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In this week’s episode of ILA on Air, Anastasia sat down with Sam Norris, founder of Grand Union Finance, to discuss what really helps property finance deals move smoothly.
Sam has nearly two decades of experience working in property finance. What stood out in the conversation was how much of a successful transaction is shaped before a lender even sees the deal.
Not through big claims.
Not through rushing.
But through preparation.
This blog shares key takeaways Anastasia learnt from Sam about broker best practice, specifically what he looks for before approaching lenders and why it matters for everyone involved.
Property finance moves quickly, and many borrowers understandably want answers fast.
But as Sam explained, speed is not only about response times. It is often about the quality of information a lender receives at the start.
When a deal is well structured and clearly presented, lenders can make decisions more confidently. Communication is smoother. Timelines become more predictable.
When a deal is unclear or missing key detail, it creates friction. Not because anyone is trying to be difficult, but because decisions require context.
Sam’s view was simple. Better preparation upfront removes unnecessary delay later on.
During the episode, Anastasia asked what good practice looks like in reality, especially when brokers are working against the clock.
Sam explained that strong broker practice often comes down to gathering and presenting the right information early.
While every transaction is different, he shared that there are consistent fundamentals lenders usually need in order to assess a deal properly.
The first step is clarity on the borrower.
Lenders typically need to understand:
Who the borrower is
Their experience and track record
How the deal will be managed
Any relevant context that affects risk
This does not have to be complicated, but it does need to be clear.
Sam highlighted that this early understanding protects the client too, because it reduces the chance of assumptions being made later.
Sam also spoke about the importance of clarity on the property itself.
That includes:
What the property is
Why it suits the strategy
The timeline for the project
The planned exit route
Lenders need to know not just what is being purchased, but how the deal makes sense from start to finish.
When the story of the deal is clear, it is easier for a lender to assess and respond.
A recurring theme in the episode was documentation.
Sam explained that having the right supporting information available early often leads to faster, clearer conversations with lenders.
It reduces back and forth and prevents avoidable delays caused by missing information.
Even small details can matter if they change how a deal is assessed. The goal is not to overwhelm, but to make it easy for lenders to say yes or no with confidence.
One of the most useful insights from the conversation was how lenders process deals.
Lenders see a high volume of enquiries. The clearer the submission, the easier it is for them to engage quickly.
Sam explained that when brokers send vague information, or when deals are not properly packaged, lenders cannot always give meaningful answers early on.
That is when terms become less reliable.
Not because lenders are unreliable, but because they are responding without the full picture.
Good broker practice reduces uncertainty by giving lenders the context they need upfront.
A key part of the episode was the difference between terms that are fully reviewed and terms that are more indicative.
Sam explained that terms can look “agreed” before they have been properly assessed by a lender’s credit team.
That distinction matters because indicative terms:
Are often based on assumptions
May change once documentation is reviewed
Can create false confidence if treated as final
For borrowers, this is one of the biggest areas where misunderstanding can lead to stress later in the transaction.
The takeaway from Anastasia’s conversation with Sam was that clarity is always better than early reassurance.
Property finance transactions involve multiple parties.
When information is structured and communicated clearly, it supports not just the lender relationship, but also the legal process.
Solicitors and legal advisers rely on accurate deal information to progress matters efficiently and advise clients properly.
When finance terms shift late in a deal, it often increases pressure across the transaction and can lead to additional work.
Sam’s view was that stronger process early in a deal reduces friction later for everyone involved.
Sam also spoke about communication as a professional skill.
Not just communicating with the borrower, but communicating across the wider transaction, including lenders and advisers.
He shared that calm, clear communication keeps deals moving.
Pressure and escalation, on the other hand, can have the opposite effect. They often slow things down and damage relationships that matter for future deals.
Anastasia’s key learning was that communication is not just a courtesy. It is part of commercial effectiveness.
This episode highlighted that good outcomes in property finance often come from the basics being done well.
Clear information.
A structured approach.
Realistic expectations.
Calm communication.
Sam’s perspective was a useful reminder that speed comes from clarity, not urgency.
The more prepared the deal is before approaching lenders, the more smoothly the rest of the transaction can run.
This article is based on Episode 1 of ILA on Air, where Anastasia is joined by Sam Norris, founder of Grand Union Finance, to share what he looks for before approaching lenders and why preparation matters in property finance.
Listen to the full episode here on Spotify:
https://open.spotify.com/episode/6G2eFEuuVXCot6A5O2Zll7?si=0CzCJs1BRVes78hn61vESg
If you work in property finance or are involved in transactions day to day, the full conversation offers practical insight from someone who sees the process from the inside.
Tiny disclaimer alert 🚨 This is not advice from iLA, it’s just a helpful summary of our conversations on iLA On Air (aka our educational podcast for the property finance community… making the complicated simple)
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