"It’s important that advisers help their clients to navigate the changing market and make the most of those opportunities as and when they present themselves."
FR: Recent house price data is showing strong growth in Scotland – what is the reason for this and do you see this trend continuing?
It is absolutely true that there has been strong growth. Residential sales between April and June rose 4.9% year-on-year, with Edinburgh especially strong seeing an 8.6% jump during the same period.
A fall in unemployment and a steady economy has, perhaps, fuelled consumer confidence. Aberdeen was one of the only areas to witness a drop in sales compared to last year. Hopefully as the oil and gas industry recovers, the housing market in Aberdeen will too.
I expect the market to continue to be strong in the central belt of Scotland. However, areas in the north may take more time to recover.
FR: What are the biggest issues facing the mortgage market in the current economic environment, and what should advisers be aware of when dealing with clients?
In my opinion, the uncertainty caused by the recent Brexit vote will be the biggest issue. There was a certain amount of panic among some initially, and while that seems to have calmed down of late, we could easily see a return to that as we get closer to the time when we need to invoke Article 50.
Whenever there is uncertainty, there are opportunities for brave buyers. It’s important that advisers help their clients to navigate the changing market and make the most of those opportunities as and when they present themselves.
FR: What advice would you give to brokers who are new to the specialist lending market?
I believe having access to as many lenders as possible is key.
It must be a great time to be a broker with so many lenders offering so much choice. It’s also important to work with firms who can demonstrate real expertise - for example, if you want to place business in Scotland, it makes sense to look to lenders with a real presence and dedicated staff there, like LendInvest.
FR: How important is technology to the bridging market?
Investing in the right technology is vital and most lenders are doing this. Many offer online applications and almost instantaneous decisions. Speed is critical when offering bridging finance, so lenders that incorporate the right technology to improve speed and service will always appeal to brokers and their clients.
FR: If you could see any headline about financial services in 2016, what would it be?
I’ve always been an optimist, so I’d love to read a positive headline! Ideally something along the lines of “UK economy and property market prosper post-Brexit”.
