POWER LIST

Luke Curtis Director at VAST Commercial Finance

Two clients were referred to Luke last year after they had got themselves in a situation during Covid. They had decided to convert the upper floors of one of their commercial properties into flats using bridging finance. Unfortunately, the pandemic and their limited development experience put them in an urgent scenario where they needed additional funds but could not get them from their current lender. While taking out the bridging provider and raising the additional capital would be the obvious option, Luke understood the larger loan would incur a higher fee and the rates at that time were much steeper than the original loan. In addition, an exit onto a term loan would be more difficult based on a larger transaction. By asking about the clients’ wider portfolio, Luke found they had an unencumbered office block they were getting valued to sell. Luke analysed 16 different quotes and scenarios, including the bigger bridging loan, second-charge bridging finance, and a smaller bridge on the unencumbered property, before settling on using the unencumbered property to raise the cash they needed at the best price. As the building had no EPCs, Luke also arranged two quotes to get these done in time for completion. While a rising rate environment means time is of the essence, the clients’ professional and personal lives (plus needing four people to make a decision) meant they were not always able to act as fast as full-time property professionals. However, Luke worked with the lender to keep the rate as close as possible to the original quote throughout the period. At £200,000, this was Luke’s smallest bridging loan to date, but one that he spent the most time on due to the importance of supporting his clients throughout the process.

Nick Baker

Chief commercial officer at Allica Bank

Nick’s passion, energy, and commitment to deliver for clients and introducers is said to be unmatched, and he has been one of the major driving forces behind Allica’s growth and delivery for clients over the past year. Nick doesn’t just listen to clients and introducer feedback, he proactively seeks it, ensuring it is never lost to a vacuum but always relentlessly actioned. This has helped Allica to quickly launch new lending features and adapt its appetite and credit levers, supporting in the process new borrowers to access funding that might not have otherwise been able to do so. Described as “one of the most approachable senior bankers you’ll meet”, Nick listens objectively and delivers when a task, challenge or problem arises.

Dan Narwal

Regional account manager for commercial finance at Together

It was on the day of completion when Dan’s customer had sold and moved out of his main residence, and was sitting outside the B&B he was purchasing and going to be living in, but the valuation had delayed the purchase: it was instructed on a residential basis, rather than a commercial one. Using his previous underwriting background, Dan was able to review the valuation they had been provided, have a detailed conversation with the underwriter about his findings within the report, and present a rationale as to why he thought it could proceed. Dan’s knowledge of underwriting and valuations—and his work keeping the solicitors constantly updated—were crucial in getting the case through in time.

Josh Knight Sales and marketing director at Octane Capital

Many of Josh’s brokers are used to dealing with mainstream lenders with long SLAs and unreactive points of contacts; his focus is always on breaking this mould. This means being as responsive and proactive as physically possible— often issuing indicative terms within 10 minutes—and ensuring enquiries are given the attention they require and are dealt with swiftly. Examples of this include when Josh personally drove to a client’s home to collect signed documents and deliver them to the solicitors to ensure a case would complete before a hard deadline, and when he arranged a valuation and AIP approval within two hours for a borrower who was looking for a new auction purchase. Two days before completion, the client’s solicitor noted they were missing documents. Due to the borrower’s work schedule, they were unable to deliver these directly to their solicitor, nor able to post them. Therefore, Josh arranged a suitable time to visit the client before hand-delivering the documents to the solicitors for completion to take place.

Stephanie Creasey Partner at Taylor Rose MW

Stephanie received a time-critical instruction on behalf of a client needing funds to refinance a portfolio comprising three commercial properties all sublet to commercial tenants, and the associated equity release. The instruction was received in the midst of Stephanie dealing with five other transactions all leading up to completion at the same time, and just prior to a period of annual leave. Within 36 hours of her return to the office, Stephanie completed full due diligence on the borrower company and reviewed all documentation received, raised additional queries with responses obtained, and prepared a total of nine reports on title for the entire portfolio—including lease and letting reports for each of the properties. All post-completion matters were dealt with in a timely manner, including registration of the security package, having obtained the required supporting consents for the third-party security.

Annaliese Melvin

Business development manager at Glenhawk

Annaliese was approached by an introducer who was managing the finance for a client undertaking a ground-up development project. The client had been let down by contractors and suppliers and had found themself in a corner with their existing funder, who was unwilling to release further equity to move the project forward. The borrower was subsequently facing forfeiture on timescales and equity for other schemes they also had in the pipeline. On day one, Annaliese made sure she understood exactly what stage the scheme was at, reviewed recent images, the schedule of works and timings, and planned out exactly when the asset should be valued, and the dates for refinance and required drawdowns. To complete the case, she contacted local valuers herself to provide instructions for the dates of inspection and handed over the file to an underwriter with as detailed a structure as possible.

Tom Lee Managing director at Pure Structured Finance

One lender said that Tom “epitomises what a fantastic broker and business leader looks like in 2023”. He works in partnership with lenders, finding ways to work together to overcome challenges in complex transactions.

When a new deal completes, he is said to be with that client throughout the term and on hand to work with lenders as needed. His retention of clients has shown the ability to complete deals and the belief they hold in him. One case last year that stood out was a development deal converting a derelict building into student accommodation.

When it completed ahead of schedule, the borrower hoped to retain the property and realise its full value as a long-term investment. Tom negotiated the restructuring of the development facility onto bridging finance, in the process aiding the lender to create a more flexible bridging facility, offering clients a different option to its standard loan terms. The framework of this facility was subsequently rolled out to other clients. Tom worked around obstacles to achieve the best outcome for his client, enabling them to release equity and secure their next site.

