Refer to Propp, the specialist property finance experts

Yes, as soon as you have made your referral, your case will be tracked at every stage from offer, to signed and to completed. If the case isn’t able to progress for any reason, you will be notified with a detailed reasoning as to why.

Propp will automatically send you 30% of the procuration fee once the case has been completed.

The average procuration fee in bridging is 2%, while the average case size is £100k. This means you can expect to earn £500 on your average bridging loan referral.

Propp specialises in commercial mortgages, bridging finance, development finance, complex buy-to-let and secured loans. Their team is made up of specialists in the space who have exclusive access to products and excellent relationships with lenders.

Bridging finance is relatively quick, the industry average is just over 50 days, however due to the relationships Propp has with lenders, we regularly get funds to a client in under 7 days.

Commercial mortgages and development finance have much longer timescales, but the average loan is much higher which makes these cases particularly lucrative.

Specialist finance is an unregulated space which means any broker can technically offer advice on these products. However, an understanding of the market is essential to being able to offer the best advice for a client.

Given the more expensive nature of these products, the potential for financial detriment is high. If you don’t know the market, you should refer to Propp who can ensure your client gets the best advice and the best deal.

When you use a packager, you are still required to give advice regardless of whether you have sufficient knowledge to ensure your client gets the best deal, which is often not the case.

Many of the website leads we get are from clients looking to compare deals for a second opinion after being quoted a high fee and rate by a broker going through a packager.

Also, packagers will often add administration fees up to £2000, meaning your client will pay two admin fees.

Hardly the experience you want to give to your valued client.

Absolutely! We expect you will build a good relationship with the adviser who handles your client case throughout the various updates you will be receiving.

If then, after a good experience, you decide you would only like to deal with this adviser, that’s perfectly fine! You can pass referrals directly to them, and they will allocate the case to you as the referring broker, and also to Mortgage Brain.

However, in the instance, you wanted to hand a bridging loan to the commercial broker you have been dealing with, we would ensure the case was passed over to a specialist bridging adviser, but you can retain your relationship with the original adviser.