Whether it is providing access to products, lenders and specialist rates not available on the open market or placing difficult or unusual cases that fail to meet the tick-box approach of mainstream lenders, the role of the packager remains as important as ever.

This is especially true in the bridging finance sector where speed and market knowledge are integral for brokers with clients trying to quickly secure funding. 

Whether this is to fund a renovation project, buy a property at auction or prevent a chain break, the sense of urgency often attached to bridging loan applications means having access to a good reliable packager or specialist distributor is essential when sourcing the most suitable option for their client’s needs.

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Despite the growing popularity of the product over the last few years, bridging loans remain a key component of the specialist lending market, which is why tapping into the expertise and knowledge held by packagers and specialist distributors can make a significant difference for brokers requiring bridging finance solutions.  

Packagers have the insight and experience required to answer any questions that brokers may have regarding the bridging loan application process and can clearly outline what information is needed to secure a successful application with the lender.    

Given the speed and complexity that often surrounds many bridging loan applications, this can help to provide reassurance to those brokers unfamiliar with this area of the market. 

Many packagers and specialist distributors also have longstanding relationships with bridging lenders and access to a panel of specialist lenders which can help brokers get the right outcome for their client quickly and efficiently.

They are also privy to better rates, higher LTVs, and more flexible underwriting through their exclusive partnerships with lenders. This provides brokers with improved access to products and rates not often available on the open market. 

Similarly, because packagers have multiple daily interactions with a vast number of solicitors, valuers, and bridging lenders, they have superior insight into industry service levels and understand which lenders can deliver quickly and within a certain timeframe and which solicitor or valuer is best to use at any given time and for any given case. 

As price and service are not always mutually exclusive, there will be times when it may be worth placing those clients on a slightly higher rate with a lender who can process the mortgage in a swifter timeframe. 

Brokers who need some help or guidance navigating the bridging finance sector can refer their clients to a packager or specialist distributor such as Norton Broker Services, who can do the work on their behalf.

With 50 years’ worth of experience in the specialist lending market, Norton Broker Services has a wealth of knowledge of the bridging finance sector as well as close partnerships with, and access to, many specialist and high-street mortgage lenders. 

This makes us ideally positioned to help brokers access an area of the market they may be unfamiliar with by offering access to multiple lenders, underwriting facilities and cost-effective legal and survey services that suit the needs of their clients’ circumstances and enable them to focus on other aspects of their business.