FR: Secured lending has been going from strength to strength recently and has broken several lending records – why do you think this is?
Consumer confidence, more stable property market, lenders willing to lend, availability of funding have all contributed. However, and without wishing to be negative, we are coming from a very low base and are a long way off getting close to the monthly lending that was being done in the 2005-2008 period.
FR: What have been some of your company's key milestones over the past couple of years?
Having been a privately owned and funded company for well over 30 years, undoubtedly the biggest milestone was being bought by OneSavings Bank in September 2012. We then re-launched Prestige with a brand new range of products in March of this year. Since then, it’s been an exciting period as we increase our lending volumes and continue to grow as a Prime lender having previously specialised in the non-prime market.
FR: What does 2013 hold for you, and what do you foresee for secured lending?
Continued growth both for us and the market in general. With the support of OneSavings, we have already enhanced our criteria on two occasions since our re-launch in April and will continue to do what we can to support our intermediary partners in the future by offering enhanced plans at competitive rates.
FR: What challenges do you feel are most affecting brokers in the current market?
The main challenges to brokers in the current market are twofold; generating leads and conversions. In the future it will be regulation.
FR: If you weren’t in the financial services industry, what would you be doing?
Given my retail background, I would imagine I would still be in the retail sector either working in a senior role at Marks and Spencer or in some sort of personnel/HR role encouraging young people to come into a sector that unfortunately has been somewhat de-valued over the last two decades. Providing good service and communicating in whatever industry has always been at the centre of what I believe in and the future is our youth and giving them opportunities even if they may not have the seemingly required qualifications.