Adele Turton managing director at Blanc Property Finance

On multiple occasions, Adele’s ‘old school’ mentality of taking a whole life of facility approach and always being at the end of the phone to get deals over the line, has worked well in securing funding for her clients. Described by clients as “110% committed”—she is often known for her knowledge, wealth of experience, and offering last-minute ideas. In one scenario, Adele helped facilitate development finance for a client’s large HMO project. Here, she actively stayed in touch with all parties—ranging from the solicitors for the vendor and the borrower, to the builders to ensure they were in the best possible place with the build quote and subsequent project management. Her frequent contact with lenders, lawyers and tenants also saved one client from paying default interest rates. Defined as never having bias towards people who she deals with, this means that each scheme she works on wins—not just one individual within the process.

Matthew Stayt Partner and head of real estate at Fletcher Day

Matthew is said to be available day and night and described as a “credit to the industry”. One broker commented that he often proves his depth of knowledge and his ability to think outside the box and roll his sleeves up—even when it’s not his job to do so. A lender highlighted that Matthew made every single case he worked on for them like it was the only one he was dealing with—despite many in the industry working with him. His dedication has resulted in a number of cases being completed within days, which has been greatly appreciated by the industry.

Meir Peer Founder and managing director at Redi Finance

Meir regularly checks in on his cases pre and post funding and creates personal relationships with his clients. His attention to detail and customer service is described as “second to none”, and he received countless nominations for his dedication to pick up the phone and answer emails day or night to work around his clients’ schedules—rather than his normal working hours. One borrower—a start-up company that was finding it extremely difficult to obtain funding—commented that Meir went above and beyond to help them to reach their goals on time.

Kevin Duffin Finance broker at Propertyze

Ronnie Woods Head of unregulated underwriting at MT Finance

Since heading up the unregulated underwriting team, Ronnie has worked tirelessly to ensure the division delivers the best service possible to borrowers, brokers and industry partners. This includes regularly going the extra mile. A recent example of this is a case Ronnie was working on where the client was in Tenerife and, halfway through the process of undertaking a business purposes bridging loan, documents urgently needed to be signed and witnessed to ensure there was no delay. To help, Ronnie flew out to the island with very little notice to deliver the forms and act as a witness. Two days later, the lender was able to complete as planned. Although this doesn’t happen on a daily basis, this typifies Ronnie’s approach to doing whatever she can to guarantee that a case is successful. Her determination to consistently put the client first means she thinks outside of the box to find solutions that work best for the borrower. This focus on humanity is something that has been present throughout her career and has been integral to her success.

While the initial transaction of a bridging loan for a site acquisition last year was going ahead smoothly, the builder the client had lined up for the development decided to walk away from the project, near to when the loan was due to complete. This scuppered the bridging loan’s exit as the development finance was how the initial loan was to be exited. Rather than give up the transaction or force completion and then work out the exit, Kevin rang numerous contacts to get a builder who was available not only for the job, but also for a meeting over the weekend to discuss the site, plans and profits so completion could be achieved the following week. The client was eternally grateful for not only avoiding losing their deposit, but by the new contractor being willing to delay some of his profits to the end of the build in a JV-style agreement, in a bid to keep them on the contract, given what had just occurred with his previous builder.

James Palmer Associate director at LDN Finance

James is respected for his common-sense approach to lending and his relentless tenacious attitude which he maintains at all times—especially when the pressure is high. An example of which was when James was able to secure an £8.5m facility for an established, long-standing developer client who had identified a large single-unit property with planning permission for a circa 13,000 sq ft property with an estimated £15m GDV. The biggest complexity with this case was that the property was a large single unit outside of London. In this instance, James needed to provide the lender with comfort about the type of security and location; however, using extensive knowledge, experience of the market and assessment of the lending options available, James was able to approach a suitable lender who understood the high levels of demand for this type of asset and created a bespoke facility with key underwriters and lending professionals. James was also able to secure a competitive rate on a 24-month term comprising 20 months for construction and four months for the sale period. In addition, he got the personal guarantees removed and the early redemption fee waived. James’ dedication to positive client outcomes is not just restricted to the UK—he is currently working on a high-profile overseas application that has been progressing for over 18 months. In that time, he has been able to secure a highly complex development facility for over €11.6m against a St Tropez property worth in excess of €25.2m.

Leanne Ardron Head of bridging at LendInvest

Within her role, Leanne not only plays a core role as management and product expert, but has been a relentless advocate for the customer—both the broker and their client. Over the past year alone, Leanne has driven a number of projects to improve both the loan application and management process for LendInvest’s borrowers, and pitched innovative new products to adapt to a changing macro-economic environment. For example, Leanne led the launch of the lender’s new bridging portal, which is now seeing over 95% of new enquiries and applications being submitted directly, further streamlining the application and case management process. The portal connects directly with LendInvest’s online origination system that allows customers to manage and review existing applications, receive instant quotes, and transition between products with the benefit of a live dashboard reflecting the status of their case. Leanne has also been a huge advocate of promoting the use of AVM’s internally, which will improve accessibility and customer experience for borrowers. Consequently, this process launched officially in December 2022. Leanne also led the introduction of LendInvest’s stepped-rate bridging product, rewarding borrowers looking for even shorter-term finance. She supported this to help assist landlords looking to complete light refurbishments to increase rental yields, SME developers looking to generate additional capital, and investors looking for fast acquisitions before refinancing—further helping clients with more options.

