Hear from one of our network partners Özgen
Hear from one of our network partners Özgen On Wednesday the 15th of September we invited network partner Özgen Halil to joins us for a discovery webinar for potential new partners. As an Acumen Finance AFC, Özgen joined us in February 2020 after a career in business management for a cleaning company, prior to which she was a legal executive for HSBC. Özgen has been a real asset to the network ever since she arrived, being kind enough to let us ask her a couple of questions about her time with Brokerplan. What made you decide to join Brokerplan? I was looking to set up a business that I could work from home and also fit in my book writing too and after looking at several franchises, I came across Brokerplan which I found to be the best fit. I looked at various franchises and Brokerplan offered a lot more in terms of low starting up costs compared to others, dealing with the set up and the support they provide. Also being a finance broker was something I had not done before as I come from a Legal PA/Executive background and worked at city law firms for over 25 years and it was important that I was dealing with a professional company. For you personally, what’s been your most interesting case to date? So far All my cases have been interesting and I have enjoyed every one of them. Every single one of my cases have been unique in their own way with different experiences and all of my cases have been for property finance so far. How did you find support from the team at head office, particularly in the early stages? The support I have received from Brokerplan and still receive is absolutely fantastic. In the beginning I asked a lot of questions and head office always explained everything to me so that I could understand and they made sure I was fully supported throughout my cases. They helped me familiarise myself with products and procedures. They literally hand-held me through the early stages whilst I got the hang of things and to be honest I feel safe with them by my side helping me through each of my cases. Also, I have to say that the team-members are all very professional and a real pleasure to work with too. What are you most proud of since joining the network? I am really proud of how far I have come along since I started at the end of Feb 2020 (just before COVID kicked in). My business is going from strength to strength and I am getting more clients now through recommendations and referrals mostly which is great. I am also proud of myself on a personal development level as I have also come a long way from the beginning and I am much more confident when dealing with clients now. Do you have any advice for someone who is thinking of joining Brokerplan? I would say that if you are thinking of joining Brokerplan, then you are definitely in safe hands with them and their support is just fantastic. I started from scratch with no experience no knowledge of Finance or the various products available and thanks to Brokerplan with all their support, I am now confident and a professional, competent broker as a result. Also as an AR all the FCA stuff is sorted out internally for me too, Brokerplan run lots of webinars whether its with lenders for keeping us in the loop with criteria and products, or marketing tips or just extra training too which is great. What did you do before joining Brokerplan, and what skills did you bring with you to your new position? I was a Legal PA/Executive and worked for city law firms for over 25 years. I also worked ‘in-house legal’ as a Legal Executive at a bank. A lot of my skills have been transferrable in terms of dealing with clients and case handling and admin paperwork too.
Autolease – New Systems & Increased Broker Support
Autolease – New Systems & Increased Broker Support We are pleased to announce that Brokerplan Autolease have just secured a partnership with The Motor Hub. This will give our autolease advisors a platform designed for them to be able to run their own quotations, along with a dedicated support email address for help with detailed quotes and availability queries (from two main lenders being Arval & Santander). In addition to this, the Motor Hub have very strong Ford links, which we will also be able to provide our partners with the same platform for everything Ford, funded via Ford Lease. This partnership will help to secure more business, provide faster response times for customers and give greater autonomy with customer enquiries. As another value-added benefit for our partners, we have teamed up with FairSquare to bring an exciting new opportunity, which in turn will allow partners to earn further commissions. They have created a plugin to display their offers within our broker websites. FairSquare offers up to 10,000 new and quality main dealer used vehicles to choose from. Providing a range of finance options from a selection of lenders, completing the journey with safe and secure delivery of the vehicle to the customers door.
Why join a dual-authorised network?
Why join a dual-authorised network? Joining a firm with direct authorisation to carry out both commercial and residential activities opens the door to offering more products and creates more opportunities. Brokerplan is an established principal in both worlds, therefore you will gain access to over 300 commercial lenders, whole of market regulated mortgage lenders and expertise across both areas. Generally, networks will provide you with the necessary authorisation to broker commercial or residential mortgages, Brokerplan Academy will allow you to do both – Under one brand! (Or if you decide you’d rather not go through the required exams to offer regulated advice, the team at Brokerplan Academy will handle these cases for you – paying out a referral fee!) This means that you can take on a wider variety of deals, generate more income from fewer clients, and provide further support to your clients. It creates the opportunity to become a one-stop shop for your clients, meaning you can control their entire client journey ensuring they have a positive experience and the right solution for them is found. We can see this with a recent deal from one of our network partners, when a short-term ‘bridging’ loan turns out to be regulated. £675k Bridging Loan Success In this deal, the client currently has 2 semi-detached cottages with land valued at c.£450-£475k each – Because the client currently lives in one property, the deal will be classified as regulated. Any advisor who doesn’t have the necessary qualifications and permissions will have to outsource to a residential broker. However, our broker submitted this deal to our head offices where we have advisors on hand who can help. After submitting the case to Glenhawk and completing all of the necessary documentation, an offer was issued to the client which was gladly accepted. The loan was used to clear existing charges with an ex-partner and mortgage provider, and allow the owner to split the land titles and to get planning on the new title for a residential property. The total case income generated from this £675k bridging facility was £15,485.58 Want to Find Out More? To find out how you can join the Brokerplan Academy and work on rewarding client deals, call 0333 405 6666 or email enquiries@brokerplan.co.uk
Brokerplan Partner Shortlisted for Industry Award
Brokerplan Partner Shortlisted for Industry Award View this post on Instagram A post shared by Lochend Finance (@lochend_finance) We are delighted to announce that one of our Brokerplan Partners has been shortlisted for ‘Sole Trader of the Year’ award. The awards are presented by the National Association of Commercial Finance Brokers (NACFB) who are one of the prominent industry bodies in this sector. This nomination is a huge honor and well deserved by Lochend Finance who have worked very hard over the past couple of years to establish and develop their brokerage. Click Here to Read about some of Lochend’s Deals Congratulations to Stuart and the Lochend Finance team, we are wishing the best of luck to them in the awards!
