Multiple DIPs issued at 'best FIBA event yet'
FIBA’s latest live deal event in Gatwick saw multiple terms issued by lenders.
The event featured an address by Adam Tyler, executive chairman at FIBA, a look at the BTL market with Jamie Pritchard, head of sales at Precise Mortgages, and a live deal room.
The live deal room format saw the event’s lender sponsors Octopus Property, Roma Finance, Pivot, Precise Mortgages and Together discuss problematic deals with brokers and offer advice and solutions.
D’mitri Zaprzala, head of sales at Octopus Property, said he was able to meet with many of its existing brokers as well as those he wouldn’t usually come across.
“This confirmed what we are seeing more of, brokers from all kinds of backgrounds having a need for specialist property finance for their clients.
“The ‘live deal’ element makes these events stand out as it allowed us to talk about real deals in the room, some of which have already led to us issuing terms on new transactions.”
Tanya Elmaz, commercial underwriting specialist at Together, felt it was valuable for brokers to talk about their individual cases, not just listen to lender criteria.
“…Five specific cases [were] discussed in detail, four agreed in principle: a refinance on an industrial unit, a purchase of a commercial unit, a [BTL] case and an adverse credit history case cross charged on two properties.
“Seven new contacts [were] made – all [of] which have been followed up by the relevant BDMs, all of [whom] expressed interest with getting registered and working with Together.”
Shahil Kotecha, CEO and principal at Pivot, said that sponsoring the event gave it the opportunity to meet a number of new introducers as well as discussing live transactions.
“It felt like the right mix of open discussion, education and deal structuring.
“While we haven’t secured any deals from the event yet, we had some very positive discussions and have developed a number of new relationships.”
Adam concluded: “The atmosphere was good and I think it was the best FIBA event yet, so a great way to round off the event programme from FIBA.”
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