"Can I get some terms please?"

“Can I get some terms?”.

What feels like a simple question, that should probably have a binary outcome, (either “Yes, here they are” or, “No you cannot”) leads to a whole host of potential outcomes in the specialist lending world. I’ve seen it called all kinds of things over the years; an AIP, a DIP, Indicative Terms or HOTs; some will take it to Credit, others just send out a word document.

Other parts of the lending world (notably mortgages) must deal with enquiries in a certain way and apply a uniformed approach. One of the advantages of the specialist sector is that we can be creative but the next few weeks, as Christmas approaches and deadlines appear, make it more important than ever for brokers to know how much certainty they can take from the terms they receive.

At Avamore our focus on always being transparent in everything we do; we can offer a couple of different things; Indicative Terms (based on the numbers provided) and Heads of Terms (a more detailed review of the scheme/borrower and a formal credit approval). Last week we introduced an addition to this, where our Credit and Sales teams jump on a call with our broker and borrower and nail down exactly what we need, and the next steps. The results have been fantastic. Deals are progressing at pace, professionals instructed that day and most of the credit questions are covered in 15 minutes. The deal is primed to achieve the deadlines we must meet.

There’s nothing quite like the festive period when it comes to deals needing to complete in a certain timeframe. If you want Indicative terms, then we can give them to you. If you want Heads of Terms, and the absolute confidence of delivery, we can give you that too.

At the The Finance Professional Show tomorrow we will be there in numbers to chat through any deals that are on your desk or coming up. Either see you there, or drop me a DM if you’d like me to look at something sooner.?