"Buy-to-let comes with an additional layer of complexity compared to the residential market and this offers opportunities for brokers."
- Jane Simpson
FR: Can you tell us about your industry experience prior to joining Paragon?
Sally: I’ve worked in mortgages for many years after being attracted to it while working as a cashier. I started out as an adviser before moving into underwriting and then working in mortgage packaging. I’ve focused on the sales sides of things for the last 17 years, with management roles for companies such as OSB and Vida Home Loans and before joining Paragon I was head of national accounts at Hampshire Trust Bank.
This varied experience and the knowledge I’ve gained during my time in the industry is definitely something that I’m planning on bringing to my role at Paragon.
Jane: Similar to Sally, I’ve worked in the industry for a number of years and have lots of experience that I’ve gained by holding different roles focused on mortgages. We’re different, however, in that this has mainly been at one firm, TBMC, which is where I worked my way up to managing director before joining Paragon.
FR: Now a few months into your new role at Paragon, how are you finding it?
Sally: While it’s a new role for both Jane and I, it’s also a new role for Paragon and that’s really exciting as we have a genuine opportunity to shape it. It helps that we’ve been met with real enthusiasm, with our new colleagues at Paragon and the people from partner organisations so open to working with us and exploring new ideas.
It’s also been great to reconnect with Louisa Sedgwick, commercial director for Paragon’s mortgages division, who I’ve worked with in the past. Alongside Richard Rowntree, who has made a name for himself as one of the industry’s top managing directors, we’ve got the support of a really strong leadership team.
Jane: TBMC was a master broker and mortgage packager, so I have experience of working with lenders and national account managers, just from the other side, but this has helped me hit the ground running.
Having worked with Paragon quite a lot during my 18 years at TBMC, I have a good grasp of what they do but since starting in the NAM role I’ve found that there’s some misconceptions about their criteria. Paragon do more than some may realise, like lending to newer entrants to the market or those with smaller portfolios.
FR: So, what are you going to be working on after settling in?
Jane: Following on from what I said about some misconceptions around what Paragon does, a really important part of the role, at least initially, is working closely with mortgage networks and clubs so brokers are aware of all of the cases that they can come to Paragon with. Paragon has a brilliant reputation amongst the brokers that know us, so we want to show a wider audience why, utilising networks and clubs to share what we do.
It sounds simple and that’s because it is in a way, but it’s not just a case of sending out some emails and sitting back, waiting for the business to come in; we’re placing a real emphasis on being proactive in building mutually beneficial relationships. Doing this will help us to work with brokers to show them what sets up apart from the rest of the market while finding out how we can best support them to find solutions for their clients.
Sally: We’ll also be working closely with the team of regional sales mangers. Although national sales manager, Jason Wilde, has successfully motivated his team for a number of years, he recognised that his team only have a finite amount of time to promote the Paragon brand. Through our work with mortgage networks and clubs, Jane and I can support his team to ensure they broaden their reach with members who work in their postal code areas.
FR: Are there any areas that you think brokers should focus on in the current market?
Sally: I can definitely see a benefit to brokers in focusing on specialist lending. This may be working on incorporation or limited company cases or helping landlords secure finance for property types that can be more complex such as HMOs and multi-unit blocks.
Diversifying in this way can offer additional revenue streams which could be particularly useful for those brokers who have been taking on lots of product transfer business, something we’ve seen a significant shift towards over the past year or so and we know doesn’t always deliver the return on the time and effort invested.
We know that these are aspects of lending that some brokers may not be too familiar with but, being areas that Paragon specialises in, we’ve got lots of knowledge that we can share, something we’re working to do through our partnerships with networks and clubs.
Jane: I think that buy-to-let may offer more opportunities than some brokers may realise. I say this because I know some view buy-to-let applications in isolation, as one-offs, but many landlords plan to grow their portfolios, providing potential for repeat business.
Buy-to-let comes with an additional layer of complexity compared to the residential market and this offers opportunities for brokers. This is because those that expand their buy-to-let knowledge, understanding things like the regulatory landscape and lending nuances put themselves in a position of being able to build relationships with landlords and support their long-term business strategies.
