Know Your BDM: John Steel, West One Loans

Today Professional Loaning Solutions is speaking to John Steel, service development manager for Northern Britain at West One Loans

The number of consultants and broker firms do you cover in your role?I’m currently working

with around 80 brokerages, representing in the region of 200 consultants. That’s just the start– I cover all of northern Britain, so I’m growing that all the time.How do you successfully arrange and deal with service on a day-to-day basis?We’re an individuals company, and bridging in particular is a

time-sensitive company. So the most crucial thing for me is to be as available to brokers as possible. As quickly as I’m out of a meeting, I’m inspecting in with messages and emails, and getting back to people straightaway. My brokers shouldn’t need to wait half a day for me to get back to them.What concerns turn up time and time again?On second charge lending it’s normally since the customer’s scenarios are just a little different– be it because they are self-employed, a foreign national, and even if they have just a minor piece of credit problems. For bridging, it’s often a result of the property not meeting the required requirements. Un-mortgageable homes are a particularly common theme.Within bridging, one practical problem that shows up often– more than we as the lender, the broker and the client would like– is the solicitor. They typically don’t work to the tight timeframe we require.Regularly, the client will engage a conveyancing lawyer who isn’t experienced in bridging and merely doesn’t operate at the pace that’s required when you may have a matter of days to complete.That’s among the biggest barriers and we suggest that customers look for a solicitor who has actually done lots of bridging, especially if time is of the essence for them.What do you wish brokers understood about your job?The flexibility of

expert financing. This is most true of the bridging and second charge home loan lending. If you believe that bridging is simply for broken residential or commercial property chains, you ‘d miss 85 %of the market.In the

last 10 years, it’s home experts who have driven market development, as they have increasingly used it to fund residential or commercial property projects where either standard buy-to-let or basic development finance do not fit.What do you believe is the most essential characteristic of a good BDM?Being accessible and responsive. As I discussed earlier, being

readily available can be vital for a few of the deals I deal with, and it is essential for developing relied on relationships.When you’re unavailable to be contacted by telephone, exactly what’s the second-best method for brokers to obtain in touch?Email. I always check my voicemails then emails as

quickly as I’ve finished a meeting or visit, so I ‘d get back to anybody who ‘d called me as quickly as possible.If you were head of the FCA for the day, what would you alter about guideline in the home mortgage industry?Regulation has been an excellent thing in general. In second charge home loans, having the

Home Mortgage Credit Directive (MCD) position us on the very same footing as main home loan financing has definitely been a favorable relocation in the enhancement of the image of protected lending.I expect, if anything, it would be to guarantee that the guidelines are implemented, to ensure that brokers are considering 2nd charges when a client wishes to raise capital. That, in turn, would ensure optimal client outcomes.What was your motivation for selecting company advancement as a career?I’ve been an adviser in a high street bank and there I came across a great deal of struggles getting cases agreed and through. Being on this side of the fence and particularly in a service development role put me in a position where I can influence that more deeply. I like fixing other individuals’s issues and I’m an individuals individual, which is absolutely at the heart of service development.How do you establish and keep an excellent relationship with brokers?Walk a mile in their shoes– or a minimum of keep mentally putting myself in their position. This means comprehending the pressures and demands that they’re

facing, so I can understand where the pain-points are that I can get at.Anyone can take their brokers out for a beer or whatever, however actually getting to comprehend them is what makes the very best relationships since it constructs mutual trust.And how do you establish and keep great relationships internally?Positivity is the main point that my coworkers have informed me. I do see the advantages crazes and I prefer to think that I bring energy to my work and to the rest

of the West One team.A positive mental attitude is undoubtedly truly essential to be successful in an organisation advancement environment, but I likewise feel it’s truly assisted me with internal relationships.What’s the strangest question you’ve ever been asked?Why do not Head and Shoulders make a body wash called Knees and Toes?And lastly, exactly what did you wish to be growing up?An installed policemans.