The Intermediary – February 2025 - Flipbook - Page 19
MEET THE BDM
We work in
partnership with brokers,
keeping a constant flow
of communication”
We thrive on collaboration and
therefore ensure we work very
closely with our underwriters to
apply a common-sense approach to
our lending, meaning we’re the ideal
provider for any clients with a tricker
situation at hand.
Being a smaller, closer-knit lender
gives us many advantages, including
having a more direct line of authority
to run exceptional cases through
which enables us to be proactive in
referral decisions. As a BDM, having
the opportunity to speak directly to
our senior leadership team and CEO
on a regular basis allows for great
conversations to take place that feed
live information and data from the
boots on the ground right to the top,
and contribute to innovations that
hit right where the market needs
them to.
This ensures we stay relevant and
continue to deliver products and
policy in the more under-served
areas of the market, where we know
we can make a real difference.
What are the challenges
facing BDMs right now?
An ever-changing mortgage
landscape is a regular battle for
brokers and BDMs, and these past
12 months have been turbulent to
say the least. However, as ever, the
market has remained resilient, with
lenders, intermediaries and their
clients adapting at each turn.
Currently, the main challenges
being faced are the upcoming tax
changes and implications from
March or April, particularly the
Stamp Duty deadline, which is
seeing increased pressures across
the board, with everyone affected
trying their hardest to get through
to completion before increased rates
come into play. Naturally, the closer
we get to 31st March, the tougher
this situation will get, and workloads
will continue to mount for all parties
involved. This means it is vital we are
transparent with brokers and their
clients on turnaround times, and
where necessary, that we prepare
and manage expectations should
their mortgage not complete before
the deadline.
What are the
opportunities for BDMs?
When it comes to being a BDM, the
opportunities are endless. The best
part of what we do is relationship
building and this opens up more
doors than you can imagine. Whether
it’s daily collaboration or touching
base here and there, contacts are
everything. The more of them you
can develop, the more success you’ll
find for yourself, your organisation
and the brokers you serve. We play
a pivotal role in cultivating the
policy and products we bring to the
market, and this level of influence
and responsibility to deliver for the
customer is not to be overlooked.
How do you work with
brokers to ensure the best
outcomes for borrowers?
We work in partnership with
brokers, keeping a constant flow
of communication which feeds live
updates back and forth, meaning
we deliver our current proposition
while listening to what trends
intermediaries are noticing in the
market, so we can utilise this to finetune and adapt our offering.
The key is that we exchange
information and remain openminded to the changing needs of
borrowers and how we can provide
better outcomes for them.
Where merit is evident, we can
apply flexibility through our manual
underwriting approach and create
tailored solutions for individuals who
otherwise may not have qualified
for a mortgage elsewhere, and these
kinds of cases best demonstrate
the importance of a strong working
relationship between BDM and
broker, because understanding
really is everything when it comes to
complex lending.
What advice would you
give potential borrowers
in the current climate?
I always remind borrowers that the
advice of a broker is invaluable. With
so many lenders in the market today
offering a vast range of products –
some exclusive to intermediaries
– sourcing your own mortgage at
the best applicable rate is almost
impossible without a helping hand.
The property market is a whirlwind
at the best of times, so be sure to
seek out a trusted individual who
you can rely on to guide you through
any hurdles that may arise.
The same goes for solicitors – so
much goes on behind the scenes
during the conveyancing process that
many don’t get to see, and having
a solid contact on this end to wade
through the sea of paperwork calmly
on your behalf will be a weight off
your shoulders and give you time
back to focus on the excitement
of it all. ●
Harpenden Building Society
Established 1953
Products
• Residential, including large loan, second
homes and impaired credit
• Self-build
• Buy-to-let
• Holiday let
Contact details
01582 463133
brokerteam@harpendenbs.co.uk
February 2025 | The Intermediary
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