The Intermediary catches up with the Later Life Lending Awards 2022 Best Underwriter winner Pat Leese of Standard Life Home Finance. Standard Life Home Finance was the Headline Sponsor for the inaugural event.
Congratulations on winning Best Underwriter at the Later Life Lending Awards, how important is getting this recognition to you?
Recognition is always nice, everyone at Standard Life Home Finance has worked incredibly hard this year with it being the first year for the business so for us to be recognised is great.
I couldn’t do what I do without numerous other people so for me personally it’s good to have been recognised but also good for the business to be noticed.
What do you think sets your business apart from others in the field?
The people that work for Standard Life Home Finance set it apart. Passionate, driven, hard-working people who care about the customers and who are experts in their jobs.
How important is it to recognise achievement in the sector?
To be recognised as an underwriter is very important as we are usually found lurking in the background and get a bad reputation with regards to declining cases.
I always try and get as many cases as possible through the underwriting process and push borderline cases that could go either way as far as I can to try and get positive outcomes.
Looking ahead how do you see the next 12 months playing out for the later life market?
It is going to be a tough economic climate for a couple of years, so I’d expect needs based lending to grow.
I’d also expect that lifetime mortgage will continue to be in demand, as modern lifetime mortgages offer complete repayment flexibility for anyone who is perhaps struggling to repay a residential mortgage and who doesn’t want to downsize.
What advice would you give to someone looking to join the market?
Go for it, I’ve been working in ER for four-five years now and it’s the best decision I made to switch from residential mortgages.
You’ll find committed, passionate and knowledgeable people and the work is challenging but very rewarding.
How do you rate your chances of defending your win next year?
I will just keep on doing what I do. Working hard, trying to broaden my knowledge and pushing to change risk appetites and criteria to try and get as many cases as possible to offer.
