If 2020 taught us anything, it is that change is constant. To succeed and thrive, in this ever-changing environment, resilience is essential both professionally and personally. At LendSwift we work tirelessly to adjust and reset our business model and lending criteria to cope with a changing marketplace.

Studies show there is a strong correlation between efficiency and profitability. With the potential for a recession or slowdown, in the coming months as furlough schemes end and stamp duty holiday expire, there are inherent risks. In response to these perceived risks, at LendSwift, we have worked to improve our efficiency. Most notably, we have split our team; certain members look at only loans that are over term, assisting the borrower to bring the loans to a close as quickly as possible. We have also reviewed our credit control policy and identified that Exit strategies for certain properties might be problematic, especially if the Exit is the sale of inner-city apartment. We have created a loan hierarchy, where the most preferable loans are detached properties, in a rural location, within an easy commute to a city centre and the least desirable are city centre apartments with no access to outside space.

We still look at loans on a case-by-case basis, however for now we will be cautious with loan applications from developers who propose to build apartments. Although times are tough right now, it will not last forever. We are constantly looking at our policies and our place in the market to ensure we provide the best opportunities for business growth which in turns fuels investor confidence.