Bridging loan leads to sell

financeuk · 09-05-07

I'm looking for an organisation interested in buying bridging loan leads. I have a site generating around 4 good quality leads a day.

Please PM me if interested.

Michael_Anthony · 10-05-07

We could deliver 100/day of these if anyone's interested.

Darren M · 10-05-07

I didn't think there was such a loan now. When we asked for a bridging loan for our house move we were told to get a new interest only mortgage on the new property until we could sell our house.

teabags · 14-05-07

There are so many different options available on the market today other than Bridging loans for the prime applicant. Maybe if you called a few of them on a fact finding exercise, you would find that most of them are in fact looking for other products, this can be profitable. For the sub-prime who needs this service, they haven’t got a hope.

Teabags

theonlinebroker · 15-05-07

Hi financeuk - I have sent you a PM

Teabags is correct in that often people assume they are looking for bridging finance when in fact there are other products out there.

However bridging finance is still a popular product. We tend to find we deal with enquiries from two main areas;

"short term finance" - property developers, finance for auction purchases, deposits on buy-to-lets or overseas property

"credit repair finance" - quick access to short term funds to avoid repossessions, insolvency, bankruptcy etc. Short term funding in place to allow customers breathing space to sort their finances out with a more appropriate long term solution, but allowing them to do it without suffering the adverse effects the above will have on their credit rating.

We have a specialist bridging panel of over 60 lenders and can assist all status clients. Although sub prime customers will have a slightly lower LTV of around 70%.

I feel that there is also an opportunity for finance affiliates to maxmise revenue with their secured loan declines. A client should not be sold a secured loan if it is clear that they require finance for less than 12 months. Thus in this instance the broker / lender may decline / refuse the lead and the affiliate will not get paid, despite having incurred the expense of capturing the lead in the first place. In many cases we can contact that customer and find a more appropriate short term finance solution for them, enabling the affiliate to earn revenue from an otherwise declined / dead lead.

I would be more than happy to discuss any of the above in more detail and should it be of interest please drop me a PM.

Thanks,

Chris.