1. How long have you been with Lancashire Mortgage Corporation?
20 years now, I joined straight after college. I suppose to still be here is an achievement but I love it, I’ve never thought of doing something different.
- And what did you do before this? Any after school jobs?
I was just a student! I studied Business Studies and Finance at Bury College. When I left I joined Blemain Group as an office junior, which involved making tea, driving the bosses around, picking people up and doing lots of little jobs. It’s fair to say that I’ve risen through the ranks to the top.
B&C: Do you now have your own office junior?
Yeah, we have a couple of people to help out and make the teas. But I want to train them up and help them to develop their careers.
- What does your job role entail?
I have a number of roles – no two days are ever the same, and so maybe that’s the reason I’ve been here so long and have never gotten bored! I can be promoting new business opportunities; checking deals fit the latest criteria; keeping an entrepreneurial spirit within the business; and ensuring we have the right people to provide knowledge and service to grow our business and drive it forward.
- What’s the best thing about your job?
There are a few things – being a big fish in a small pond, I head up a small company of 260 people, which is small in terms of a property finance company. I really enjoy working with everyone here; they’re a fantastic team of people that all have a hunger for the business. There’s always a good atmosphere, everybody socialises, although I often find it hard to join in, what with the demands of having a young family.
It’s also satisfying when I work with customers who may be having some kind of difficulties, and being able to get them back on track. I get the same buzz about lending and helping brokers as I always did, whether the deal is £5k or £2m!
- …And the worst?
The recession! It’s had a huge impact on the whole market and we’ve had to adapt our business and the products we offer. Shortfalls on redemptions are always tough as we are lending our own money.
Also dealing with new regulations and ensuring the business is in a good position to implement and cater for the changes. It’s very important we do this and get it right, and it takes up a considerable amount of management time.
- Do you find managing brokers’ expectations difficult?
If you believe in what you do it’s not all that difficult. I look at it like brokers are our customers and we need to work with them. A broker’s job is to find a deal for their customer, and even though it might not fit our criteria, I have to appreciate that they’re doing a fantastic job for their client.
I just spoke on the phone for nearly half an hour with one broker, I could help with her original request but she was trying to increase the amount of lending beyond what we could do. But I wanted her to realise that I was trying to help and not just disregarding her.
We pride ourselves on listening to what they have to say but obviously, as a lender, we are going to have the client a lot longer than the broker. We understand the role of the broker, but they need to appreciate that in the current climate all lenders are underwriting deals more carefully.
7. What makes Lancashire Mortgage Corporation different from other lenders?
We offer first and second charges, residential, commercial and semi-commercial loans – as well as bridging and term loans. I think we’re the only lender doing all of these types of lending under one roof.
As a group we’ve been lending for 39 years, so we’ve survived a number of recessions! I think this demonstrates that we’re very resilient, can adapt to change and have very experienced staff working with us.
- If you weren’t working in finance what would be your Plan B?
I’ve always had an interest in property, so I would probably say my Plan B would have been either buying and selling property or an estate agent.
B&C: Really? An estate agent?
I think I’d be a brilliant estate agent, I know what customer service is, and I’m not afraid of hard work. I love work – I spend 12 hours a day, 5 days a week in the office - I can’t get enough of it!
- What do you predict will happen in the specialist finance sector this year?
I’ve seen the market go through some tough times in the last few years, but now it’s consolidating. I think true sub-prime, such as self-employed with no accounts, is a thing of the past. More brokers and lenders are now more aware of regulation and what is required to fund a deal. Affordability and responsible lending are key decision triggers now, but I believe with the major banks losing their appetite to lend to even their good customers, this gives a fantastic opportunity to the specialist finance sector.
- Finally, what is something others would be surprised to find out about you?
Well, I have four fantastic children, aged 2, 4, 6 and 8 (I like even numbers) and so that keeps me very busy. I also try and run 5 times a week.
B&C: 5 times a week? Even with spending 12 hours a day in the office?
Well, actually I haven’t gone running for 2 weeks now, since getting back from holiday I’m finding it hard to motivate myself to wake up at 5.30am everyday...
B&C: Not surprising.
I do a lot of running for charity though! I run half marathons and lots of 10k charity runs for cancer research and children’s charities.
B&C: That’s terrific Marc, well done on that.
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