The Interview… Tim Parkes and Ben Nichols, RAW Capital Partners

There’s an awful lot of overlap between my leadership style and Tim’s, which is why this is very much an evolution rather than a revolution. The change at the top provides stability inside the business so that we can provide stability outside the business, to the people we want to serve. 

What has been the most challenging aspect of leading RAW, and how did you approach those challenges? 

TP: The most challenging aspects have tended to come from shifts in the market. COVID was the first big shift for us. When everyone started working from home, it was a huge disruption for the market, but we’d already set up remote working, so we hardly skipped a beat. We went home and carried on pretty much as normal. 

Then, after 15 years of very low interest rates, we’ve had three years of higher rates. That has changed the dynamics of the competition – new players have come into the market and others have left. You also have periods when the housing market is tough, and times like now when there are wider macroeconomic pressures. 

The way we’ve approached those challenges is by seeing change as an opportunity, being determined to get things done and lending sensibly even when conditions are difficult. You always have challenges in the business and in the market; how you overcome them – and the speed with which you execute – makes the difference. 

What will your advisor role involve, and how do you plan to support Ben and the wider team going forward? 

TP: It’s partly about guiding the team with the benefit of experience. I’ve been around for 40 years in the workplace, so I’m a bit longer in the tooth than some of the team. You reflect on that experience – there are lessons from the past, from periods when interest rates have risen and fallen again, and when markets and the housing market have been tough. It’s about lending an ear when there are challenges.  

What are your immediate priorities as you step into this new role? 

BN: The immediate priorities are dealing with some of the broader challenges we see in the market. We’re living through interesting times in terms of macroeconomic challenges and the challenges raised by conflict in Eastern Europe and the Middle East. Closer to home, there’s the Renters’ Rights Act and the impact that’s potentially going to have on the private rental sector. 

My focus is on making sure the business can meet the needs of customers throughout this period of transition, and to be adaptable and flexible to what the market needs in those changing circumstances. 

How will you build on the foundation laid by Tim and the team over the past decade? 

BN: Ultimately, it’s about doing more of what we’ve done well. You can see that in how we’ve responded to recent volatility, where swap rates have been quite volatile and other lenders have pulled in and out of the market or withdrawn deals. We’ve been very steady and very consistent. That’s what we want to present to the market in the longer term: a consistent face, a consistent product and a high level of service. That’s how I’ll build on those foundations. 

What are the key opportunities and challenges you foresee for RAW in the coming months and years? 

BN: The UK Government clearly has some difficult decisions to make, both in terms of how it deals with the challenges in the housing sector and the political challenges it faces, as we’ve seen recently in local council elections. There’s a tightrope to walk, and we’re keeping a very watchful eye on the impact that’s going to have on the private rental sector, because that’s our lifeblood as a business. 

At the same time, changes in the interest rate environment and in the competitive landscape create both challenges and opportunities. As Tim mentioned, when others pull back from the market, it can create space for us to serve a broader range of borrowers. The key for us is to navigate those policy and market shifts in a way that keeps the sector thriving and continues to support a really important segment of the UK’s young workforce with homes to live in.