Michael Stratton CEO and founder of MS Lending Group

Michael takes a pragmatic approach to new business and stretches the boundaries of his company’s lending criteria to help his clients. He is described as “relentless in trying to make things work for his customers” which has been at the forefront of every decision he has made within the business. For example, one client had been let down by another lender less than a week before completion of a new property purchase. To avoid losing the investment property they were looking to buy, Michael sent back terms and a list of underwriting points at 8pm on a Friday— the same day of the enquiry—with a desktop valuation carried out on the Monday, legals instructed, and a legal pack sent across to the client’s solicitors. Although the valuation came back slightly lower than the client was expecting, Michael had already looked at the client’s assets and took a reasonable approach to not lose any time. Consequently, he was able to provide £500,000 on a second charge in five working days, providing a seamless and stress-free service for the broker and client.

Adam Robson

Underwriting team leader for bridging at Mint Property Finance

When the loan of an overseas buyer hit an obstacle due to challenges in obtaining essential original ID and signed legal documentation, Adam jumped into his car, driving through the night to meet the buyer at Gatwick Airport, who had flown in to deliver and complete the necessary material. His dedication meant that the business was able to successfully complete the loan within the strict time parameters of the auction property sale, ensuring that the borrower’s purchase completed and avoided significant penalty fees. Not content with ensuring the success of the borrower’s loan and subsequent auction property purchase, Adam wanted to make sure the situation never arose again. Working with Mint’s senior management team, Adam instigated a new process to utilise the latest in technological software to deliver a new ID system. This has made it possible for borrowers to complete a loan wherever they are in the world.

Krisha Karunananthan Senior underwriter at Funding 365

Securing a BTL mortgage was taking longer than expected on a basement conversion project and, with the outstanding loan moving towards default, the client needed to find a different option and fast. Krisha worked quickly, issuing terms inside half an hour, and getting a valuer on site in less than 24 hours after the borrower sent the fees over. She had to include various exceptions due to the unique nature of the property. Overall, she found a solution that meant the client didn’t have to pay costly extension fees which they were grateful for. In another scenario, a client looking for a £1.5m refinance bridging loan was about to run over term and was worried about the heavy extension fees that were fast approaching. With the holidays just around the corner, getting a quick turnaround on valuations and legal undertakings was going to be tricky—especially given the fact that the valuation needed to cover three securities. Krisha worked into her evenings and always picked up the phone to the broker, valuer, and the legal team to get this over the line in time.

Jim Baker Sales director at Spring Finance

One client of Jim’s said he is always clear with what he can offer and support, and has not once let them down by going back on what he promises. This is supported by always being available and coming back promptly if not— even on the trickier cases. Jim cares about the relationships he has with his brokers and their clients and not letting them down. Brokers say that Jim’s genuine approach is what sets him apart from many others in this market—and he is quick to build trust with. He has also managed to lead by example and build a full team that gel well, have the same thinking and autonomy to make decisions, and are truly customer focused, with a real desire to get the deal done.

Liam Arnold Consultant at Finspace Group

A very experienced HNW landlord from London came to Liam looking for a bridging loan that was secured against three of their HMO properties. The loan was required to repay an existing bridging facility and restructure the properties into new SPVs created by the current group company. The transaction was made more difficult as the current lender was at the point of recovery due to the loan being over the term; a hard completion deadline within 14 days was required. The valuation of one of the properties was undervalued, making the loan impossible within the maximum 75% LTV generally available. As Liam didn’t have time to formally challenge the valuer after identifying the errors in the report, he built a robust argument as to why the lender should consider lending against a higher value. Consequently, the finance provider took a view on two historic valuations that confirmed the property was of a much higher value than their valuation report advised. The borrower was also overseas, so all documents had to be agreed and signed over video calls with documents posted back to the UK. Liam also organised for the funding line behind the lender to speak to the receivers to allow an extra day’s grace as the original documents from overseas had not arrived. The extension was agreed upon as a safety net, but was not needed in the end as the documents arrived on deadline day. Liam also didn’t forget the material facts of the deal: it was a complicated transaction as the client recently joined the company as a director/shareholder and was buying out old shareholders that accrued the debt. The properties were transferred into new SPVs as part of the transaction, which meant it wasn’t set up as a purchase, and minimal stamp duty was payable—which was six figures. Other brokers had failed to accommodate this point. Liam got the loan completed within the deadline and saved the client from repossession.

Rebecca Nutt Director of portfolio management at Atelier

As a qualified surveyor and project monitor, Rebecca serves as Atelier’s eyes and ears on the schemes it finances, but she is also central to the extensive support, guidance and expertise it offers to every single borrower throughout their project. Her calm professionalism is highly prized, even by experienced developers, invariably earning their trust and respect. The proof of this is when repeat borrowers ask for her by name. For them, having Rebecca on their team is a key reason for coming back to Atelier time and again. She doesn’t just manage loans on behalf of Atelier, she also helps developers manage their schemes. So while on the one hand she coordinates experts from across Atelier to make the loan process seamless, she also acts proactively to help clients keep up the momentum with their planning applications and project schedule. She forges close bonds with developers, visiting them on site regularly, noting every detail of their plans and progress and advising them of changes in market conditions that might impact them. Above all, she is available as a source of expert, pragmatic advice for the developer if their scheme encounters a problem. Rebecca manages a big and growing team and has instilled in them her drive to offer an unmatched level of service to every borrower. Together, they provide—for free—comprehensive support, not just with the developer’s loan facility, but across all aspects of their project, in good times and bad. She has brought together experts from across Atelier’s teams—credit, origination and monitoring—to create a comprehensive service offering that puts the developer, and the success of their scheme, centre stage.

