mortgage lending and a 22.1% market share, while in 2009 it lent £35bn of mortgages, taking a 24.1% market share.
NEW BUILD Wilson is keen to talk about where the lender’s strengths lie and one of the markets he’s most excited about this year is new build. In a show of support for this sector Halifax Intermediaries upped its loan to value on new build houses to 90% on a limited basis after much clamouring for such a move on the part of brokers. It may be limited to Barratts, Persimmon Homes and Taylor Wimpey and their subsidiaries and available via a limited distribution of brokers – but it is evidence that Wilson is listening to market need. “It’s a measured approach to extend
our presence in new build,” he explains. “And we do have plans to develop that further in the future. It’s a great example of lending that supports the market and the economy at the same time. If builders are building that impacts wider industries than just the mortgage market and that’s a good thing. “There’s an element in here that new build is now perceived to be lower risk than it has in the past. I think valuations are now perhaps more realistic than they may have been in that particular part of the market and we are taking very small steps to get deeper into it.”
BROKER SUPPORT Wilson tells me he is “passionate” about the broker market and contrary to historical reports that Lloyds Banking Group wanted to achieve a 50:50 direct to intermediary balance, he says the lender is happy with brokers taking anywhere between 55% and the 60% share they have currently. “We can’t hit our lending aspirations
“I can’t remember the last time we didn’t achieve what we set out to achieve. I want Halifax Intermediaries to be recognised as the best lender in the broker market. That’s my personal goal for this part of the business”
without the support of the broker market,” says Wilson seriously. “That’s obvious. And we can flex what we need to do through a variety of means and that includes lending done direct through our branches. I don’t think we’ll see a significant change in the balance of our lending though this year. We have a fixed cost in the branches and we have to support that part of the business of course – we’re on the high street.” How Wilson intends to support the
broker on the flipside is multifaceted. “We will continue to support the market with a selection of simple, easy to understand products,” he explains. “As the mainstream lender within the group, that will be the majority of our business. “We are trying to make it easier for
brokers to do business with us. We’ve made our communication simpler and we’ve made a lot of small changes to our underwriting processes. That was in large part down to the feedback we had from brokers – who I have to say generally give us a good write up for our service.” Improving the people Halifax Intermediaries has out in the market
seeing brokers face to face is also top of Wilson’s agenda. “We work tirelessly to make our BDMs better at what they do,” he says. “That’s my main driver – to improve the quality of our people. It’s a great commitment to brokers. The product transfer piece we bring to market is further evidence of that commitment. There’s nobody else in the market who pays brokers a proc fee for transferring existing borrowers onto another Halifax product. I still think that some brokers don’t take advantage of that.”
WHY NOT? “There’s a lot of opportunity in brokers’ back books that isn’t being exploited,” he says. “Some have great contact management systems that encourage them to go back to existing clients but it’s by no means the majority. That’s the same on the general insurance side as well. I think brokers should be getting closer to that client contact on an annual basis and make sure they’re reviewing their needs.” Wilson is driven and focused in our interview and it would seem that passion he has for the broker market is heartfelt. “I’m very competitive,” he tells
me, referring to his keen interest in playing golf (his handicap is 14) and acknowledging it’s a useful attribute in the workplace. “I don’t like losing. I don’t like not hitting any goals we have. I can’t remember the last time we didn’t achieve what we set out to achieve. I want Halifax Intermediaries to be recognised as the best lender in the broker market. That’s my personal goal for this part of the business.” Whether he hits this particular goal this year is down to you but if his obvious passion is any indication of his ability to deliver, it may just be a case of watch this space.
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