Propp’s recognition system evaluates finance providers on three core standards: speed, service, and flexibility, which is designed to help borrowers compare them using multiple metrics, rather than just by rate and cost.
Lenders that have been recognised this time around include West One, which earned a rosette for flexibility and customer service.
Other lenders to receive accolades for their performances in Q4 include Affirmative, which received a rosette for customer service, as well as MT Finance and Together, which maintained their accolades from previous quarters.
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Peter Williams, CEO at Propp (pictured above), said: “In the last quarter of 2022, much like the previous two, the market volatility has caused flexibility to drop, increased risk-aversion and higher levels of scrutiny over deals which ultimately slows everything down or kills borrowing completely.”
“As a result, every quarter since rates started rising we’ve had to strip several lenders of their accolades for flexibility.
“We do acknowledge that this is a symptom of the challenging few months the industry has experienced, but our Propp Score is designed for the benefit of the customer only, and now more than ever our customers need flexibility, excellent service and speed.”
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