Stuart Milton Senior consultant at Reservoir Finance

Stuart initially introduced a deal to a lender back in June 2021 when his client was looking for a commercial mortgage of £595,000 to repay CBILS loans that had helped support their trading business throughout Covid, build new industrial units for rental, build a sizeable home extension, and to fund the second phase of a new building. After some initial conversations, Stuart quickly made a two-hour journey to meet with the client on site and included the lender on a video call to help understand exactly what and where the security was and returned to oversee the signing of the contract. While there was plenty of security to lend, the client’s groundwork business accounts were bleak, reflecting the impact of the pandemic and subsequent diversion of cash, material and labour to support the building of the industrial units and house extension while normal trading was impossible; as a result, underwriting was very concerned. To mitigate this, Stuart provided a spreadsheet of the last 30 months’ business bank statements, illustrating a breakdown of where the company money had been used by identifying exactly what was spent, line by line, across over 2,000 separate transactions, which highlighted the true strength of the business and provided the required comfort to proceed. Although the borrower had no experience of building units, the property was very nearly complete with 70% occupancy, the home extension was finished, and the lender had evidence of increased value and equity from Stuart. He also chased the client’s lawyers with regard to title/ LR/multiple lease issues, sourced fire regulation inspection firms, switched the client from a variable to a fixed-rate loan after terms were issued and multiple interest rises, and helped with valuation surveys/ reports and the subsequent extension of deadlines. After 18 months of daily interventions, Stuart helped complete the deal in December 2022 while he was on holiday.

Matthew Watson Business development manager at West One

Matt is described as always making himself contactable to both to his internal and external customers and showing a high level of determination. For a £128,000 loan, it was Matt’s broader understanding of the property market and credit risk that enabled West One to alter its usual process and requirements to get a regulated bridging loan completed in just four days from submission to pay-out. The specific challenges with this case were the strict timeframe that he had for completion, making full valuations and legal due diligence tough. Nonetheless, Matt was able to find a solution that worked for both West One and the client, allowing the loan to complete in time. One broker said they saw Matt as “an extension of their own business”, knowing he is just as keen to get loans completed for their clients as they are, and is always striving for shorter turnaround times and improving SLA’s—not only at West One, but setting the standard for the industry as a whole. Brokers can count on Matt to deliver and is part of the reason why one introducer goes to West One for their ultra-time sensitive and complex deals, stating that “nothing is ever too much trouble”, and they can rely on him to always pick up the phone—even if it means to have a difficult conversation. When Matt is approached for terms, brokers know these won’t change unless something outside of their control happens, which wasn’t known at the outset. This is due to his apt ability to analyse a deal on day one and his in-depth knowledge of criteria, meaning he understands West One’s credit risk appetite inside out and exactly where they are comfortably at in terms of LTV and rate. Matt has the ear of senior management and shareholders within the business, which means if there is a case which is slightly quirky or outside of criteria, Matt is trusted to present the deal to credit committee in the best possible light, understanding every intricacy of the case and the client’s objectives, so a workable solution can be reached for all parties.

Stuart Jones Regional director for London and the South East at Cambridge & Counties Bank

One of Stuart’s customers has a multi-million-pound commercial portfolio which the bank supported the acquisition of in 2022. The initial proposal of acquiring a portfolio of properties in a UK SPV appeared ‘vanilla’, however, as the transaction progressed, more challenging aspects started to reveal themselves. This included complex lending structures, non-standard commercial lease conditions and significant differentials in valuation assumptions. It also comprised undisclosed break clauses, sub-sale, offshore jurisdictions, and overexposure to vacant possession valuations. These complexities, with the backdrop of a short timeframe to complete the deal, made the transaction an extremely challenging one—and failure to complete on time would have resulted in a six-figure deposit being lost. Stuart worked closely alongside panel lawyers and surveyors to negotiate the key risks, with several rounds of credit committee and money laundering reporting discussions. He was

Jemma Wood Head of portfolio management at Hope Capital

Jemma has transformed the portfolio management department, implementing a range of new systems and processes to improve control and efficiency. However, her efforts have never been as influential to Hope Capital and the industry as a whole as they were in 2022. Recognising the challenges presented in the market over the past 12 months, Jemma focused heavily on finding new ways to support borrowers who had taken a loan out with the lender. This included introducing a risk matrix—a spreadsheet which records the everchanging financial climates, such as reducing property prices, increasing build costs, and available refinance products. Ultimately, this indicated which borrowers were at most risk of changes in the wider market which, when flagged, Jemma could utilise to support her clients to achieve a successful outcome and timely redemption. Furthermore, Jemma onboarded a number of new staff members in 2022 who she trained and mentored to ensure they could provide the same level of support to clients throughout their loan processes. Consequently, in December 2022, Jemma had no loans in receivership and minimal defaults on the loan book. This was partly achieved by her efforts to find a solution, where if a borrower needed to extend their loan, they were able to. A key example of when Jemma stepped in to support a client last year was for a complex, heavy refurbishment case involving a vacant freehold former pig farm in Lancashire involving 13 units. When the loan progressed through to the portfolio management team, Jemma was presented with various challenges. This included there being up to 17 capital repayments and drawdowns. However, owing to Jemma’s customer service skills and expertise, coupled with the utilisation of the risk matrix, she was able to support the client through to a successful exit.