New Brokerplan Academy Website Launches!
New Brokerplan Academy Website Launches! Brokerplan are thrilled to announce that we have launched our new and improved Academy website! The launch reflects the expansion of our partner packages, which were developed and launched late last year in response to growing demand for these services. We are now able to offer packages covering an even wider range of financial services including: Commercial Mortgages Cashflow Solutions and Business Loans Asset & Invoice Finance Residential and Buy-to-Let Mortgages Insurances and Protection Services Wills, Trusts and Estate Planning NEW Autolease – Car and Van Leasing NEW R&D Tax Reclaims NEW Superbroker Packages After a successful roll out of the new packages to our existing network we are now promoting these to new partners and franchisees – Please submit an enquiry or contact form to receive further information from our business development team. All packages come with comprehensive training courses, which are consistently well commended by our partners: “The Brokerplan training has been such a fantastic and pleasant experience from start to finish, I really enjoyed it. The trainers conducted the 3-day course in a professional and easy to understand way from start to finish, providing us with the most valuable information and tools to get started in the commercial broking business with some brilliant tips thrown in. A massive thank you to everyone at Brokerplan for such valuable training and for just looking after us all the way through. The support has been amazing, and everything was delivered in a very warm and friendly manner.” Özgen H “The Brokerplan introductory training is an excellent way of getting a comprehensive overview of the commercial finance consultant role and products available to utilise. Although the range of content within training can be a lot to absorb, it also is constructive so that when you leave you have got a good step forward to starting the journey more confidently. It is also great way of meeting the key individuals within the Brokerplan team, who are all very supportive and keen to show that everyone will work together to achieve success.” Richard S Click Here to book a call with our Business Development Team
Case Study – Birmingham Buy to Let Purchase
Case Study – Birmingham Buy to Let Purchase For this project, the client wanted to purchase a six-bedroomed HMO (house of multiple occupants) in their limited company. The Birmingham property has two kitchens and is spread over three floors, it needed to be valued ASAP as the agents had had have a lot of interest in this property. The loan required was £262,500 and the purchase price of the property was £352,500 The Brokerplan partner approached Precise Mortgages, who declined due to the property layout, then it was discussed with Fleet Mortgages who, due to COVID restriction, couldn’t guarantee when they would be able to get a valuer. The case was then discussed with Shawbrook Bank, who found the property acceptable and could instruct valuation quickly via their online system. The client was happy to proceed with Shawbrook Bank on this basis, as the interest rate was not his priority but speed in valuation. The Brokerplan Partner who successfully managed to close this deal earned £4,388.26 in net commission. This case displays the value of a commercial broker who understands the lending and criteria and funders who operate in this market. At Brokerplan we provide both initial business launch training and ongoing training and support to help facilitate and improve our Broker’s knowledge of current products and criteria to ensure they are able to find the best solutions for their clients. To find out more about becoming a Commercial Finance Broker with Brokerplan you can email info@brokerplan.co.uk or call 0333 405 6666
Kickstarter Takeaways
Kickstarter Takeaways In my first two months working for Brokerplan Academy, I have picked up many new skills and developed my understanding of the Business and the various departments within. I have had great support from my colleagues who have pushed me when required and helped develop my skills by giving me new responsibilities and tasks. My role mainly consists of allocating deals to our R.M team, liaising with our Brokerplan network partners on enquiries, assisting the accounting team and general admin support. Through the execution of my daily tasks, I have built fantastic working relationships with my colleagues as well as our Brokerplan Academy network partners. My top takeaway from working at Brokerplan is my expanding knowledge of alternative business and property finance and traditional mortgages. This is something that I can use for the rest of my life and something that will benefit me greatly in the future, whether it be financing a car or buying my first home. In conclusion, after two months of working at Brokerplan Academy I have been made to feel extremely welcome and enjoyed every second of working here. I have the ambition and support from Brokerplan to help continue my career in the alternative finance and broking space and looking forward to seeing where the journey takes me.
