Giving credit where credit is due

As a non-bank lender, there are a range of considerations for us to make when it comes to lending. Our Credit team takes a stringent approach when assessing applications to ensure we are supporting the right type of transactions.

The Assetline credit team is led by Farrel Joffe, Head of Credit, and comprises credit analysts and property risk analysts. Recently, we sat down with Farrel to learn more about the credit team and how they work closely with BDMs and brokers to ensure the right solution is found for each borrower and project.

Our credit assessment process

The credit analysts and property risk analysts work very closely on all transactions. “It's an important combination. Credit analysts focus on the credit due diligence of a transaction, and the property team focuses on the security,”

Every transaction is assessed using the 5 C’s: Character, Collateral, Capacity, Capital and Conditions.

Let’s look at character  for example. Time is taken to understand the risk profile of the borrower. We aim to get as much information as possible about the borrowers from the brokers we deal with, and then conduct our assessment using credit reports and other relevant searches.

Our dedicated property risk team assesses the collateral for every transaction.

Farrel explains, “not only do we get valuations from external valuers, we also have our team run through those valuations to make sure we are comfortable with those numbers,” he says. We’re proud of this comprehensive and robust part of the credit assessment process.

Our rigorous credit assessment ensures we’re only saying ‘yes’ to the right loans. This is the reason more and more borrowers are choosing Assetline for their property-backed transactions.

“One of the unique aspects of our team is that the property analysis gives us an extra level of comfort when it comes to understanding the security that we are taking for a deal and making sure that at the end of the day we’re comfortable with all aspects of it – including the actual value, the location, the liquidity or any number of things that are relevant when assessing security,” adds Farrel.

Get access to the decision-makers

Credit assessors are often thought of as uncontactable - ‘comfortable in their ivory towers, unreachable by brokers and borrowers. We’re challenging that stereotype’, says Farrel.

“With Assetline, you’re not submitting your loan application to just a computer or to a queue of hundreds only to be assessed by a black-and-white process. It’s a very hands-on, transparent approach. Assetline has an open door policy and brokers are able to have direct contact with our team,” Farrel explains.

Asking the right questions to get to swift decisions

Brokers are asked for as much accurate information upfront as they can provide upon application. Our BDMs are trained to understand each product comprehensively, so they can ask all the right questions on first contact with brokers.

“We pride ourselves on the fact that our credit and property teams and BDMs work together to understand the clients requirements. We get right to the point on the issues that typically come up, and can work through those issues quickly.” explains Farrel.

A human approach

“Today’s credit landscape is complex, and we know that brokers are working with unique transactions,” says Farrel. “For us in the credit team, we also need to be satisfied with the purpose of the loan and the exit strategy. If there is anything adverse that surfaces, we need to understand the reasons behind it. We know that people do run into issues that create problems for them when seeking finance,” Farrel explains, “As long as we understand the history of the situation - why it came about, what are the things that are going to get them out of the situation - if we’re satisfied , we’re able to consider it.”

“This isn’t a case of, ‘if the banks say no, come to a private lender’. Sometimes, borrowers prioritise flexibility, speed, ongoing support and consideration of their unique circumstances and therefore Assetline is the right choice. There’s a place for each kind of borrower within property finance, and we’ll work with brokers to make sure the borrower is getting to the correct solution for them in each case."

If you’re ready to submit a deal and need a fast conditional approval, submit your quick quote. You’ll be connected with our excellent BDMs and experienced credit team shortly.