As we continue with our Meet The Team series, this week we would like to introduce you to Amanda Floyd, Senior Lending Underwriter.
Amanda is an integral part of the bridging and development finance team and has a wealth of experience spanning across different areas, which helps her to make the important decisions she has to make on a daily basis.
How long have you been in the industry, and how long have you been at West One?
I’ve been in the industry for 20 years and with West One for seven years. I have worked in various roles starting as an administrator and moving through various mortgage advisor roles within different lending sectors, including 1st charges, 2nd charges and BTL.
Describe your role at West One.
I’m one of the senior lending underwriters, so I deal with all bridging applications right from £150K transactions (these sometimes can be the most challenging) up to more complex loans of over £1M+.
How has the bridging industry changed in the last five years?
When I first started in bridging, it was very much thought of as the last chance saloon in finance, rates were more expensive, and there was less competition.
Over the years, more lenders have come to the market, and rates have been reduced to create healthy competition.
People are realising the speed and flexibility that bridging offers can be a far more appealing solution.
Not only does it mean transactions complete quicker, but it also gives people longer to source a more permanent solution to a problem.
Bridging is now a more recognised financial proposal which is not only better understood by brokers but also by applicants themselves.
What will be the greatest challenge facing the bridging finance industry in the coming months?
I think bridging volumes are likely to increase over the coming months, high street lenders are tightening their belts, and people’s finances are trying to recover.
We had a record month in February, and business is showing no signs of slowing. The end of the furlough scheme will create problems for quite a few people, and we need to remain focused and continue to assess each loan on its merits.
Lending the money is the easy part; you need to make sure, especially now that getting it back is just as easy.
First thing you’ll do once we are out of lockdown?
Booking myself a holiday to Bora Bora.
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