Thomas Alexander Henri Director at Nest Finance

Thomas is said to act more like an in-house business consultant than just a broker, and has delivered multiple outstanding solutions in 2022 for his clients. One example is when he raised £13.1m on a commercial facility and planned this with no ERCs across a client’s unencumbered residential portfolio to acquire two new assets. As rates were expected to rise slowly, having no ERCs was an important recommendation. The funds were used to purchase a large commercial warehouse and a 78-unit MUFB, with a total purchase cost of £15m. Thomas sourced the property and presented the finance plan to the client who wanted to grow his portfolio. This was a cashflow-positive exercise and, more importantly, increased the borrower’s net profit position in excess of £500,000 per annum. The warehouse is earmarked for conversion into a vertical farm, growing basil, lettuce leaves, strawberries and more for local London restaurants. Thomas has been negotiating and assisting on the contracts, including 50% part-vendor finance at 4% over a five-year term, and also guided on the size of facility to be built when taking into account the ROI. This involved stepping into joint board meetings and contract read throughs and multiple site visits when the client wasn’t available. The entire build project stands at £7m-plus. Initially, the plan was to raise bridging finance on the warehouse for £3.6m in three drawdowns over 18-24 months to allow for the build and commissioning phases of the vertical farm, then allowing for a period of trading history with finalised company accounts to exit onto commercial term finance. In Q2 2022, the vertical farm project exchanged contracts and the client needed to raise a further £2m-plus to fund the second and third payments due in 2023 and 2024. As the client was on a variable rate with no ERCs, Thomas was keen to move them off it before it reached 4%. With this in mind, he immediately contacted lenders about the portfolio of over 30 properties owned in a mixture of various limited companies and in the client’s personal name; it was not a quick and easy remortgage. He managed to move the entire £13.1m to a new lender and raise a further £1.5m net at 3.24% for five years with between 65-75% LTV, depending on the asset. This not only secured part funding for the farm project at low rates, but keeps his finance costs down for a further five years. The next stage payment in six months for £1.2m is also covered. Only the final payment of £1.2 due in 18 months will now need to be financed with bridging finance on the warehouse. This will save the client significant bridging interest and multiple QS costs. This final bridging loan can then help stretch out the timeframe from production commencing. This should allow a further set of full or interim accounts with full production figures and profits to then allow an exit onto a high-street commercial term loan. If Thomas had not acted when he did, even a 1% increase in rates over five years based on the original £13.1m loan would have cost the client £655,000. Considering how quickly the interest rates went up, there would have been a real risk a lender may have pulled out, had products not been secured. The timing was perfect, keeping the client on the cheaper variable rate as long as possible.

Lauren Robertson Operations manager at Method Valuation Management

Lauren’s passion is delivery and customer service, which she instils into her team. She utilises her vast contacts in the valuation industry to get things done, speed things up and, ultimately, shorten timescales for the benefit of the borrower. One area where Lauren excels is solving unsolvable valuation queries on weird and wonderful enquiries that, ultimately, enable lending requests to progress that would otherwise grind to a halt. For example, she had an extremely urgent bridging case relating to the purchase of a large HMO through auction. Finding a valuer with availability to both visit the site and commit to returning the report in line with the lender’s timescales took time, effort and a favour to be called in. The valuer encountered difficulties arranging access to the site and, as is often the case, the lender and surveyor bounced some queries between each other to clarify some matters and Lauren had to step in to adjudicate on a point around the permitted use of the property. As the completion deadline loomed, the lender enquired as to whether the report could be returned earlier than planned, and so Lauren had to negotiate with the surveyor (no doubt calling in further favours) to arrange for urgent completion. This happened, leading to a happy lender client and delighted borrower.

Garry Wilkinson Broker business development director for the Midlands at Allica Bank

Garry is described as “always contactable and open to various scenarios”, giving excellent advice and support where appropriate, and championing brokers when things get difficult. For example, Garry worked on a mortgage of nearly £600,000 that took over 18 months due to the Covid fallout and the interest rate chaos of last year. Apart from the usual legal and title delays, other issues conspired to put the deal in doubt on several occasions. However, his help and hard work helped get the deal done when many other banks and BDMs would have just given up. This included persuading the sceptical underwriters to look again at accounts once they had been separated to show better affordability, holding back interest rate rises as long as possible, and chasing all departments and not taking no for an answer when things were urgent—despite all the other deals he was working on. In the file, the broker received and sent 695 emails, 65 texts and countless phone calls, which Garry responded aptly to.

Paul Griffiths Managing director at Marlin Corporate Finance

A labour supply company had cashflow issues due to several issues: firstly, the incumbent bank reduced its agreed operating facilities, meaning that invoices uploaded weren’t being paid out to the level they previously were; secondly, management changes at a key customer meant that payment terms were extended from 30 to 60 days; and thirdly, another customer of the client ceased trading, meaning that concentration levels were highly geared to one key client. The company had also recruited a significant number of workers from Europe over the past 10 years. Due to issues caused by Brexit, and further impact from the pandemic, there was a severe shortage in the recruitment pool. Paul carried out and in-depth review of the business and its current needs and planned for its short-term future with the directors. A business plan was created and two years of financial forecasting was carried out, which was then presented to a new bank. The presentation was warmly received by regional directors and noted for its quality of introduction and resulted in an offer which increased the availability of funding via a confidential invoice finance facility with a reputable lender, alongside an immediate cashflow injection in the business. This took the pressure off the directors who were then able to negotiate better terms with its key clients and has resulted in a renewed contract and further new ones within the industry. The deal involved many out-of-hours meetings to help not only save the company, their workers’ jobs and livelihoods, but put it on a strong and steady growth plan over the coming years. The business is now flourishing and expanding its senior management team and creating further jobs.

