and got stuck in. The whole process immediately showed itself to be effortless — for the simple reason that we weren’t constrained by the parameters of product-based lending. Yep, that peg and hammer point again.
Now we’re certainly not turning our back on non-standard, complex loans, as they will remain a big part of our business. They’re our differentiator and play to our vast experience.
But we’re now open to all kind of deals, however simple they are - and we want brokers to know that.
There’s an element of nostalgia about all of this. The brokers I speak to about the #3rdgen lending model all say they love the fact they don’t have to shoehorn a client into a fixed loan category but can instead work with a lender from the bottom up. It harks back to the good ol' days of bridging.
Essentially, what we’ve done here is take the best bits of the highly bespoke first generation of bridging and blended it with the professionalism and finesse of the second generation.
The outcome, for us at least, is you have the best parts of both generations when structuring a deal. If you’d like to see for yourself, drop us a line any time.
Talk to us about progressing your project
0345 222 9009