A day in the life of a BDM

A day in the life of a BDM


Widely considered the lifeblood of bridging lenders, Business Development Managers (BDMs) are at the forefront of the lending operation, and have substantial contact with the bridging community across the board.

In such a varied role encompassing many different areas of business, including education, marketing and product design, here at B&C we decided to take a little look behind the scenes to answer the question – what do BDMs really do? 

And so, giving us the insight Neil Molyneux, Business Development Manager at Cheval, talks to us about a day in his life…  

4th April 2012

The day begins with an early morning wake-up call at 5.30am and soon after I take Marcus, my Labrador, out for his morning walk. It’s absolutely freezing cold!

On the road by 7.15am, coffee in hand and on the way to Wales. This is a three hour trip in morning traffic, giving me chance to catch up with phone calls, news and any new CDs.

My first meeting of the day is with Ben Gillespie at Chase Blue.  We have been working on some new marketing ideas and the purpose of today’s meeting is to discuss new artwork amongst other things. I am really impressed with what his designers have come up with. We discuss, debate and change a lot of the wording on the artwork but I think he has the basis for a really good campaign.

Chase Blue give me two nice enquiries!

I then receive a really interesting phone call whilst driving to my next meeting. It is one of those phones calls where hand- free isn't enough and you have to pull over to do some thinking…

A husband and wife in their eighties want to borrow £50,000+ for home improvements. Initially, I think this sounds uncomplicated and fairly straightforward. However, the husband has dementia, with his daughter the power of attorney. The monies being lent are to be used to extend the daughters house to build an annex for her parents.

After quite a lot of thought and a quick phone call I actually approve the case on the following terms:

- The husband, wife and daughter are all named on the documents

- A comfort charge over the daughter’s house as this is the property which is going to benefit from the loan

- A principle charge on the parents’ house which is   being sold

- Separate legal advisors for each party

The phone appears to be busy this morning with emails stacking up along with messages.  

One of the great things about Cardiff is they have a 'Drive Thru' Starbucks! Sitting in the car drinking coffee and working on my iPad taking advantage of their free wifi! I always wonder how the hell did we survive without the things we now take for granted?

My second meeting of the day is with Y3S where I meet with the two group owners, Matt Cottle and Barney Drake.  

I want to have this meeting to discuss their sourcing system, Miloan. We receive a large number of AIPS generated through their system and I want to take the opportunity to review the Miloan stats with the guys.  

The meeting is great as always. I am delighted that Cheval is receiving by far the largest number of enquiries via the system. As we are sitting talking, Matt logs on to the system and advises me that more quotes have been carried out listing Cheval as the lender! 

The relationship between myself and the guys at Miloan is extremely strong so I always look forward to meeting with them. They show me the enhancements that they are about to launch and I am extremely impressed.

Next, I’m off to Y3S’s Bridging and Commercial to meet with Nathan and Andrew who run this business. It’s a round table meeting and a good opportunity for each of us to give feedback, discuss pipelines and also discuss the market in general.

Soon after, I have a conference call with the office to discuss our Manchester Mortgage Business Expo (MBE) stand as we are exhibiting. 

I then rush over to a friend’s photography studio to have some new PR shots done. I feel extremely foolish for an hour as she snaps away. I don't know how Kate Moss does this all day! 

One of the things I have started doing with introducers is having a specific meeting to discuss their first completion. And so, I meet up with Richard Lovering of HHPG, a fantastic broker based just outside Cardiff.  

They have just completed their first case with Cheval and we literally analyse the case in conjunction with the timeline from start to finish and discuss at length any issues experienced including what went well and where time could have been saved. I really like this meeting because it’s a good opportunity to really see how well Cheval look after introducers and get direct feedback from our customers.  

More returning of phone calls and emails!  

As I'm staying over in Cardiff tonight, I’m having dinner with Barney Drake of Y3S Group! We must be getting old as we will spend most of the evening starting sentences with 'Do you remember when...!'

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