The specialist finance market has been no exception to this rule — but we must go on adapting for changes that will continue to come.

We have relied on working from home, video calls and strong internet connections. Everyone has fared differently and a sense of camaraderie has been critical.

Tech versus talk?

Technology is part of everyday life, now more than ever. We have seen an increase in the introduction of tech and sourcing systems within the bridging market. This is a positive step and an example of how we as an industry have adapted.

However, bridging remains a complex product. All lenders package their loans in slightly different ways so there is no standard approach. As a result, it is hard for sourcing systems or comparison websites to capture everything available in the market, and it remains challenging to compare bridging products side by side.

Although tech is playing an increasingly important part, the advice process needs human interaction. The role of an experienced broker, therefore, cannot be stressed enough. Experience is still key to managing bridging cases because so many are bespoke.

The customer journey is the most important factor. Clients increasingly expect things to happen instantly — and more often online. I welcome developments in tech to improve the user experience for both client and broker. There is always a need to focus more on trimming the process at the edges, such as ID requirements, AVMs or desktop valuations, and the ability to upload and download documents from a portal. But it must work in harmony with the experience of the broker.

Diversity and development

As we celebrate International Women’s Day, it is exciting to see the industry making positive steps to promote diversity. Women in Finance has always been a topic I support and as a leader myself I feel it is important to nurture all talent within the industry.

Diversity and inclusion drive new ideas and ways of thinking, exciting product innovations and solutions to complex problems. While the mainstream market has moved on, the evolution of the bridging market has not been vast in the past two or three decades. A lot of that is down to the nature of the product. However, diversity in the workplace allows leaders to welcome fresh and young perspectives that we may not have considered.

The needs of developers, landlords and property investors will continue to evolve and change, particularly in how they want to do business with us, and we need to evolve and change too to keep pace.

Lucy Barrett is founder and managing director of Vantage Finance