Intermediaries want honest, straightforward lending criteria from lenders
Nearly half of mortgage brokers are asking lenders to present their lending criteria in a straightforward and uniform manner, according to a new report from Black & White Bridging.
The lender’s broker insights report found that 48% of intermediaries prefer lenders to display rates using a clear range, such as ‘from xx% to xx%’. Another 30% of respondents favour detailed, case-by-case criteria.
“In a fast-paced market where speed and certainty are everything, ambiguity is a serious obstacle,” said Damien Druce (pictured), chief operating officer at Black & White Bridging. “Brokers need to know exactly what’s on the table from the outset – not flattering headline rates or theoretical LTVs that fall apart when a real case lands on the desk.”
The report notes ongoing frustration among brokers who say that some lenders publish criteria that appear flexible but later reject or withdraw deals that should qualify. Brokers argue this practice erodes trust and complicates the process of securing finance for clients who expect timely and clear decisions.
“As a lender, we’ve always believed in removing the grey areas,” Druce said. “We’re open about what we can and can’t do – and that’s what brokers want. It enables them to make better decisions more quickly. That’s better for them, better for their clients, and better for lenders too.”
The bridging lender maintains that improving transparency could help change perceptions of the bridging sector, especially as more borrowers consider short-term finance in response to stricter mainstream lending standards.
“As bridging finance continues its journey to the mainstream, professionalism and openness need to be the norm,” Druce said. “Being upfront doesn’t mean being restrictive – it means being honest.
“And as our brokers have told us, they want the facts in black and white. It’s time more lenders delivered that.”
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