"There is still a lot of untapped potential in the bridging market and many brokers still haven’t engaged with the sector, either directly with lenders or through specialist distributors."
FR: Can you tell us a little about KSEYE?
The first thing to say is that KSEYE has probably been around for a lot longer than brokers might think. We began lending in 2012 and have completed more than £700m worth of loans since then. With a headcount approaching 40, we’re a lender that is only going to grow.
One thing that makes us stand out from many other lenders is the fact we provide upfront certainty at speed, with all of the terms we issue being underwritten or validated by our credit committee within hours. Those terms will not change unless something material changes with a case, so brokers and their clients can have confidence that when we say we will do something, we will do it.
We place building strong relationships and working in partnership with brokers at the centre of what we do. Those brokers who have used us over the years would say that it’s our service levels and pragmatic approach to lending that keeps them using us time and again.
FR: Why did you choose to join the lender?
I was looking for a new challenge and an opportunity to take a lender with potential to the next level, and as I learned more about KSEYE’s approach all of the right aspects seemed to be there.
There are some really interesting things about the KSEYE proposition that make it stand out from the crowd.
We have access to diverse funding lines, which means we have a broader appetite for risk than lenders with funding from just one or two sources, and this enables us to look at those cases that other lenders may not be able to.
We also have our own in-house legal team, that helps us to overcome any potential issues as early into the process as possible and enables us to speed the process up when it comes to more complex cases.
When I arrived, KSEYE had a reputation of being a broker's best kept secret, but we’re starting to change that and more brokers are learning what we really are - a safe pair of hands with more than 12 years of experience in helping brokers deliver the right solution to their clients.
FR: What are the benefits of having an in-house legal team?
This perhaps isn’t something that some brokers think too much about, but the legal part of the process is crucial to the success of any property lending, particularly bridging.
Our in-house legal team enables us to assess risks and make appropriate decisions quickly. If there is a complex issue, our team can review the details at the outset and identify ways to overcome any hurdles or, if it does need to be a no, we provide a quick no. That said, we can find a solution most of the time as we have a lot of experience and specialist expertise in this team.
As it is an in-house legal team, rather than external counsel, they make decisions with a thorough understanding of our lending policy and risk appetite. They can take a commercial view on every case, which ultimately helps us to work with brokers to help more borrowers.
FR: Do you think that bridging finance can continue the growth it has shown in recent years?
Absolutely. There is still a lot of untapped potential in the bridging market and many brokers still haven’t engaged with the sector, either directly with lenders or through specialist distributors. As the market continues to grow in size and reputation, more brokers will pay attention to how they can use bridging for their clients, providing the sector with even greater growth.
FR: What should brokers look for when they are choosing a bridging lender?
There is still a lot of uncertainty around, so brokers will benefit from choosing a lender that can provide them with confidence in decisions, processes and funding. This is the best way for them to be certain that their client achieves their desired outcome. At KESYE, we provide upfront terms that don’t change, we have an in-house legal team to help get deals over the line, and we get our funding from diverse sources – so we think we give brokers this confidence and certainty.
FR: What are your biggest tips for brokers in the next 12 months?
The biggest tip is to let us know the full details of a case, including any potential issues, from the outset. This helps us to make fast, informed decisions and makes the loan process smoother as it progresses.
Alongside this, I’d suggest that brokers make full use of your BDMs. They are there to help you put together the right solution for your clients, will update you as a case progresses, and they will always be at the end of the phone if you need them.
