Lockdown Question Time
What has been the biggest challenge so far?
- Initially seeing the market that we trade in go through so much upheaval and be forced to take backward steps with the business, plus having to let some clients down (for now at least). Having to make tough decisions for the good of the business as a result of these hard-hitting changes. Seeing advisers and clients being hampered by the market, as well as case managers being weighted down by so many case requirements and COVID questionnaires. I also think it’s very hard to keep everyone buoyant and their mental health in good shape, but the team has all done incredibly well-considering everything.
What are you most proud of during lockdown?
- I’m very proud of our team, to keep writing business when the odds are stacked against us is incredible. Completing 33 cases in a day at the start of May was a highlight for the business, being agile enough to switch the model to writing business which helps our landlords and keeps the wheels turning. Seeing how the team have pulled together in pursuit of client goals, knuckled down, got on with it and adapted so well makes me proud. It’s also given us a chance as a business to incept some future potential expansion plans and also ‘sharpen our pencils’ across the board digitally.
In respect of how lenders/conveyancers have adapted policies and/or procedures during COVID, which changes have most assisted your clients’ journey, and which would you hope lenders retain post lockdown
- For the most part, the mortgage community has displayed resilience and spirit that we should all be proud of, sharing ideas, problems and solutions. I have enjoyed the weekly conversations with our peers, both with our industry leaders and with our friends and colleagues at the various lenders/conveyancers, and the perceptible desire to support each other has been wonderful. Indeed, our key industry relationships have been invaluable in such difficult times.
What are you missing the most?
- The galvanic atmosphere of the office, and being able to provide the level of support to the team that is sometimes challenging to provide remotely.
What has been the biggest positive so far?
- Remaining positive and happy, and helping out others where I can – for example dropping off shopping to people who cannot get out. The only time knocking on a door and running away is acceptable.
Which lender has impressed you most during Lockdown?
- BM Solutions – the cases I’ve worked on have all had successful desktop valuations – and have been offered in a matter of days!
Which mortgage mate do you miss the most?
- Dolly for the lunchtime walks, oh and Fiona telling everyone to get out of the shared spreadsheets!
What is your best tip for landlords right now?
- Don’t apply for a mortgage holiday unless you absolutely have to and you are aware of the full picture in respect of the potential implications. We are seeing many landlords looking for refinance (especially when there is capital raising involved) being declined due to applying for payment holidays on background mortgages.
With the common consensus that property prices will decrease over the next year or so, this would be an opportune time to increase your portfolio with property at reduced prices. The last thing you need is to be declined for a mortgage based on a mortgage holiday you didn’t necessarily need.
In a COVID free world, what would be the first thing that you would do?
- Have a jam! I’ve not properly strummed a guitar in anger since the lockdown (although the wife has banned me from playing indoors, apparently its tantamount to noise pollution).
What is your best tip for landlords right now?
- Wait for the right deal – but when you’ve found it, act swiftly and get the application in!
What are you missing the most?
- The camaraderie of the office.
Which lender has impressed you most during Lockdown?
- Paragon – a lender that truly understands the BTL market and was quick to change to AVMs/desktop valuations without compromising their proposition too greatly.
What has been the biggest positive so far?
- Family time at home and daily walks in the fresh air and sunshine.
Which mortgage mate do you miss the most?
- Everyone for different reasons…some more than others lol ?
In a COVID free world, what would be the first thing that you would do?
- Have my roots done and my hair cut.
If you could teleport anywhere right now, where would you go?
- To the Lake District to see my bestie, and we’d go hiking and wild swimming like normal.
What are you missing the most?
- All of the office banter, seeing friends at weekends and definitely going out for food. When Lockdown is over, the hairdressers can wait, I will be hitting the restaurants first.
What has been the biggest challenge so far?
- Predicting how the market will react. I rely heavily on data to try and make the best-informed decisions for the team and forecast trends before they arise but this is like nothing we have ever seen before.
Which TV show have you binged on in the last few weeks?
- The American Office – it has also given me some fun ideas for when we get back into our own office!
What has been the biggest positive so far?
- Having the ability to work from home and keep my family safe and happy.
What have you enjoyed most about working from home?
- It has saved me a few pounds in petrol, I might have to invest in a bike with the money saved.
We can’t wait to have everyone back in the office but for now, we will continue to offer contactless advice and support for wherever you are.
Discuss All Of Your Options Right Now
If you need any advice on how to protect your portfolio during these uncertain times, we’re here to help. With expert advice, you can be confident that you get the best deals at the right time. You can speak to one of our mortgage advisors today, by calling us on 08009499410 or to make it even easier, if you let us know the best way to contact you below, we will respond as soon as possible.
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