Cover
Falling short of expectations
Another year another end of term report. Mortgageforce’s managing director Kevin Duffy casts a critical eye over the industry and fi nds out whether the mortgage industry’s pupils have exceeded expectations
Let’s get this straight. This can only ever be a relatively subjective exercise. Even if Mortgageforce had 1,000 brokers nationwide as opposed to the 100 it does have there will forever be regional and service-centre variations within any assessment so certain lenders will therefore need to be composed in their responses. As a gesture of fairness though I would
invite their direct feedback which will be as welcome as it was at mid-term when some executives including Aldermore’s residential mortgage managing director Charles Haresnape got in touch to explore a route to a higher grade which has since been achieved. A few further caveats if I can. Thirteen
years of Labour rule left us with an education system where grades have been shockingly dumbed-down in the pursuit of topping spurious league tables. In my day a C grade was a decent award, and so it should be considered here. It’s also worth noting that any lender featured here has been active enough to merit inclusion. In many respects this report card
actually compliments those who were brave enough to support the industry in 2011 and our collective thanks should go to them. So without further ado, here we go for the class of 2011.
A IS FOR TWO CLASS ACTS, ABBEY AND ALDERMORE
Aldermore’s forays into high loan to value lending drew some pathetic broadsheet arrows from journalists and politicians. Yet unlike other specialist pretenders, it not only offers genuine access to underwriters but cases actually do get agreed thereafter. Grade: A-
pupil and has become the Barca of its generation. Systems, service, underwriting and products make for an adeptly balanced scorecard but it’s the people there who really set it apart. The charismatic managing director Miguel Sard sets the tone and it’s carried right through to Lynsey Mitchell who may be the industry’s foremost sales manager. “Mejorandose nunca paradas,” is the Iberian war cry into 2012. “Getting better never stops,” is certainly going to set the bar high for other lenders… but can Abbey stay there? Grade: A+
B IS FOR BM SOLUTIONS AND BRIGHTSTAR
Abbey for Intermediaries is the year’s star
BM’s grade is stll enviable but it has become the girl next door with striking features but alas, too inhibited. It needs to cut loose, get the lipstick on and the
mortgage introducer DECEMBER 2011 27
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