£50k in 50 Days
£50k in 50 Days The commercial finance sector is renowned for generating eye-watering fees on single deals. Indeed, gross earnings of £100k+ are a regular feature, but of course, these deals are well sought after, and for those new to the industry difficult to land. The majority of commercial brokers establish themselves by developing a pipeline of smaller cases to build regular income and hope to close the bigger deals as a bonus. With a strong enough deal flow, the revenue stream can pay significant dividends from multiple, smaller deals across various products as this news story illustrates. Brokerplan network partner Stuart Cruickshank, who runs Lochend Finance from an idyllic location west of Glasgow is an experienced finance professional who joined the network in August 2019. Stuart was one of those who were quick to identify and maximise the opportunity presented by the changing environment created by the COVID pandemic. Building on his early success since joining, Stuart recently completed on £50k gross commission in under 50 days. This demonstrates the value in a working as a proactive broker who drives deals forward using the commercial finance opportunity available through the Brokerplan Academy. The breadth and diversity of the deals, spanning a range of solutions, is evidence of the unparalleled lending panel available to the Brokerplan commercial network. Many of the loans were part of the government’s CBILS scheme, designed to provide SMEs with financial support during the pandemic. Being able to react positively in challenging times and keeping up to date with the latest products is essential in providing the best client advice which is exactly what Stuart has achieved. In doing so, he has generated an average £1000 per day for 50 days – a genuine win/win.. well done Stuart. New van for a furniture refurbishment business £15k on a 5-year Hire Purchase deal – £450 Purchase of £125k second-hand crane 3-year Hire Purchase (CBILS supported) – £3750 CBILS loan for professional services firm – £200k on a 5-year loan term – £4750 CBILS loan for IT firm – £187k on a 5-year term – £4441 Purchase of scaffolding for a business £30k 3-year Hire Purchase – £3000 Purchase of a used food trailer for a business £26,800 3-year Hire Purchase (CBILS Supported) – £798 Purchase of 2 nearly-new motorhomes for a motorhome rental business – £68,175 5-year Hire Purchase – £2727 Regulated bridging loan £129,500 for 6-month term – £3189 Property Development Loan £560k on a 12-month facility – £15149 Limited Company Buy-to-Let – £75,684 on a 5-year fixed rate – £1974 Purchase of 6 used campervans £95k 5-year Hire Purchase – £4750 CBILS Term Loan £150k – £2250 CBILS Term Loan £76,834 – £1806 Purchase of a Motorhome £20k – £1000 The gross commission generated by broking these deals totalled over £50,034 “I personally find having a mix of business works best for me. Having Asset Finance transactions that turn around quickly helps with cash flow as the property transaction can take a number of months. It also means that not all my eggs are not in one basket and I can be flexible and adapt to changing market conditions and customers’ needs.” Stuart Cruickshank Lochend Finance Lenders Brokerplan network partners have access to an unparalleled whole of market panel of over 300 lenders. A selection of the lenders providing funds in these cases include: Hampshire Trust Bank, Funding Circle, United Trust Bank, Praetura Finance and more… Lead Generation There are multiple ways in which finance brokers can generate leads, and relationship building is at the heart of almost every successfully closed deal. Leads for these cases came from a variety of sources, including: BNI networking meeting, repeat business, returning client, client’s IFA, LinkedIn, client’s architect, referral from another Broker, client’s accountant. The Opportunity If you are interested in joining the 1 million professionals operating in the £132bn financial services sector, the Brokerplan Academy is an excellent place to learn the ropes. Want to learn more about Brokerplan? Call 0333 405 6666 | Or email info@brokerplan.co.uk
£1.1M Saltburn Property Development Deal
£1.1M Saltburn Property Development Deal Brokerplan Network Partner Chris Cullen of Lunaria Finance has recently completed on a £1.1 million development loan for an experienced property developer – An amazing achievement! The client in this case had previously attempted to obtain a loan via their usual broker who, unfortunately, was unable to place the deal for them. After receiving a direct marketing communication from Chris, the client decided to give it another try, to see if Chris could secure them the funding needed to get the project off the ground. For this development, the client had carved off a piece of land – which was previously held on the same title as his private residence – And had secured planning permission to build 6 detached residential properties. They had experience developing properties but this project was the first that they were to be attempting themselves. This combined with the requirement of a charge against the client’s residential property meant that a specialist broker with knowledge of the market and lenders who were likely to consider this type of deal was needed to get the case funded. Chris presented the client’s requirements to 4 lenders and, after some discussion and consideration, eventually settled with Affirmative Finance who were comfortable with the client and their project. Affirmative Finance is a UK-based lender that specialises in short-term ‘bridging’ and property development finance and our contact Ian Harrison was invaluable in assessing and eventually getting this deal over the line for the client. Having previously attempted to obtain funding, the client had most of the information and documentation at hand to supply Chris and Affirmative with and so the application and processing was a relatively painless and smooth one. The client is currently looking at more development projects which may generate additional opportunities and revenue for all parties in the future!
3 Recent Partner Deals
3 Recent Partner Deals Previous Next Above are three recent partner deal summaries from some of our current network partners, scroll through to see basic deal details and commissions earned across a variety of product areas. Want to learn more about Brokerplan and how you can generate sizable commissions from brokering commercial finance to clients? Call 0333 405 6666 to find out more or book a call with our business development team here
