{"id":4195,"date":"2021-05-10T10:30:32","date_gmt":"2021-05-10T09:30:32","guid":{"rendered":"https:\/\/octagoncapital.co.uk\/?p=4195"},"modified":"2023-07-05T14:05:45","modified_gmt":"2023-07-05T13:05:45","slug":"what-are-the-jobs-available-a-bridging-loans-provider","status":"publish","type":"post","link":"https:\/\/octagoncapital.co.uk\/guides\/what-are-the-jobs-available-a-bridging-loans-provider\/","title":{"rendered":"What Are The Jobs Available at a Bridging Loans Provider?"},"content":{"rendered":"
The bridging loans industry is very fast growing, after all, the sector was worth \u00a31 billion in 2011 and ten years later, it is estimated to be worth over \u00a38 billion. With this comes many job opportunities and today, people may find more scope for working with a bridging loans provider<\/a> or specialist lender<\/a>, rather than working with a traditional bank or mortgage company. Below, Octagon Capital highlights some of the jobs and responsibilities you might find working with a bridging company.<\/p>\n <\/p>\n <\/p>\n A bridging company will always have a team of people who oversee the customer service operations. This may include just answering standard queries from customers, answering the phones, offering initial quotes, following up enquiries and helping put key documents together.<\/p>\n Prior experience in the financial sector may be useful here, but a lot of the skills can be learned on the job. You will need people with good communication skills and confidence answering phone calls and dealing with queries or complaints. If you work in a regulated bridging environment, you will need to be more strict with following procedures and scripts, in line with regulation.<\/p>\n Whilst some bridging companies may have just one or a few customer service agents, you may find that it overlaps with other skills in administration or marketing. In some cases, you could always outsource this to specialist customer service centres such as Tieta or similar partners.<\/p>\n <\/p>\n <\/p>\n <\/p>\n A business development manager or BDM as it is commonly known is a sales role, with the responsibility to find new opportunities and bring in new business. A BDM would be good at speaking to new and existing partners, maintaining strong relationships with brokers that send regular deals and speaking to people at exhibitions and trade shows across the country.<\/p>\n Depending on the size of the firm, you may find that there are BDMs for specific regions, so that they can capture more of that specific market or become more well-known in that area. If they are on the road a lot and going from place to place, it might help if it is in the region of the South-West, or Midlands or a specific area.<\/p>\n BDMs will usually have a starting salary but may also work on commission and the successful completions of some deals.<\/p>\n <\/p>\n The underwriters have a very important role within the organisation to assess the risk and rates of any customers and ultimately decide who is approved and who is not.<\/p>\n The underwriters will typically have a background in business, finance, law or economics and they will have very good analytical skills to assess risk and determine what rates are charged and what deals are approved – in order to make a profit.<\/p>\n Underwriters make key decisions and get the final say on who is accepted (along with the Directors).<\/p>\n The salaries for underwriters will typically be a lot higher, and this is something that you can learn by working in the organisation or you can study for this too. However, a lot of underwriters previously work in finance or law and have transferrable skills to take on this position.<\/p>\n <\/p>\n\n
Customer services advisor<\/h2>\n
Business development manager (BDM)<\/h2>\n
Underwriter<\/h2>\n
Marketing team<\/h2>\n