Home > Uncategorized > “Devaluing the debt” a lender speaks

“Devaluing the debt” a lender speaks

Yesterday a very good business contact of mine passed on a comment made by a single invoice discounter about my method of brokering. Apparently I “devalue the debt” . How do I do this? I do this by talking to a wide variety of lenders

Clearly a heinous crime.

But what exactly was he saying and what does his comment tell us about some prevailing attitudes in the market?

What he is stating is that I do not give any lender the freedom to simply go and quote whatever they wish and frankly stitch up the borrower. Unfortunately my experience talking to some other brokers and posing as a potential borrower myself has proved that this is too frequently the case

I take the attitude that if the borrower has given me their trust to find the best possible deal then that is what I will do. If this lender has a difficulty with that approach then I will be using them with increased caution. To put it politely

Is the issue of trust  particularly difficult to grasp? For too many in this sector I believe and that is frankly a disgrace

 

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Categories: Uncategorized
  1. January 6, 2016 at 10:52 am

    I fail to see how placing a Client in a facility that works best for them can be construed as ‘devaluing the debt’. To my mind, the best Clients to have are those who understand exactly what facility they have, why they have it, and what the costs are. I would much rather have one happy Client than ten unhappy ones!

    Good Introducers/brokers gain repeat business by looking after their Clients’ interest. This is a good thing.

  2. January 6, 2016 at 10:56 am

    Totally agree Andrew. It was a poor comment and one that was always going to get back to me. They were effectively complaining that I drive the price down. Price is far from everything of course but if that is their focus then …….

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