The role of a BDM

GRBWA

Hello


So, recently got a DIP with a lender.

Chatting to the broker just prior to making full application he mentioned that he had that very day had a visit from his local BDM for this lender who had looked at my case and advised that she was happy with it.

When I queried if she could affectively authorise or flip a decline on an underwriters decision he advised that they were able to do so providing income/outgoings etc were verified.

Is this the case for all lenders? I assumed they were effectively the sales team with no underwriting authority.

Thanks

amnblog

You assume correctly.

GRBWA

Thanks

Does that mean my broker is giving me BS?

betmunch

I don't know of any BDM's that can override an underwriters decision.


They can help with an appeal that may result in a change of heart from an underwriter, but they don't have a greater authority.

GRBWA

Disappointing that he felt the need to spin me a yarn.

amnblog

That would not have been the intention.


The BDM can 'have the underwriter's ear' and that may have been what your broker was suggesting.


They do not have a mandate to agree lending in the current market.

Dave_Ham

There are a couple of the smaller lenders where the Relationship Manager has authority, although not many.

GRBWA

Would a BDM have a good idea if a case would be ok?

amnblog

Yes they would

GRBWA

Actually Dave,

It was an "IRM" not a BDM.

I daresay it is the same thing and it was with a building society. Not sure if they would be classed as smaller but certainly not a Nationwide for example.

ACG

Depending on the lender and the relationship BDMs/IRMs can have an impact on the final decision.

There used to be a cracking account manager at a small building society we had and literally whatever he said went. You would think he was the MD or something. I think he used to call up and say he gave the wrong information so they need to honour it?