"Brokers have done a heroic job of supporting their clients in an ever-moving market place and managing their expectations in these unprecedented times."
FR: Tell us about your role at the Tipton.
I present our criteria, products and packaging to brokers in my area and support them with their cases throughout the process from initial enquiry to completion. As we’ve not had a BDM covering most of my area before currently many of the brokers I speak to haven’t used us before and are often surprised and impressed by some of the quirky products we offer such as the Family Assist range.
FR: As a BDM at the Tipton, how has life changed since the outbreak of Covid-19 and what does a 'typical day' now look like for you?
Fortunately for me I joined Tipton after being a telephone BDM at another lender so I’m used to talking with brokers on the phone rather than in person. In some ways it’s made things a little easier for me as I can book in appointments on the same day with brokers all over my area without having to worry about how long it’ll take me to travel to each of them but I’m really looking forward to being able to follow up these initial positive conversations in person over the coming months. I start my day by responding to the enquiries I’ve received overnight then much of my day is spent in phone or video appointments with brokers and answering case questions as they come in. I always leave some time at the end of each day so I can always respond to enquiries on the same day.
FR: What has been the reaction of brokers to the way lenders have responded to the pandemic?
Brokers have done a heroic job of supporting their clients in an ever-moving market place and managing their expectations in these unprecedented times. Many have been frustrated by the blanket rules lenders have put in place that have unfairly impacted some clients such as the LTV restrictions on self-employed lending etc. which have lead to many of them using lenders like Tipton, perhaps for the first time, as we manually underwrite and can provide more flexibility.
FR: What will the lending market look like over the next 12 months?
We saw a huge increase in business with the stamp duty discount and the momentum doesn’t seem to be slowing. At the Tipton we received our highest ever number of applications in March. The reintroduction of 95% mortgages will allow more buyers to get on the ladder. Hopefully as the impact of Covid lessens there’ll be an increase in job security so clients in badly hit industries such as travel and beauty will be able to get back to work and able to borrow. Covid encouraged many brokers that would otherwise use high street lenders to begin using smaller building societies and challenger banks due to the flexibility we can provide, I hope these new relationships continue.
FR: If you could see one headline about financial services in 2021, what would it be?
It would be fantastic to read that the number of women in senior management positions within the financial services sector was at a record high.