“A team of great underwriters can make a huge difference in a business, particularly in the specialist lending sector where speed is often of the essence. They really look at the detail of
every case and are able to construct a deal to get it over the line in a way that makes it work for all parties involved – fast.
There is no doubt that proactive communication is key, not only to brokers, valuers, solicitors and other parties outside of the business, but also internally, where sharing information and keeping everyone informed of the progress of a deal is vital.
When communicating our processes and procedures to brokers, it is essential we can do this in a way which is understandable and digestible. Therefore, by having the option where you can easily speak to the underwriting department, to cross check information and check the details provided are accurate, is extremely valuable. This is why at Hope Capital, we prioritise taking a collaborative effort, so we are all working together and pulling in the same direction.
There is nothing worse than a situation where a lender says that they can lend, only to decline the loan at the last-minute, leaving the broker and client high and dry. This is why it is essential the underwriting team are transparent and honest, while also having the ability to explain their rationale as to why a deal can or cannot go ahead.
In addition, underwriters need to have a pragmatic approach and be commercially minded. They need to be able to have a can-do attitude and look at ways to make deals work rather than be an audit taker who has a tick box approach. It’s also important to be a good decision maker, and let’s not forget… having a sense of humour always helps too!
Ultimately, the underwriting department is the backbone of any lending organisation and is absolutely key to the growth and success of the business.”
If you are interested in finding out more information about Hope Capital, speak to the team on 0151 523 5998 or email: email@example.com