It's a training day today, I'm attending a CPD day where 5 lenders will be presenting.

I must admit to mixed feelings about these days.  If things were quiet for me, then it wouldn't be such an issue, but when I'm busy working in my business I always drag my heels about attending these sessions.  Then of course, I go and find out about new products and changes from lenders.  I'm then really excited because I've found new solutions for my clients.

The challenge for a broker is knowing all of the potential solutions for your clients.  With so many lenders and loans to choose from, how do you keep up to date with them all?

The reality is that most brokers don't try to keep up with their whole lending panel.  They specialise in a small number of lenders and focus upon those products.  I'm exactly the same, I have my preferred lenders while I'm probably a bit shaky on the other lenders in my portfolio. 

That's why talking regularly with other brokers is important to me.  When I'm speaking with other brokers about their practices I learn what they're doing in the market and I also gain insight into who might have specialties with other lenders who I don't regularly deal with.

That inside knowledge can be invaluable.

So, in the interests of finding the best solution for your clients, wouldn't it be useful to run your scenarios past a couple of other brokers, just to see what they come up with?  Who knows what alternatives you may come up with.