Service is a crucial component of choosing the right option for your clients. Delivery times can vary wildly between lenders and this ultimately reflects on your service and reputation. The stakes are even higher when it comes to the specialist market. Often clients come to specialist lending having already tried one or two mainstream options and this can mean they are under intense pressure to secure a funding solution quickly if they have any chance of keeping their intended transaction on track.
The good news is that there are many lenders within the market that have invested heavily in people, processes and technology to ensure they are able to deliver service levels that are on par with, and sometimes better than, many of the mainstream players. The bad news is that there are also lenders that occasionally struggle with service and can take many weeks just to deliver back a disappointing, no.
An added complication is that service levels are rarely consistent. Even lenders that are ordinarily known for delivering good service can have periods where they are overrun or under-staffed. And often lenders that have struggled with service in the past are able to settle on a way of working that brings their service levels back in line with the market.
So, with so many lenders to choose from in the specialist mortgage market, how can you stay on top of all of the options and ensure that you are placing your cases with confidence that they will be processed quickly and effectively?
The good news is that you don’t have to. Specialist distributors make it their business to be experts in all aspects of the specialist market, including criteria, rates, and of course service. So, if you partner with a specialist distributor to place a case for one of your clients, not only will you be able to access their expertise when it comes to product selection, you can also rely on the specialist distributor to recommend a lender that won’t let you down on service.
The key then, is to understand which specialist distributor with whom to partner, and for this you only need to make comparison across one metric. Take a look at the recent customer reviews it has received, either on Trustpilot or another recognised provider, and see whether this reflects the type of service you would like to offer to your clients.
If you can see evidence from existing customers about the service they have received, you can start to place your specialist cases with confidence.