Describe your firm in a few sentences.
We are experts in the unregulated mortgage market — buy-to-let (BTL), bridging, and commercial and development finance.
We launched TBK Specialist Finance last year (it’s almost our first birthday!). We handle all the time-consuming paperwork for our clients, ensuring applications are as streamlined and effortless as possible.
Be genuine with lenders. Push the criteria boundaries, but always be respectful when the answer is ‘No’
We’re dedicated to finding solutions for property investors whose cases are slightly more challenging to place.
What led you to become a broker?
My journey began at Nationwide Building Society as a customer service agent and then a personal banking manager. But my passion was always property!
I almost became an estate agent but opted to join a specialist mortgage brokerage instead, where I progressed to becoming a broker. I studied for CeMap during evenings and weekends.
Showcase the achievements of new and upcoming brokers as this will inspire those who’re hoping to make it themselves
I believe this was the best choice because it’s opened up so many avenues. For example, I now project manage refurbishment jobs, and this has enabled me to develop into a much better broker for BTL and bridging loans.
What plans do you have for the future of your firm?
Growth! It’s been an exciting first year as a new brokerage and within the next few months we plan to expand our team.
We’ve already secured two more locations (previously we were just in Kent, but we now have a base in Swansea too). We’re striving towards having a great team of brokers and brilliant case managers!
It’s important to be able to explain to your client why you’re unable to go for the ‘cheapest’ rate
We plan to stick to BTL, bridging, and development and commercial finance. We’re always looking to link up with great referral routes to enable us to provide a ‘one-stop shop’ for our clients.
What single thing could lenders do to improve brokers’ lives the most?
Direct access to underwriters is key. It enables us to set our clients’ expectations sufficiently, and to better understand criteria and the rationale behind lending decisions.
There are a select few lenders that allow this, and it makes the process so much more streamlined. Underwriters get the responses they need much more quickly, and we get a better understanding of the rationale for the questions. Ultimately, it is much more effective. We do, however, understand how busy underwriters can be and why they require a support team.
What advice do you have for a broker just starting out?
Dedicate your time to building good relationships with business development managers and underwriters. Trust us — this will make your life much easier! And be genuine with lenders. Push the criteria boundaries, but always be respectful when the answer is ‘No’ (and the same goes when chasing for case updates or challenging declines!).
I studied for CeMap. I believe this was the best choice because it’s opened up so many avenues
Work on your negotiation skills. This will help to gain the best outcomes in both your lender and client relationships.
Due to how competitive the market is, it’s important to be able to explain to your client why you’re unable to go for the ‘cheapest’ rate, or perhaps why this option is not the most suitable for them. Ultimately, broking is a sales role, and your job is to ensure your client has the most suitable product for their circumstances.
With lenders (especially in the bridging and development space), there is room for negotiation on fees and rate, but you’ll find you benefit from those only once you’ve proved you can submit good-quality cases and have built relationships and rapport with the right people.
How can the industry encourage a new intake of brokers?
Beat the stereotype! Many firms still have an unbalanced selection of brokers (it still seems to be very male dominated, for example).
Showcase the achievements of new and upcoming brokers as this will inspire those who’re hoping to make it themselves!
I now project manage refurbishment jobs, and this has enabled me to develop into a much better broker for BTL and bridging loans
This can be done through social media or articles in finance magazines, and by encouraging firms to share these with their teams so as to inspire their up-and-comers.
If you would like your firm to be featured in Broker Focus, please email Mortgage Strategy reporter Becky Bellamy at: [email protected]
This article featured in the May edition of MS.
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