FIBA creates professional partners panel

The Financial Intermediary & Broker Association (FIBA) has established a professional partners panel.

The panel will be dedicated to providing advisers with a database of legal firms that can demonstrate the necessary knowledge and expertise to handle commercial, bridging and other specialist lending requirements.

Commercial valuers will also appear on the panel and suitable firms will be vetted by a panel of FIBA broker firms.

Adam Tyler, executive chairman at FIBA (pictured above), urged law firms operating in the specialist property market to join the Association and the panel.

“One of the continuing frustrations that advisers continue to face is not being able to introduce a customer to a range of legal firms which actually have the relevant experience  and expertise to deal effectively with the requirements for commercial or specialist property transactions. 

“In meetings with FIBA members, lenders, the wider adviser community and those lawyers who act for the lenders again and again, we are hearing about cases where the law firm in question just does not have the necessary sector knowledge to provide an efficient and timely service.

“Therefore, FIBA is taking a lead in establishing its professional partners panel of legal firms that can demonstrate their competency in the area of commercial transactions and provide FIBA members with an increasingly valuable resource to match their choice of customer-lending solution.” 

Joe Middleton, partner at Lightfoots Solicitors, said it had worked closely with a number of FIBA members for several years and was delighted to feature on the professional partners panel.

“Legal support is a crucial part of any lending process, but so often industry-tailored legal support is what makes the difference. 

“A platform for solicitors who can add value to this sector is hugely beneficial to all parties whether they are brokers or lenders. 

“Identifying those with the right legal background and understanding can only improve conversion rates, timelines and, importantly, the strength and reliability of the security for lenders.”

Firms interested in joining the panel can do so via the FIBA website.

Leave a comment