21 February 2018

Brokerplan – Commercial Finance Broking Can Be Flexible And Lucrative

When Karen Kent who runs Pure Funding generated £33k of fees on her first Property Development case (a further £21k is due this year) she realised she had her perfect work-life balance.

Like many busy mums, Karen’s day starts by getting the kids off to school and then off to David Lloyd for a gym class and a quick coffee with friends. Karen then works part-time on the commercial finance cases generated though Pure Funding which can pay very generous fees.

“I made the decision to bring up my family rather than to return to work full-time, but I wanted something that could fit in with my life and would be worthwhile financially. I came across Brokerplan and realised I could work when I wanted and earn reasonable income while doing so.”

Karen has interests in property which has naturally created a lot of contacts who either need funding themselves (other property professionals) or have clients who need funding (accountants, solicitors, letting agents etc). A natural networker Karen recognised a huge opportunity in developing those contacts.

“I met an experienced developer at a property networking meeting who was struggling to raise the finance he required from the High Street and didn’t know where else to go. I submitted his case to the Brokerplan team who were able to raise the finance needed to develop 27 houses in North Yorkshire and the combined fees for the first tranche of funding was £33k. The second tranche is due to draw early in 2018 and will pay a further £21k with a third tranche due later this year.”

The Brokerplan proposition provides access to commercial funding solutions from almost 300 lenders. With such a wide portfolio the funding options are wide reaching and include buy to let, commercial mortgages, portfolio loans, bridging, development and business funding as well as working capital solutions such as asset finance, factoring, general business loans and revolving credit.

Not all of Karen’s cases generate such large fees. “Most cases I deal with are more run of the mill with buy to let and smaller business loans paying a few hundred pounds to between two and five thousand pounds, and it is the size of the loan that makes the difference. But with so many lenders and such a wide range of products I find myself very popular at the property and business networking meetings I attend, and have a couple more development cases in the pipeline”.

It isn’t necessary to have a financial background to join Brokerplan, nor are there any qualifications required as the relevant FCA authorisation is provided. Cases such as the development case above are not unusual and in recent months two Brokerplan partners have generated more than £100k on a single deal!