As I sat overwhelmed, pondering what market reflections to include in this article it struck me that I can’t be the only one ‘feeling it’ right now.
One of the biggest challenges we are facing in the specialist lending market currently is managing the market itself. As we juggle the expectations of clients and our desired service levels, while protecting our own boundaries and wellbeing, it can feel a lot at times.
Revisiting cases as rates change
It’s a fast-changing, rate-moving environment again that’s thankfully moving in the right direction this time. But it brings with it the need to review submitted cases and the terms provided.
Almost daily, we see lenders shifting criteria, affordability and loan-to-value (LTV) thresholds. A positive move, showing an increasing appetite to lend and a lower perception of risk.
It’s encouraging news for our investors, but gives us more to consider as we strive to ensure our clients still have the best deal available in the timescales required.
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Of course, some lenders are more willing than others to review their rates as cases progress, while some lender systems and processes can be undesirable. If only it were as simple as a quick call with the business development manager (BDM) or a system note to progress cases across the board. That could certainly help to lighten the load.
Managing a work/life balance
Lead volume is high, which is another great sign. Investors are finding opportunities for below-market-value transactions and off-market deals. With that comes a need to move swiftly and an internal battle not to work 24/7.
Of course, we are nothing but grateful for the market shifts. I cast my mind back to the weeks before the mini Budget, when rates spiked and deals fell off the table as costs escalated.
That’s certainly a position that none of us want to see again. However, managing our ‘new normal’ can be all-consuming.
My eldest caught me looking burnt out last week and declared: “Mummy, you need to take a break. It’s good for you.”
Reflecting on the wise words of my 10-year-old boy and empowered by the thoughts that ‘whatever is good for me, must be good for the business’, I took a break. Thanks to the support of my team, nothing fell over, and I came back renewed and with gusto.
Prioritising wellbeing
I’ve reminded myself that it’s as important (if not more) to look after our own wellbeing as it is to manage our business and client journey.
It felt like a message worth sharing. Whether that be through a lunchtime stroll, a trip away or just some time offline and a digital detox, sometimes we have to slow down to move forward.
It’s true what they say after all; you can’t give from an empty cup.
Is it time for you to take a break too?
