Some 150 members and guests attended the event at the May Fair Hotel in London, during which Simon Juniper, vice-chairman of the AOBP, suggested that the current name may no longer accurately reflect the range of financial services represented in the organisation.
“A number of affiliates at all levels have asked the question: is it enough to be the Association of Bridging Professionals?” Simon explained.
“Should we, in line with the developing market, expand our name, and our reach, to encompass the many products now on offer?
“It is likely that we will open this question up to the membership as a whole to gauge popular sentiment and act accordingly, so please, get those suggestions ready.”
Simon announced that the AOBP had taken on three new lender members in past three months and received applications from eight in total.
The organisation now boasts 790 blue associate intermediaries, 23 executive committee and silver associate packager partners, 33 associate lenders and 22 affiliate associates.
Great event @AOBP_ tonight, well done to @CaronSchreuder and all at AOBP. Great speakers and good to mix with the industry.
— James Bloom (@jamesbloom12) November 24, 2016
Simon was joined by teenage millionaire and entrepreneur Josh Valman, CEO of RPD International, who revealed the secrets behind modern innovation and how to put it into practice.
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Josh inspired guests with the story behind his phenomenal success, which saw him managing millions of pounds by the time he was 17.
Fascinating talk by @JoshValman at the @AOBP_ AGM. Innovation in today's world can hold a room of 150+ silent for 30 minutes #impressive
— Richard Deacon (@richardjdeacon) November 24, 2016
Adam Challis, head of UK residential research at Jones Lang LaSalle (JLL), had also been invited to speak at the event, and gave attendees the latest insights into the future of the property market.
Adam stated that while housing transactions are expected to fall to just 1.08m in 2017, this was predicted to rise to 1.26m by 2021.
Despite this, he warned that a shortage of skilled construction workers could hamstring UK housebuilding; an issue that may worsen post-Brexit.
The evening was concluded by Stephen Todd, director of Valuation Audit Services, who exposed some of the most common pitfalls in the current valuation market.
Stephen admitted that varying bases of valuation could lead to differing values, while omitting the sales history of a property may also limit the report’s accuracy.
Other frequent mistakes included missing comparable evidence, failing to read reports in full and accepting the passing rent for the market rent.
His comments came just weeks after Bridging & Commercial asked whether it was safe to rely entirely on automated valuation models.
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