Join the discussion
Mortgage Focus will hold its first roundtable event on May 20th to discuss the positive and negative attributes the‘ Bank of Mum and Dad’ is having on the market. Recent studies by Legal & General show that the lending power of parents to help their children take the first steps onto the property ladder is to reach £ 5 billion in 2016, financing more than 25 % of mortgage transactions this year. If the lending power of these parents was combined, it would be a top 10 mortgage provider.
60 Seconds with Jamie Pritchard,
National Sales Manager at Precise Mortgages
Comment
It will be an opportunity to discuss and debate this topic will fellow peers, as well as a networking event to get to know the people behind our upcoming magazine. Our Editor, Amber Pritchard, will be leading the question time amongst a panel of brokers, leaders and intermediates The event will be held in London’ s Garden Museum across from Lambeth Palace on the south bank of the River Thames. If you would like to be part of the thought leadership discussion and network with some of the key directors in the industry please contact: amberainsley @ mortgagefocus. com
By AMBER PRITCHARD
What made you join the mortgage industry?
Like many, I did not grow up dreaming of a career in financial services but I have always been interested in selling and I love building relationships. Through working in Standard Life and running my own company, I identified that mortgage advice could help me achieve all the goals I set myself.
What do you enjoy most about your day-to-day role?
The unique and unrivalled position of dealing with the whole lending scenario for the customer – whether secured loan, bridging, complex buy-to-let or residential – and then building relationships with brokers through meetings, workshops and events. No day is ever the same as the previous one and the pressure to succeed and deliver is what drives me. Customer service and communication are key.
What is the biggest challenge facing brokers?
Keeping up with the constantly changing lending criteria and the increased business puts added pressure on them to get each deal written and packaged correctly. The time spent on each case has increased dramatically. This can lead to the broker not allowing enough time to recommend protection to the customer.
What will the range of products involve in your businesses take on the government’ s home ownership initiatives?
© Jamie Pritchard
The rates and products for the Help to Buy London scheme would look the same as Precise’ s existing Help to Buy range, launched earlier this year. The range offers a two-year fixed rate starting at 3.95 % and fouryear fix starting at 4.20 %. All deals come with a product fee of £ 995 and loan limit of £ 450,000.
What is the best piece of advice you have received?
Concentrate on getting your behaviour and attitude right and the targets will look after themselves.
Which one change would you make to the market?
All brokers would have a much more comprehensive understanding of the lenders and their criteria, and the confidence to use specialist lenders and smaller building societies. This increased knowledge could ultimately help the customer to achieve their goals more efficiently. In a society that relies increasingly on multimedia, we should explore ways to communicate this information to up-skill.
Who is your all-time hero?
My dad. His work ethic and his drive to constantly better himself to provide for his family have inspired me. I learnt to keep striving to get that 1 per cent gain above others to stay ahead. Dad is the first person I go to for advice and to have a laugh with or watch the football.
Next month:
Next month’ s issue will take an in-depth look into the self certification market, including reactions to its blanket ban by the Financial Conduct Authority in the Mortgage Market Review. As well as its advantages of being an offshore product and why the risk approach is outdated with the rise of more people becoming self-employed. There will be an exclusive interview with selfcert. co. uk owner and founder of unsecured lender Quick Loans, Graeme Wingate, on how he managed to get around the FCA rules by setting up shop in Prague.
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