Brokers split on bridging qualification
At the AOBP Forum 2014 delegates were asked if they would support the introduction of an industry wide qualification.
Almost 50% of delegates (49%) said they would support such a move whilst 37% said they would oppose it.
Andrew Bloom, director at Masthaven Bridging Finance, was sceptical of the benefit of such a qualification.
He said: “Moving into a world of increased regulation a qualification would teach people the backbone of what they need to know.
“There is a lot of ignorance in the market but I’m not sure if an ifs backed qualification is the right solution.”
Delegates were also asked if they found headline rates on bridging products mis-managed clients expectations.
Two thirds of delegates (66%) said they thought that headline rates were leading to clients expecting too much from lenders.