Chairman's Foreword

Working Together for the Industry

By Adam Tyler, Executive Chairman - FIBA

This month, I have taken part in a number of interviews and looking back at the questions asked it seemed a good moment as we reach the half way point in the year, to look again at what FIBA stands for and how, with your help, we make a difference in the specialist finance industry.

Our aim continues to be a vital focus point for those involved in the Specialist Property Finance market, bringing together advisers, lenders, law firms and valuers and all who have a stake in the success of the commercial sector of the lending market.

We all have the welfare of the end customer as our main goal and by providing the conditions to bring all the major stakeholders together at FIBA, we can work together to improve the experience for our customers, by constantly looking at ways to provide a more streamlined and quicker transaction.

For example, any IFA or residential mortgage broker can engage with FIBA to help them with commercial or specialist finance enquiries, either assisting them to transact the business themselves or working with a local FIBA member to provide a lending solution.

In 2007, there were over 100 lenders focusing on the commercial sector. By the end of 2009 that had fallen to 40. In 2019, there are over 400 lenders competing for finance business. Although competition is fierce, which is good for the consumer, the bewildering array of lending options can be daunting for business owners, even those who have recognised that there are many more options beyond their high street bank. At FIBA, we have put together a lender panel which represents what we consider to be the best of the crop and able to service our members across the country. Our lender panel is proving to be a crucial plus point of FIBA membership.

Although FIBA is owned by Simplybiz, it is run as a not for profit trade association and our current membership list reflects a wide range of adviser firms. However, one of the advantages of having a parent involved in the wider mortgage market means that FIBA has access to some of the best deals in the market as well.

The value that FIBA brings to its members can be summarised as follows: -

• Exclusive lending deals – Interbay and Precise being the most recent
• Simplybiz connections and benefits including top notch compliance support
• Support for the new Senior Managers
• Competitive block PI scheme
• Referrals and networking opportunities with the IFA community
• FCA representation
• Strong connections at Westminster via my work as a director of the Genesis initiative (SME funding) and my report on SME lending for the Treasury Select Committee
• Commercial insurance referrals scheme
• Regional events with industry forums keeping members at the forefront of industry topics and news

The essence of FIBA is about bringing people and firms together that has the effect of enhancing the value of the service offered to customers looking for specialist property finance. The methods that the clearing banks had in the provision of commercial finance for its banking customers has changed  and the value of professional advisers with access to a wide variety of funding solutions is being recognised by more and more SMEs. FIBA provides its members with those solutions backed up with strong support in compliance, training as well as being an active voice working on behalf of the industry highlighting the vital role of helping SME’s to find funding.