Shazad Ahmed Director at Elan Property Finance

In September last year, Shazad had a first-time investor come to him in distress. They had just finished a series of property education training and were looking at taking on their first ‘buy-refurbish-refinance’ project. They had no assets, so personal guarantees weren’t worth much, and no experience, so a risky proposition for a lender. They also wanted to use a third-party investor to fund the deposit. The numbers worked, but convincing a lender of the same was not so straightforward. They were anxious because they had already approached another broker who said there would be no issues getting funding and, on this advice, they’d paid the auction deposit. The broker then started ghosting them, so had already lost five days. After contacting Shazad, he was able to source funding from a lender—but only towards the purchase. No one was keen to fund the works due to the lack of experience and the associated risks attached. The client was in a position where they couldn’t raise any further funding and stood to lose their deposit at a minimum. Consequently, Shazad arranged a conference call with the client and their investor, outlining the situation and proposing that the deal become a joint venture rather than an investment. He also uncovered that the investor had a BTL portfolio and some minor experience in refurbishment that they could evidence. Once everyone was on board, this suddenly became more appealing and Shazad was able to find a lender to fund 70% of purchase and 100% of the works. In addition, he had to be proactive with the solicitors; once the case was with legals, he took the time to run through the requisitions with the legal team to confirm what could and couldn’t be indemnified so that they could work with clinical efficiency. Ultimately, they ended up completing on day three of the 10-day notice to serve period—but no one lost any money, the client got their first investment property, and the deal was a success.

Louise Chapman Commercial director at VAS Valuation Group

Throughout last year, Louise fronted a training and lender-support programme to educate further on the valuation process and the proactive steps that should be taken to ensure as much information is gathered before the point of instruction. One example of going above and beyond is an application for a large London-based hotel, a deal being considered by a VIP client of Together’s commercial CEO, Marc Goldberg. Having agreed a substantial seven-figure purchase price, the client required a bridging loan to finance the acquisition. Louise was approached, requesting a surveyor who specialised in hotels to be able to give the best possible advice. The surveyor had to be on site within 72 hours and complete the report as soon as possible. Louise, who was at home with a bad case of Covid, immediately set to work to ensure Together’s request could be met and the most applicable person was sourced. Several key issues were found by the experienced valuer not linked to the physical structure of the building itself, including a major lease issue, notification that the hotel was part of a shopping centre which had numerous vacant units and didn’t appear to be performing well, and no visibility on the reason for the sale. Due to the thoroughness of the report and surrounding advice, the bridging deal didn’t continue—although there may still be interest in the future. The work by Louise in securing the right professional advice saved both the lender and client a substantial amount of money. Throughout the process, Louise remained the key point of contact between the valuer and lender, ensuring a constant flow of information as the full picture emerged. In turn, this allowed the client to make an informed decision in a timely manner.

In honour of the late Martin Kemp, who worked as a commercial finance broker at FinanceWell

The industry was shocked and saddened to hear of Martin’s passing. He is described as “a wonderful man and a fantastic broker who always went above and beyond for his clients”. To honour his memory, one lender highlighted a case he helped them on last year where his client had just two weeks to complete on a semi-commercial refinance. Doing so is a challenge at the best of times, as securing quick valuation reports is notoriously difficult with this asset type. Fortunately, Martin was always on hand and regularly engaged with the lender’s underwriter, ensuring that things moved as swiftly as possible. A valuation report was secured within a week, revealing a significant downvaluation. This, combined with the borrower’s adverse credit, brought renewed challenges in getting the case across the line. Rather than burying his head, Martin doubled down on his efforts to find a solution, mediating between the lender’s team and the client, and keeping a cool head at all times. As a result, the finance provider was able to hold its terms and get the deal across the line in time. Beyond his expertise and professionalism, it is said that Martin was a “delight” to talk to on the phone. He made an effort to ask underwriters about their lives beyond work and showed a genuine interest in how they were. His temperament and way of working brought about the best for his clients and underwriters. “Martin is testament to what can be achieved in our industry when an individual brings passion, professionalism and a profound sense of care to their job. He will be greatly missed by all of us,” one lender commented.

The team at FinanceWell:

“Martin was not only an absolute a joy to work with but a wonderful man, and the whole team will feel his loss forever. He had time for everyone and absolutely loved a chat, whether it was about work, the footy or rugby score, or where he was proudly updating us all on the latest happenings in his much loved family life. Running both a lender and a broker means you have to have clear separation between the businesses, but Martin aided the lending side more than he’ll ever know. He taught us all so much about the world of broking that we will never forget; there wasn’t a person that he didn’t know and therefore no matter how complex the deal, Martin found solutions—but he wasn’t too proud to seek assistance and advice from others. We spent many an afternoon debating challenges that had come up on his cases, or with him sharing with us problems that he had overcome by reaching out to other brokers in the market for their steer or guidance. Martin was all about relationships and working together towards the shared goal of delivering for clients, but also made fun and laughter part of the process. We will all miss him so very much, rest well dear friend.”

