By Adam Tyler, executive chairman at FIBA
One of the more practical tests as to the worthiness of any trade body is its ability to offer its members services - or access to services - that they would not ordinarily be granted if they applied on their own.
One of the most important promises that a broker can make to clients is that the search for suitable finance covers the widest range of lenders. At FIBA, I have made it a priority to offer a lender panel which will be the most extensive in the specialist property finance market. I am pleased to report that another five new lender partners have signed agreements to join our panel and negotiations are ongoing with many more.
Our primary focus is to build our membership base and we have had a lot of success with our regional UK-wide roadshows. We have taken an active role during September in the Commercial Finance Roadshows and Specialist Mortgage Show and look forward to the Connect Network Event in October, plus the Mortgage Business Expo and the Finance Professional Show later in the year.
Not only are these events full of information and a great opportunity to meet lenders and product providers, if you are enjoying your FIBA membership, don’t hesitate to bring colleagues and fellow brokers along so they can find out at firsthand how FIBA can not only represent them to regulators and the government, but also how the services we offer can provide a springboard in taking their businesses to the next level.
For those of you in or around London, we will have a stand at the Mortgage Business Expo in October and I shall be hosting the first seminar sessions, and then we are at the Finance Professional Show taking place early November. There are so many opportunities to interact with FIBA over the next few months and I would like you to become unofficial recruiters for us by introducing more firms to join us in our efforts to be the number one trade body looking out for the best interests of specialist finance brokers.
Coming back to the wider market, this week we jointly chaired the latest industry forum with the ASTL. Our first two forums this year proved to be very useful, particularly as the last one led to the establishment of our Professional Panel of trusted service providers designed specifically for members.
In this forum, among other matters, we debated the putting together of a guide for initial broker enquiries to help advisers provide all the relevant information that lenders need. As part of this discussion, we are looking at what lenders require from brokers upfront and whether a minimum standard should be developed along with a recognised format for presenting information.
Also on the agenda was the impact of Brexit on the bridging market and whether the capital’s current lull in property activity is at risk of spreading further afield?
On the 27th September we shall be at Gatwick for our next Regional Workshop which includes a session from Jamie Pritchard of Precise Mortgages on BTL regulation and our hugely successful Live Deal Room where lenders will discuss enquiries and new cases brought in by attendees.
Lastly, I hosted a table at the inaugural Women’s Recognition Awards in London. It was refreshing to take part in an event which put the spotlight on the achievements of women in the financial services market. I urge all product and service providers to get involved with this event as we all look to champion and support the advancement women in the industry.