• Broker
    The information contained in this area of our website is for FCA regulated brokers only and not intended for consumer usage.
  • Consumer

ARE YOU MISSING NEW BUSINESS OPPORTUNTIES?

If you have self-employed clients then the answer is likely to be yes...

Brightstar undertook a study of a diverse group of just under 350 intermediaries, including different types of broker firms, IFAs, Directly Authorised brokers and Appointed Representatives.

 

The research revealed that over half of brokers don’t asked their self-employed clients about their commercial finance needs.  44% of brokers did take the opportunity to talk to their self-employed clients about borrowing requirements for their business, while the majority (56%) admitted that they did not mention commercial finance.

 

This research shows that most brokers have an untapped opportunity to forge stronger relationships with their clients and grow their business.

 

Every broker has some clients who are self-employed and for every homebuyer or remortgagor who runs their own business there is potentially an unmet demand for commercial finance and the opportunity to help.

 

Even if you don’t have experience of commercial lending, working with a specialist distributor, either by referring a case or working together, can help you to access the expertise and products that you need to provide your client with an additional service and diversify your offering. And, by helping your clients secure commercial finance, you could be helping their business to grow and their personal finances to become stronger, which could in turn increase their appetite for mortgage borrowing in the future.

 

The reality is that your clients probably have multiple funding requirements and, while you may not be an expert in all of those, applying this principle to other areas of lending and partnering with a specialist distributor with multiple areas of expertise can help you to provide your clients with a more holistic service, resulting in improved client retention and word of mouth referrals. So, there are plenty of reasons for brokers to strike up a conversation about commercial finance when discussing mortgage requirements for their self-employed clients.

 

IF YOU’RE NOT TALKING TO YOUR S/E CLIENTS ABOUT THEIR BUSINESS FINANCE NEEDS CLICK HERE TO LET US SHOW YOU THE WAY TO A NEW INCOME STREAM

 

ALREADY WRITING COMMERCIAL FINANCE BUSINESS, BUT NOT WORKING WITH BRIGHTSTAR? CLICK HERE TO FIND OUT WHY YOU SHOULD

 

Methodology

Results were taken from research amongst just under 350 intermediaries, using the following channels to ensure a good sample of brokers and IFAs, covering networks and DAs.

  • Brokers have been polled during webinars
  • A broker poll has been posted on Twitter
  • There has been a poll running on Brightstar’s EasySource platform
  • Emails have been send to several broker databases, including readers of Financial Reporter

The median of the polls was used to deliver the results of the research.

 

FOR INTERMEDIARIES ONLY AND NOT INTENDED FOR THE GENERAL PUBLIC