Problem solving and making the deal work: delivering bridging deals with our BDM Lauren Bridgman
See all of our bridging, development and Buy-to-Let rates and offers here.
I have worked in the mortgage/lending industry for 10 years but specifically the short term/bridging industry for 6 years. I have been in both the regulated mortgage market and the unregulated short term/development market.
I have previously been an underwriter and a case manager, my role at LendInvest was my first role within a sales team.
I’ve always been interested in property, even as a child I loved sitting down and watching Changing Rooms with my parents – I now realise property development is nothing like Changing Rooms!
While at university I got a part-time job working in an estate agency in Manchester. When I left university, I had no idea what I wanted to do, I took a temp role at The Cambridge Building Society and pretty much pleaded with them to put me in their mortgage team as opposed to the savings department.
My first couple of weeks I was doing data entry and didn’t understand simple mortgage terminology such as ‘LTV’ but I soon got the opportunity to go permanent and jumped at the chance. My first permanent role was reviewing decisions in principles and mortgage applications.
After a few years I decided that I wanted to try working in London and to my confusion the only roles I could find were in the bridging and development industry – I had briefly heard about bridging previously so decided to give it a go – I’ve not looked back!
Read more: Case studies: The 17 small bridging deals we completed in 1 week
Being a ‘go to’ person for clients
I joined LendInvest in 2017 and now work on the sales desk bridging team. A large part of my role is to establish and maintain good working relationships with brokers and clients, as a BDM you often become the ‘go to’ person when things aren’t going so smoothly and when potential issues arise, so you also spend a lot of time problem solving and coming up with new ideas to help make the deal work.
This feeling of having helped people is what I really enjoy about the role, especially when another lender has let them down last minute. It’s great when a client or broker comes back to you for repeat business.
Another thing I really enjoy is the great sales desk team!
We are all really good friends and all on the same page. We are in constant communication with each other so if there is a deal we are unsure on, rather than turning it down we like to bounce ideas off each other to see if we can find a way to make it work.
Tackling challenges
I am amazed how well everyone in the business has adapted to working from home, it’s been a rollercoaster but I have really begun to enjoy it.
During lockdown I have been experimenting with cooking and trying new dishes although the novelty has now worn off and I’m back to doing the same thing day in day out – I cannot wait to get back to all the restaurants and start eating out.
I bought a property a few years ago and the final thing that needed to be done was the garden. It’s safe to say i’m not a gardener and have no idea what i’m doing but i’m determined not to give up on it!
I have been able to work the whole time during the pandemic and although it was tough at times – a quiet period at the start when no one knew what was going on and then a manic period as valuers were able to go back out again, I am super proud to have worked for such a great lender who has continued to operate and maintain its standards where many lenders pulled out the market or dramatically changed their offering.
The current lending market
I have seen a record number of auction purchases during the last year and I think investors will continue to thrive and get through this tough period. Unfortunately I think first-time buyers will struggle as the stamp relief has potentially pushed property prices up and lenders are looking for a higher deposit. There also doesn’t seem to be a lot on the market at present in some areas.
See all of our bridging, development and Buy-to-Let rates and offers here.
You can connect with Lauren on LinkedIn or call her for your next deal on 020 3846 6851.