5 effective ways you can help your clients’ loan applications complete promptly

Navigating the complexities of lending can be a daunting task, especially when time is of the essence. At Ortus, we understand the urgency that often accompanies loan applications and strive to make the process as smooth and efficient as possible. To assist you in guiding your clients through this journey, we’ve outlined some crucial insights to help avoid common pitfalls and ensure successful outcomes.

1. Provide comprehensive information

When dealing with complex transactions, conducting comprehensive due diligence is important for all parties to the loan.

We’ll need to assess all aspects of the deal we’re being asked to facilitate, including financials and legalities, and satisfy ourselves as to the potential risks.

A good starting point from a broker perspective is to ensure all the following are provided so we’re able to make a considered and informed decision:

• The true purpose of the finance.
• Your client’s financial situation, including income and expenditure details, and their credit status.
• A full analysis of the property on which the loan will be granted.
• The amount of loan your client requires.
• The viability of their ultimate exit strategy.

By providing all this information as early in the application process as possible, you’ll be able to maximise the chances of a successful loan arrangement.

2. Embrace creative solutions

It’s inevitable that complex financial deals will meet challenges during the underwriting and application process.  Encourage your borrowers to maintain a problem-solving mindset and be open to compromise.  Negotiating mutually acceptable terms is often key to closing complex deals successfully.

3. Foster effective communication

At Ortus, we make a conscious point of ensuring our communication with you is as streamlined and efficient as possible.

We aim to ensure everyone is informed and updated throughout the transaction. This also applies to third parties involved, such as solicitors, surveyors, and other specialists, who can provide valuable insights and expertise throughout the transaction.

Building relationships with this team will often be critical to ensuring the successful completion of a loan transaction. As a result, it’s important to be willing to work together to find solutions that will provide the best deal for your client.

4. Explore bespoke lending solutions

One size does not fit all when it comes to complex lending deals. No two applications will be the same, so in the great majority of cases, a bespoke arrangement will often work better for your client, and us, than any standard lending terms.

At Ortus, we have extensive experience in complex lending, and specialise in crafting customised loan structures that such lending often requires.

Collaborate with us to navigate the complexities and secure tailored solutions for your clients.

5. Timely submission of required documents

In point one, you read the list of information required at outset to consider and approve a loan application.

There are further requirements that need to be met, and documents provided, before a successful completion. These include:

• Confirmation of liability for full legal costs
• Suitable buildings insurance to be supplied, with correct usage and appropriate reinstatement value
• The relevant Energy Performance Certificate (EPC)
• An asbestos safety certificate, provided by the tenant or borrower, if the property was built before 2000
• A fire risk assessment, together with gas and electrical safety certification
• Correctly executed facility documentation.

In our experience, these are often a cause of delay, so advance awareness can really help move things along.

Get in touch

If you’d like to talk to us about a specific application, please get in touch with us.

We would be happy to discuss how we can help.

To find out more, speak to the Business Development Manager in your local office.