Late last week, Brightstar Group’s Specialist Lend Virtual Expo and a side panel of specialist finance brokers got together to discuss the current lending landscape. The annual event is held to enable brokers to share and access the insights needed to provide better service to their customers.
The day-long event was organised to offer the latest insights to help introducers develop and grow their specialist mortgage businesses.
Representatives of some of the most notable specialist lenders in the UK attended the event, including Together, Fleet Mortgages, United Trust Bank, and many more.
A perfect storm
Along with a panel discussion on ‘the state of the specialist lending nation’, the UK’s turbulent buy-to-let market was also discussed at length. Chief commercial officer at Fleet Mortgages, Steve Cox, said that the sector is currently in the midst of a “perfect storm” resulting from rising tenancy demand and low-interest rates.
Consequently, he stated that the importance of distributors and specialist lenders providing quality advice for the benefit of their clients is at an all-time high. He said this was particularly true for those who may have faced credit issues over the course of the past year as a result of the COVID-19 crisis.
“These customers are not easily placed on the high street; they absolutely need a mortgage broker and quality advice at the epicentre of their housing needs and wants for the foreseeable future,” he said.
His sentiments were shared by Vida Home Loans corporate sales manager, Chris Holcomb, who said that although the long-term outlook for the sector is good, the effects of COVID-19 are likely to be felt for some time to come.
“Specialist lenders have become vital in making sure these landlords have access to the support they need,” he commented, in relation to landlords who may have incurred credit score damage during the pandemic.
“With a new generation of borrowers with impaired access to credit, many landlords will need the support of a strong specialist lender that takes a flexible and human approach to lending, especially when dealing with complex circumstances.”
Another successful event
Celebrating the conclusion of another successful meet-up, Brightstar Group CEO Rob Jupp called the event a ‘ground-breaking moment’.
“It’s absolutely wonderful to be able to achieve another ground-breaking moment by hosting such a well-run, well-supported, and well-attended event,” he said.
“I’m extremely proud of Michelle Westley [head of marketing at Brightstar Group] and her fabulous marketing team.”
To which Ms Westley added, “We put a lot of work into creating The Specialist Lending Virtual Expo and developing a content programme that could make a tangible difference to broker businesses.”
“So, we are really delighted that so many brokers turned up on the day and that there was such great engagement with all the 16 exhibitor stands, the panel debate chaired by Rob Jupp, and the 11 keynote speakers.”
“Overall, just over 300 delegates attended the event, and we are already receiving really positive feedback.”