Crystal News

The standard approach to the specialist

Friday 24 Mar 2017

For a standard residential deal, a mortgage broker is comfortable and has a process – fact find, mortgage, protection. What happens when it comes to a specialist finance case?

It should be the same.

Many brokers see a commercial or bridging finance transaction and are unsure of the process as it’s outside of their comfort zone. Our message is that it shouldn’t be any different: understand what the client is looking to do, source the finance and arrange suitable protection.

MORTGAGE

Sourcing systems have simplified the residential mortgage sourcing process. Experience and knowledge is of course invaluable, but sourcing a residential mortgage is relatively straightforward.

In the specialist finance world, the products are much more bespoke and the sourcing is not as straightforward, however this is where the skills of a good specialist distributor – such as Crystal Specialist Finance – can fill that gap.

PROTECTION

On a residential mortgage it’s almost second nature for the advisor to explore buildings and contents insurance, life insurance and income protection. Why should this be any different on a specialist finance case?

All properties require buildings insurance, so is therefore a must for any discussion. If the business is run by a sole trader then life and CIC are also essential to explore, and if the loan is for a company then there is a wealth of business protection products available, including Key Man, business life and relevant life.

Imagine if your client came back to you when you hadn’t discussed protection and they needed it?

SOLICITORS

A good solicitor experienced in specialist finance can make or break a transaction. Specialist finance needs a specialist approach as it normally is more complicated than standard conveyancing. Ensure that the solicitor the client instructs is adept at this type of transaction.

CONTROLLING THE TRANSACTION

The best relationships are based on achieving the outcome the client wants, with a smooth and straightforward journey. By ensuring you have explored all of these avenues with your client means you have done the very best you can do for your clients and means you can relax knowing you have used your professional skills to complete a job well done.

Crystal Specialist Finance can work with you on all of the above – finance, protection, insurance and solicitors – to ensure the deal proceeds smoothly, completes and to achieve the outcome your client wants. Speak to our specialists today on 01827 301 070 to see how we can work together and get more business completed.

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