Mortgage Brain, the market-leading technology provider to the mortgage industry, has partnered with Propp to support brokers with specialist finance referrals following a dramatic rise in demand for bridging and commercial loans.
Data from Propp, the UK’s first specialist property finance comparison site, reveals that since April 2022 queries for bridging products have increased by an incredible 156% with requests for commercial products rising by 140%.
In response, Mortgage Brain, in partnership with Propp, has created a streamlined process for brokers sourcing unregulated bridging or commercial loans. Additionally, brokers who refer to Propp via Mortgage Brain will benefit from a substantial procuration fee for every case completed .
- Generous broker procuration fee for each case that completes with Propp
- Exciting opportunity for brokers to diversify their business beyond regulated lending, paving the way for potentially lucrative new leads and long-term relationships
- Simplified process means that referrals are turned around within hours, saving brokers precious time and resources
- System accessed remotely, providing brokers with the flexibility to refer cases at a time that suits them and their clients
- Brokers’ clients benefit from the first-class advice of Propp’s specialist bridging and commercial finance experts – in safe hands
Nationally, bridging lending is growing in popularity, particularly with homebuyers who have experienced a breakdown in their property purchase chain following recent housing market turbulence. It has also become a tool widely used by landlords and investors who, being squeezed by tighter buy-to-let margins, are turning to auctions to pick up a bargain.
The commercial market is on the up after being hit first by the pandemic, and then again by rate increases and instability following the mini-budget. Finally, lenders are returning to the market with an appetite to lend, so it’s a great time for brokers to capitalise on pent up demand for commercial refinance.
With current demand on the increase, this could be an ideal time for brokers to explore new opportunities in unregulated lending.
Peter Williams, CEO of Propp
Pollyanna Puddephat, Head of Marketing, Mortgage Brain