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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.

Crystal Specialist Finance excels at industry's leading awards night

Tuesday 21 Mar 2017

Crystal Specialist Finance (CSF) has excelled at the professional finance industry’s leading annual awards night, collecting two honours at the Business Moneyfacts Awards 2017.

The Tamworth-based company was named Winner of the highly-competitive Bridging Finance Introducer of the Year category, and was Highly Commended in the Commercial Finance Specialist Distributor of the Year classification.

The awards are presented to companies and brokers who have consistently offered the most competitive products, the best levels of service and shown the greatest innovation in the business and commercial finance world over the last 12 months.

Hosted by stand-up comedian Romesh Ranganathan at the prestigious Lancaster London Hotel, over 600 industry professionals from leading financial institutions and trade bodies attended the event.

Jo Breeden, CSF Managing Director, said: “Given the longstanding nature of the event, the calibre of the judges and the competition, the people in the room and the kudos that accompanies the Business Moneyfacts Awards, this has to go down as one of our greatest nights in our company history.

“Bridging finance is one of the fastest growing financial sectors of the market, so to be recognised as one of its leading exponents can only bring greater recognition of our expertise and more business through the door. The task now is to stay ahead of the competition and aim even higher in 2018.”

CSF smashed all company records in 2016, with issued terms up 81%, completed business by 35% and enquiries by 54% against 2015. The company issued annual terms totalling £1,946m against £1,074m in the corresponding period.