Describe your firm in a few sentences.
We are a small, family team based in a village near Fareham in Hampshire. I give the advice and my husband, Dan, supports me with the vital admin side.
We deal with all kinds of property finance and protection needs, ranging from first-time buyers to complex portfolios, commercial mortgages, bridging, HMO developments and more.
This year is our 10th anniversary. We are really proud to get to this milestone, which has involved a lot of blood, sweat and tears over the years.
What led you to become a broker?
I became a broker more than 20 years ago after exiting the travel industry, which I had been in since leaving school, in various guises.
For new brokers, there is a wealth of industry expertise to call on. Use it before you lose it — it won’t be here forever!
I had always wanted to get into property and finance, but the opportunity never arose. When I had my daughter, I used my time while she was sleeping to study, and then started with a telephone-based brokerage when qualified. The rest is history!
What plans do you have for the future of your firm?
We have no plans to expand as we both enjoy speaking directly with our customers.
Our customers speak only to us; they don’t have lengthy call waits and have multiple channels to access us. We want our business to go from strength to strength in its current form. We are in the lucky situation where we are now helping the children of our customers, which is a sobering moment!
What single thing could lenders do to improve brokers’ lives the most?
Where do I start? There are a handful of lenders that are very good at what they do, but so many forget there is a customer at the end of the transaction, who has a choice.
Students get pushed down different paths by careers advisers, such as technology, and I feel we are overlooked. I haven’t heard anyone say they want to be a mortgage broker
As a broker, we too are customers. We waste so much time waiting for calls or live chat to be answered.
Time is also wasted with careless, and often needless, underwriter queries. These can often be solved in information they already have, or via other means, and some are total nonsense.
Common sense appears to have been lost and it appears there is a swathe of inexperienced staff now. Everyone has to start somewhere, but staff need to be monitored better and equipped with the right tools and training before being put on the front line.
Our customers speak only to us; they don’t have lengthy call waits and have multiple channels to access us
Brokers aren’t faultless but, rather than just move something on, we need much more cohesive working — more haste and less speed.
What advice do you have for new brokers?
Take every bit of training, advice and support available and don’t be scared to say you don’t know the answer to something. Just find it out, make a note and learn it. Never blag your answer as it will always come back and bite you. You will make mistakes; don’t beat yourself up but learn from them.
There is a wealth of industry expertise to call on. Use it before you lose it — it won’t be here forever!
A handful of lenders are very good at what they do, but so many forget there is a customer at the end of the transaction, who has a choice
Nothing is too big or small as you don’t know what each opportunity will lead to. I still have my little black book, which was my ‘Broker Bible’ before the technology we now have.
A lot of people come into the job thinking it is easy. It is incredibly stressful, but also rewarding when things are good. You need flexibility, tenacity and resilience. It certainly isn’t ‘easy money’.
It takes time to establish yourself and for people to trust you. Treat it like learning to drive: you can read all the books, do the theory and pass the test, but it is doing the job itself where you get the knowledge, expertise and experience.
How can the industry encourage a new intake of brokers?
The appetite for recruiting needs to start in schools. There is little financial education so there is no drive for students to explore options in the financial services sector.
Take every bit of training, advice and support available and don’t be scared to say you don’t know the answer to something
Most people I know in the industry are here by accident! Students have been pushed down different paths by careers advisers, such as technology, and I feel we are overlooked. I haven’t heard anyone say they want to be a mortgage broker, and most don’t actually know what we do.
Schools need to engage more with local communities but so many don’t think outside the box or put enough effort or resources in place.
If you would like your firm to be featured in Broker Focus, please email Mortgage Strategy reporter Becky Bellamy at: becky.bellamy@emap.com
This article featured in the November 2024 edition of Mortgage Strategy.
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