Speed of service dominates broker survey findings

By Bridging Loan Directory 5th September 2019

Apex Bridging has been delighted with the 80% response rate it has had to its recent inaugural broker survey and 95% of those respondents confirmed Apex Bridging’s service levels were as good as any lender in the market.

Commenting on the findings Sonia Shortland, pictured, Managing Director at Apex Bridging said;

“It is always a risk that you are inviting responses you may not be comfortable with, but that is an accepted element of the exercise and in many ways it is what leads to adding to the value of your proposition and gives the brokers the confidence that you are taking their responses seriously.

Speed of service came out as brokers number one priority that lenders must focus on and at Apex Bridging, we believe we are improving all the time through our policy of collaboration, communication and education with all our Stakeholder partners.

One area that is a priority for us, is to remove the frustration we often experience because of the delays in the process caused by inexperienced solicitors acting on behalf of clients. The survey highlighted this being the principle reason for delays in completion. This is an area that brokers need to become more influential in when advising clients.

This has been a theme for too long now and along with many other lenders Apex Bridging are establishing a panel of experienced solicitors that over time introducing brokers will use as recommendations so their client’s do not experience the delays that could lead to a failed transaction.

We will be contacting all respondents to address their concerns directly and with them, continue to improve our offering for everybody’s benefit.”

82% of respondents confirmed speed of the of the client’s solicitors was the principle reason for delays in the process.

A broker commented during his response to the survey;

“To be honest Apex Bridging tick all the boxes, in terms of speed, 2% proc fees and good proactive communication. We do have a couple of other lenders who compare favourably with Apex Bridging, but they are few and far between.”