Maeve Ward Director of commercial operations at Mercantile Trust

Maeve and her team are passionate about making a difference and helping where others might not be able to. They are continually looking at ways in which they might be able to broaden their reach, as opposed to chasing volume by dropping rates. Maeve has a commitment to industry education, which benefits the whole of the market and not just Mercantile Trust. She has demonstrated there are solutions for first-time buyers and first-time landlords starting out on their journey. Equally, she made more experienced property investors aware of how they can make their portfolios work for them, especially if they were looking to diversify into lower-valued property areas with stronger rental yields. In addition, Maeve has highlighted how Mercantile is supporting those who may have fallen victim to circumstance during the pandemic and ended up with impaired credit, by looking upon them more sympathetically to help them ‘repair and rebuild’. She has also created consumer awareness on changing regulations around EPCs and illustrated how bridging and secondcharge BTL can be used in the short term to protect preferential rates and avoid costly ERCs while being used to enable slighter higher rents (as the securities have become more energy efficient) which, in turn, lowers bills during the cost of living crisis, making it attractive to potential tenants.

Alastair Hoyne Principal at Finanze

Described as “always listening to clients’ needs” and amending, designing and implementing innovative products with lenders, offering ‘next-level thinking’. His morals and work ethic around supporting small businesses has helped his customers grow, and he has even gone as far as hiring an economist to provide free advice on the market. For one client Alastair arranged a bridging facility for, he wrote to over 150 lenders and spoke to 50 of them before choosing the provider with the most favourable terms—and much more competitive than the borrower’s previous broker was quoting her. When build costs during this transaction tripled, Alastair arranged for the client to have a chat with a solicitor advocate who specialised in dispute resolution for construction cases and litigation to help her get performance to contract in place and a refund of excess costs. He then negotiated with the lender to extend for three months with a reduced default rate. As the works still took longer than anticipated, Alastair arranged a last-minute re-bridge to avoid the client facing more penalties with a new facility that was almost as good value as the first—and waived his fees because the borrower was already in so much pain financially and mentally.

Naseer Ahmed Commercial director at Whitehall Capital

Naseer moved heaven and Earth to help the borrower and their broker on the most complex bridging loan he had worked on in his 16 years in the industry. A very strong, creditquality borrower was unable to access finance on attractive terms for the renovation of a three-storey Chelsea townhouse valued at £16m. Due to the complexity of the build, especially when considering the rising cost of labour and materials, it was difficult to get comfortable with the loan size required. But Naseer was very confident in the borrower and the asset, so he was sure there was a way to get the deal done. He modelled the expected costs of the project alongside the customer’s income, which he had to behaviouralise because it was variable. He then prudently stressed his assumptions and arrived at an acceptable debt service coverage ratio, which he used to size the debt and structure repayments. The result was a complex, cashflow-based loan similar to a model you would see in project/infrastructure finance. It wasn’t straightforward and required numerous hours to complete, but the result ultimately gave the borrower the flexibility they needed to deliver the project, and also gave the lender comfort that the deal was appropriately sized and well structured. The customer was talking to multiple brokers and lenders, but was unable to access a structure like this anywhere else in the market. Without Naseer’s determination, creativity and outof-the box thinking, this project may not have been delivered.

Emily is renowned for being a case solver and someone her colleagues and clients know they can turn to for her exceptional ability to deliver innovative, bespoke solutions for even their most challenging applications. Emily’s talents were put to the test in 2022 when she was tasked with getting an extremely complex case over the line. Emily had to use all of her market know-how and skills at communicating with a spectrum of different stakeholders, including OSB Group’s Transactional Credit Committee, valuers and solicitors, to ensure an offer for the £8m purchase price was achieved and that all conditions were satisfied. She was able to complete the case in less than two months by coordinating the various elements needed to achieve the right outcome for the client. It’s these relationships which Emily has worked so hard at nurturing over the past year, listening to stakeholder feedback about what support they need to help them with their clients’ often complex borrowing needs. This feedback led to a doubling in the size of the sales team; the launch of a 10-person office-based BDM team which provides telephony, video conferencing and webchat support; and the onboarding of new solicitors to make the conveyancing process easier and quicker.

Paul Munford CEO and founder of Century Capital

Late last year, a family office introducer approached Century Capital with a conundrum for a longstanding HNW client who had a strong relationship with a small private bank that had mortgages over two of their trophy real estate assets—both London townhouses worth £12m and £25m. Previously, the client had sold an Ibizan villa on the top of a cliff with magnificent sea views, which had been a favourite destination for the borrower who was keen to replace it. A property was sourced that ticked all the boxes and an offer was duly made in the face of fierce competition. The condition of the clients’ offer being accepted was an immediate commitment to purchase. The family office recommended that one of the London investments could be sold to release cash to complete on the holiday home villa. With this proposal agreed, the client found a buyer for the £12m townhouse and exchanged contracts on the villa. This all looked fine until two weeks before both completions, when the bombshell was dropped by the borrower’s private bank: they would require all the proceeds of sale of the London house. Paul was called to find a solution for this conundrum. Without the proceeds of the London house, the client was unable to meet the £4m balance of the purchase price for the villa and the £500,000 deposit and costs would be lost. Paul’s solution was to offer the equity required through a second charge on the remaining townhouse. However, this was fraught with difficulties: the mortgage agreement contained a negative pledge restricting further lending, and the prior lender normally refused consent for second charges. With time ticking away, it was essential Paul negotiated with the existing lender and found a way around the issue. Using his personal contacts from over 30 years in lending, he connected with the credit team at the bank and a proposal was made that was acceptable to all parties. While this was happening, the team at Century were busy organising legal and valuation work. The approval from the bank came through days before the completion of the villa and sale of the London house. Century completed the £4m advance one day after the sale of the UK house, and funds were immediately sent on to Ibiza to close the purchase. The outcome was a delighted client who will be spending 2023 enjoying her tranquil idyll. Meanwhile, the family office has the breathing space of a Century loan to find a Spanish mortgage to redeem the short-term lending. The client also has other investments to make good any shortfall.

