Visionary Finance was founded in Milton Keynes in 2008 as a completely fee-free brokerage for UK clients directly authorised by the Financial Conduct Authority.
We specialise in all aspects of mortgages including first-time buyer, shared ownership, residential mortgages, BTL, portfolio landlord mortgages, bridging finance and lending for international/ex-pat clients.
We have a dedicated and customer-centric focus that has enabled us to prioritise the client’s needs first every time. This approach has proven extremely successful and has resulted in incredible business growth over the last three years.
Over the next 12 months, a key focus for the business is to develop and grow the team as well as continue to provide exceptional service for clients.
Where are you based and where do you operate geographically?
Visionary Finance is based in Milton Keynes and has a global network of clients. We have strong relationships with many new build developers, international wealth managers, and sales agents across the world.
What are the main issues impacting your local market?
One of the key issues facing the local market is the supply of property, which is a common problem in the wider UK market as a whole. Simply put, we need more homes.
Another issue is construction and handover delays which can put mortgage offers at risk and prove costly if clients need to move into rental accommodation. It can also cause significant emotional and financial stress for clients.
What challenges are you facing as a broker?
Currently, customer affordability due to the increase in the cost of living is a major challenge industry wide as rising costs are forcing many people to tighten their belts and brace for further increases.
The timescale for product withdrawal is also proving to be a major challenge as back-to-back rate rises have forced lenders to drastically reduce the time products are available and withdraw them from the market far quicker than previously.
Another issue is lender underwriting timescales which have risen since the start of the pandemic.
What are the main opportunities for brokers in your area and nationally?
The volume of new build developments coming up is a major opportunity for brokers as it addresses the supply issue by providing more housing options for prospective buyers.
Another opportunity for brokers is adopting a more holistic approach to advice by educating first-time buyers and homeowners on how they can become more prudent due to the cost of living concerns.
What could lenders do to help further your business?
One major issue facing the industry is a lack of underwriting consistency, which has become really noticeable in the last six to nine months. We are increasingly seeing each lender’s approach to underwriting differ based on which underwriter within the business has picked up the case. This happens across both the mainstream and specialist lending sector and it becomes increasingly frustrating for our consultants to manage client expectations.
Another huge benefit to the mortgage industry would be to consider increasing timescales for product withdrawal when a client already has an agreement in principle confirmed, particularly in the current climate when the shelf life of products is much lower.
What sets you apart from the competition?
We offer a truly fee-free service to our UK clients with no hidden mortgage brokerage fees. Our priorities lie with our clients and sourcing the best possible mortgage to suit their individual circumstances.
We achieve this by having a highly experienced and dedicated team of mortgage advisers that work with vanilla as well as complex mortgage requirements including international and ex-pat clients. We also effectively manage client expectations and ensure they are regularly updated on the status of their application.