FR: Mortgage lending recently saw the best month since 2008 – have you seen a noticeable improvement in the market recently?
There has been a marked increase in activity since the start of the year, with schemes like Funding for Lending and Help to Buy meaning people are talking about mortgages and property once more. This has led to more positive sentiment which has certainly filtered through into more enquiries and borrowers that want to buy.
As rates have dropped the Buy to Let and remortgage markets have also begun to move and it is pleasing to see a broad spectrum of activity once more rather than everything being concentrated in one area.
FR: What do you think the next 12 months holds for the mortgage market?
More of the same really. It will be interesting to see whether the second part of the Governments' Help To Buy scheme comes to fruition and what that looks like. I certainly see the general positivity continuing with more lenders looking to lend and competition increasing.
As intermediaries, in a market where there is still a reduced number of brokers and direct branch activity struggles to take any uplift in volume, we are all uniquely placed to have a good couple of years. Those that really succeed will be the ones who embrace the new environment, adapt to technology and build on the recent growth in a sensible and sustainable way.
FR: What have been some of Coreco’s key milestones over the past couple of years?
It is easy to forget that we formed in April 2009 when everything was at its lowest ebb and the world was going crazy. Staying focussed and committed to our aims and ideals is very important to us, so being able to celebrate our 4th birthday earlier this year with a company of around 35 people, when we started with just 8 of us, is a great achievement.
Looking around our office now we have a great team of people who mean the world to us and we aim to continue running things our way, being open, honest and fair with our staff. Every time I walk in to our offices I am immensely proud of what we have built and excited by where we are going. Coreco is something deeply personal to us all.
Being recognised by the Mayor of London for our Apprenticeship Scheme was also a huge milestone. We are immensely proud of our apprentices and to be shortlisted in the London Apprenticeship Awards and then named as a Top 100 employer in the UK for Apprenticeships was a striking achievement. I would urge all companies in our industry to give these young people a chance as it is very rewarding.
Also winning the Best Broker for Technology Award earlier in the year was a vindication of the forward thinking way we are building our business.
FR: How important is the relationship between Coreco and lenders?
Lenders are absolutely key to our business and we are lucky to have a good relationship with all of the lenders we work with. I have always been impressed with the quality and professionalism of those who work on the intermediary side of lending and there are many who I really enjoy spending time with.
Brokers need to understand that these people are fighting the intermediary cause within their organisations and we need to work together more for the wider good of the industry, which will not just benefit us all, but more importantly our clients.
FR: What sets you apart from your competitors?
Attitude mainly. We run our business in a non-traditional manner, with six of us having a say round the table, although the day-to-day drive of the business comes from Matt Lowndes our MD. This means all our ideas get picked apart and only the best, most thought out ones get through the process. Together we are a very strong group and we each have our area to develop and look after.
We have all worked for companies in the past where those at the top were less than open and we are determined to continue working in an open and honest manner with our staff and partners. This helps us to attract the right type of advisor into Coreco and our task is to keep them as happy as possible in great working environment. They project our brand better than anyone and it is them who really set us apart from the rest.
Technology is also a key part of everything we do which, in an industry where many are lagging behind, gives us an edge, whether it is the data we produce and analyse, our social media policies, website and the ease of our systems.
We are not afraid to think outside the box, especially in the way we market ourselves and as our many testimonials state, client satisfaction really is at the core of everything we do.
There is much more, but I don't want to give too much away!
FR: If you were in charge of the FCA for a day, what would you do?
I would commission a detailed register of all individual advisers in the UK, both intermediary and bank staff. This would really help further professionalise our great industry.
After 7 years at John Charcol and 8 years at Cobalt Capital, Andrew and four other colleagues decided the time was right to start their own company, rather than working for others.
In 2009 Andrew was therefore a joint founder of The Coreco Group where he is the Director responsible for Brand, Marketing and Communications as well as lender liaison.
Andrew continues to work at the coal face, writing mortgage business and looking after clients.
Andrew is a huge Liverpool supporter and still plays football at an extremely low level! He also plays the guitar, writes songs and is lead singer in a rock band.
