Don’t wait around for a tip, warns Gareth Lewis, head of business development at Tiuta plc

I will begin with a modern dilemma. Instead of popping along to the local supermarket we will often have our groceries delivered. It normally costs £5 extra but we might spend that in petrol getting to and from the supermarket and it saves us time when we have a little ‘un to look after.

On every occasion I have been there to bring the groceries in there has been what I call a ‘moment’. It is normally when all the bags are in the house and I’ve signed the delivery form. Just for a second, and this happens nearly every time, I will say ‘Thank you very much’ and the driver will hold my gaze for a moment longer than necessary. Now, I might be going mad however I’m presuming that the driver is waiting for a tip.

I’ve never given a tip, nor have I ever heard of anyone else doing so, however that ‘moment’ to my mind is absolutely unmistakable. So, firstly, a question – does anyone out there tip their grocery driver?

I choose not to because, firstly, I’m British and we’re absolutely useless at tipping and recognising when it’s appropriate, and, secondly, part of me thinks the £5 extra I’ve paid is enough to cover the delivery and any extra gratuity that the driver thinks he or she may be entitled to. The fact that he or she won’t see any of that £5 is quite frankly none of my concern – it is paid and therefore I’m not sure why I should have to pay more when I’ve already shelled out for the service.

All this has got me thinking about the level of service we give out as a lender and what is expected from us by our introducers and brokers. Certainly, high service standards are an absolute must for any lender indeed, any broker who continues to use a lender after receiving poor service levels probably needs to reassess their recommendations.

In this marketplace, with competition growing on an almost monthly basis, to put up with a shabby service (at any stage of the process) is really not necessary. Certain brokers might say that they continue to use one lender with poor service because their pricing is so competitive but that really is no excuse nowadays. Particularly, when the client will not thank any broker or introducer who subjects them to a lender that is not on its game.

Clearly, price is important however it is service which makes you stand apart from other lenders. Competing on price alone is surely not the answer, which is why we choose not to do this instead we anticipate that price and service are equally important to the introducer and their client, and it will be the latter that will keep individuals coming back to us.

In essence, if we are not the cheapest in the marketplace, then the introducer and the client are essentially paying slightly more for the service they receive. Much like my own (and many others) use of supermarket delivery services, we want the convenience, the time-saving, the quality perhaps of our favoured brand and foods. This is no different to the bridging loan market, indeed, we urge those active in this market to look less at pricing – given that it is much of a muchness across the sector – and instead focus on the service that is delivered.

With certain lenders you are going to get the quality of service you and your client expect and need with others you are not. Experience and ability to deliver count for a great deal and if the broker/introducer and the lender are able to provide a quality service then the chance of repeat business and referrals from that client are much more likely.

One thing is certain when we deliver in terms of product and service and complete the deal, we certainly won’t be hanging around waiting for a tip.
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