The survey which will be published in full on the MSL website is designed to give a ‘warts and all’ picture of the state of the business and provide brokers with an accurate assessment of the business.
As the survey develops, the questionnaire will also include broader based questions about the second charge market to provide data for the wider market.
The three main questions in this inaugural survey concentrated round brokers’ perception of MSL’s service, its underwriting flexibility and whether respondents would recommend MSL to colleagues.
Some 76% of brokers confirmed MSL’s service as ‘excellent’, 64% voted MSL’s flexibility as ‘excellent’ – 24% as ‘good’ and 96% of respondents would recommend MSL to a colleague.
Liam Schewitz, director at Charles Frank Finance, said: “Absolutely top drawer service, best on the market.” and Nicola Mooney, operations manager for Sales and Processing at Freedom Finance added: ‘From a flexibility point of view MSL always looks at a case on merit rather than the black and white criteria.”
Paul Brett, sales director at MSL, said: “Service is everything to MSL; cut an MSL employee in half and you will see the word ‘Service’ running through them like a stick of rock.
“There is often an element of speed involved with secured loans and we regularly complete deals on the day of receipt.
“Flexibility appears to be the best kept secret in the market that brokers are still surprised about how flexible we are as a lender. We really do try to make common sense deals happen.”
He added: “MSL is aiming to provide a completely transparent snapshot of the business, so brokers can see how MSL is seen by their peers.
“As we develop the survey, we aim to make it a valuable source of information that will become a valuable resource for the industry in terms of trends and business forecasting.”