Behind the deal

Meet Lucas Horne, QLD State Manager at Bridgit. Having been with the team for two years now, Lucas has been a driving force in helping brokers and customers bridge the gap to their next property faster. He knows the ins and outs of all things bridging so we figured it was time to have a chat with him and find out what really goes on behind the deal.

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Tell us a bit about what you were doing before you joined Bridgit? 

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Before Bridgit I was at a commercial brokerage specialised in asset finance and unsecured/working capital loans. Originally I started at the top of the funnel team, prequalifying and converting cold leads. Then moved into the broker team, where I wrote the loans. 

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What’s a day in your life at Bridgit look like?

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Usually, I’m on the road meeting brokers. The key focus is to build the relationship and use Bridgit’s product to provide further value to them. If I’m not in a meeting, I’m running scenarios and supporting deals flow through. 

I’m also collating data and finding the opportunities for the team. Also supporting them with any feedback and training. 

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What’s a hurdle you are seeing brokers and customers face in the current market and how are you trying to help solve that? 

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I’m seeing a lack of solution based lending across the board. The majority of the deals I write have been turned away from the majors and other non banks because they don’t fit their policy. I try solving this by restructuring the scenario in a way that fits our policy (or almost fits by exception) but still achieving the end goal for the client. 

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I’m also seeing a generation of people with high levels of equity, but no way of accessing it - whether it is in property, super, share etc. We solve this issue by looking at the client’s entire asset position in the form of exit. 

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What’s a change you think will happen in the industry in the next 12 months? 

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I think in the next 12 months we will see more solution based lending used - both with existing products and new products - from all lenders. I think we are in a uniquely difficult situation where serviceability is reducing and demand continues to increase. Traditional lending does not work in these circumstances. 

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What’s been your most memorable deal? 

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We had a couple who were separating and bought two properties off the plan. The build time was 2 years. By the time the properties were complete they had gotten back together and decided they would not sell the family home.

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Bridgit funded the purchase of the two new properties and the client then sold these to exit.

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Win for the client: they made a profit and didn’t lose their deposit. Win for the broker: they settled a complex deal and will likely have that client for life. Win for us: We made a complex deal really easy.

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What’s a common misconception about the industry you love debunking? 

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Bridging loans should be the last resort. When I first started at Bridgit, I was told more than 10 times a day, why would I use a bridging loan. Now my broker's clients can’t even make an offer without a bridging loan. 

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How would you describe the colour blue? 

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Dark blue - Cold

Light blue - Relaxing

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What would be your ideal weekend? 

My ideal weekend would have to include a morning at the beach, a meal at a nice restaurant, then going home to watch my beloved Panthers win.

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Want to learn more?

Schedule a call with our team to learn more about Bridging finance today.

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