Tell us a little bit about your career and how you ended up at KSEYE.
My financial services career began in fund/asset management working in the administrative team at Old Mutual Asset Managers. I worked there for 12 years and progressed to become a business development manager (BDM), before moving into property lending when I joined Castle Trust after redundancy.
Initially, my role at Castle Trust focused on the investment side of the business. However, the concept of tracking the housing market for investment purposes and then using that money to fund mortgages didn’t quite work out. At that point, I was drafted onto the mortgage side of the business to help get that moving and the rest is now history.
After Castle Trust, I spent over three years at Hampshire Trust Bank during its growth phase, before joining KSEYE as sales and marketing director in October 2023. In my current role, I am responsible for managing a team to grow broker relationships to a point where KSEYE is on the radar of all brokers when it comes to bridging lenders they can trust.
What differentiates KSEYE from other specialist bridging lenders?
In terms of our proposition, KSEYE has access to diverse funding lines, which means we have a broader appetite for risk than lenders with funding from just one or two sources and enables us to look at cases other lenders may not be able to.
Instead of solely relying on external counsel, we also have our own in-house legal team to help us overcome any potential issues as early as possible, and this helps us to speed up the more complex cases. Although the legal side of property lending is often overlooked, it is a crucial part of the lending process, particularly in bridging, so having an in-house team gives us the edge over our peers.
Another thing that makes us stand out from the crowd is that we provide upfront certainty at speed as all of the terms we issue are underwritten or validated by our credit committee within hours. Those terms will not change unless something material changes with a case, so brokers can have confidence that when we say we will do something, we will do it.
What’s your view on the current market conditions and challenges facing brokers?
There is still a lot of uncertainty around and this changing environment can make it difficult for brokers to manage their clients’ expectations.
This is particularly true when it comes to transaction times and any delays that may occur during the conveyancing process, therefore, working with a lender that is trustworthy and adaptable is vital.
In the current climate especially, one of the biggest barriers to success is sticking to old habits and the usual array of lenders. There are so many options out there for clients, including lenders that many brokers may not have considered previously. Being open-minded and exploring new opportunities will ensure they don’t miss out on the right solution for their clients and also enable them to tap into new sources of revenue.
What does the future hold for the bridging market over the next 12 months?
Although the UK economy technically slipped into recession at the end of 2023, it does feel like the market has weathered the worst and there is light on the horizon.
Professional property investors are always active, but we are starting to see more mid-tier investors consider buying opportunities ahead of a future upturn and in 12 months’ time, I think we will see a lot more purchase activity and liquidity in the market overall.
There is also a wealth of untapped potential in the bridging market that many brokers still haven’t engaged with, either directly with lenders or through specialist distributors, so there is an opportunity for brokers to access an additional revenue stream.
As the market continues to grow in size and reputation, we expect more brokers to pay attention to how they can use bridging for their clients, which will provide the sector with even greater growth.
What key piece of advice would you give to brokers both familiar and unfamiliar with the bridging process?
The biggest tip is to always let the lender know the full details of a case, including any potential issues, from the outset. This really does help us to make fast, informed decisions and makes the loan process smoother as it progresses.
I’d also suggest that brokers make full use of their BDMs as they are there to help them put together the right solution for their clients and will update them as a case progresses. Never think twice about getting in touch, they will always be at the end of the phone if you need them.
