I’ve worked in the industry for most of my life, starting up and running a number of my own mortgage brokerage firms over the past few decades and gaining around 20,000 property finance clients. Century Capital was a natural progression and my most recent venture. I like to be hands on with all the deals we get through, overseeing transactions and ensuring the team and the clients are all happy.
2 Did you always want to work in finance?
No, I used to want to be an astronaut. However, I was drawn into this industry from an early age. Once I realised I could make good money from it and enjoyed the competitive environment, I was hooked.
3 What impact is Brexit likely to have on the bridging market?
In the short term it is very hard to say. We have had feedback from some valuers that “it’s business as usual” and other valuers who are providing commentary on the potential impact of Brexit. The key issue here is providing historical comparable evidence. This can only be assessed as we move further away from the decision to leave the EU.
4 What one thing would you change about the bridging industry?
Well, right now I would change the Brexit vote because I think it’s scared people unnecessarily, which could impact the lending industry. Saying that, we are working hard to ensure Century Capital and our clients are not affected and to embrace the changes with a positive view.
5 In such a crowded market, what qualities does a bridging lender need to have to stand out?
Distribution and speed to deliver is key.
6 What exciting projects does Century Capital have this year?
A pending funding line that will allow Century to access a wider market of short-term lending.
7 What is the biggest challenge for the bridging market this year?
The obvious [is] Brexit and the impact it will have on property values, specifically in prime London. I also think that MCD [Mortgage Credit Directive] poses unanswered questions.
8 Explain the most interesting deal you have seen at Century Capital.
We recently transacted on a north London purchase with an experienced developer. This individual had been given the option to buy the flat upstairs to create an enhanced marriage value based on location as well as scope to extend. The client already had development finance in place as the exit and a positive gross development value in excess of £13m.
9 What is your favourite part about the bridging industry?
The constant challenges and opportunities it brings, plus working with a determined and dedicated team who are always developing to drive Century’s success further and further.
10. Who is your idol and why?
Not sure about idols, but I would most like to have dinner with [Vladimir] Putin and [Donald] Trump.
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