Joanna Elton

Regional account manager for the Midlands at Together

A key broker got in touch to look at options for their clients—a father and son who were looking to refinance their family farm from a bridging loan to a BTL term. They had an exit strategy in place with their current lender, however they were let down last minute and were told they were no longer able to proceed due to due to their age and the minimum term. This meant they were at risk of losing the family-run business. As they were on a tight deadline to redeem the existing bridging loan, The broker contacted Joanna to see if Together could look at criteria on a BTL term due to the client’s age. There were various levels of criteria to be reviewed, including complex property and income: the farm, with 30 acres of agricultural land, a holiday let business, investment property, and being an expat. Joanna knew that numerous experts from across the business needed to be involved and so she coordinated across departments to ensure they were able to meet the deadline for the client and produce a positive outcome. The case needed to be assessed as a separate transaction for the father and son however, when it came to funding, the securities, applicants and loan purpose needed to be looked at together. Joanna used her experience and knowledge to go through all these factors with the underwriter to ensure they had all the information needed. With everyone being able to pull together, they managed to overcome these hurdles and proposed a re-bridge for the father and a secondcharge business loan for the son. The cases had to be underwritten in tandem and both needed to be funded simultaneously—which they did.

Scott Lord Head of bridging underwriting for direct brokers and clients at Market Financial Solutions

Scott is always looking one step ahead to guarantee his clients’ loans are kept on track. One recent case was particularly challenging: from the outset, Scott had to be nuanced and adaptable in supporting the underlying borrower. The deal in question was for a commercial case with a loan size of £9.6m. The client turned to MFS as they weren’t happy with their previous lenders. They were looking to clear an existing charge, finish refurbishment works, and let out individual units within a large commercial asset. Their exit strategy depended on development finance being issued to finalise these plans. Due to the size and complex nature of the security property, it was obvious that this would not be a straightforward deal. Scott knew he would have to think outside the box to get funding issued. Therefore, he decided to lend based off the property’s OMV, even though the majority of their loans are based upon the 180-day valuation. Due to the client’s complex background—being located overseas while purchasing a large commercial asset in central London—Scott met with the broker several times to ensure all parties were happy and kept up to date throughout the entire loan period. He ensured the underlying borrower was always updated, prioritising consistent communication, working to their timeframe, and making sure MFS dealt with their sensitive background professionally and with discretion. These are elements Scott brings to every case to give the borrower a sense of control and security throughout the process. He also physically attended the site to assist with progressing the case, personally went out of his way to evaluate the risk involved, and remained in constant contact with the valuers providing the initial report to keep the ball rolling. In addition, Scott took an in-house valuer with him when he visited the site to provide backup expert advice on the works needed, evaluate costings, and make sure MFS was able to provide funding within the client’s timeframe. By going this extra mile, it also provided transparency for the borrower as Scott was able to provide accurate confirmations, bespoke rates and fees ahead of time and minimise any hesitation the client may have had. While other bridging lenders may automatically decline a case that falls outside their acceptable parameters, Scott assesses every deal on its individual merit and is always pushing and inspiring his team to find new and innovative ways to provide specialist finance.

Stephen Henman Managing director at Method Valuation Management

In the 18 months since Steve’s arrival at Method Valuation Management, he has been adamant that growing Method must not be to the detriment of the borrower. Upon appointment, Steve instigated a review of company values, including internal stakeholders and the lenders, brokers and valuers who it works with. In a busy initial period with the business, Steve oversaw the launch of Method’s monitoring surveying service to benefit those involved in development finance, and the partnership with the NACFB to open Method’s service to more brokers and borrowers. To help the company get closer to its key stakeholders, Steve restructured the business to centre around relationship management, appointing a new senior relationship manager and team members to enable the company to better listen and, more importantly, react to the views of its lender, surveyor and broker contacts. Steve is described as “more than willing to get his hands dirty and use his extensive experience to solve issues that arise”. For example, in a rare occasion that a restaurant valuation was to significantly exceed the estimated property value—and therefore the valuer’s indemnity insurance policy— Steve took ownership, spoke with the broker, valuer and lender about the situation, and suggested a way forward around the cap on the valuer’s liability to enable the case to progress. Had he not stepped in, then a new valuer would have been instructed and the subsequent delay would have scuppered the deal. Steve used his extensive credit risk experience along with his valuation knowledge to help the case progress.

Laura Carr

Head of underwriting at Hope Capital

Throughout last year, Laura made various strides to help improve Hope Capital’s offering, which was instrumental in supporting market demand and increased how many borrowers the lender could assist with their bridging finance options. This ranged from introducing dual-legal representations for auction purchases, enhancing the provider’s valuation options to help facilitate larger loans and increase its LTV offering, as well as launching OMVs and expanding its solicitor panel to speed up the delivery of AVM and desktop valuation solutions—all of which have been extremely beneficial to borrowers over the past 12 months. In addition, Laura grew her department and trained and mentored her team to support the increase in case volumes Hope Capital experienced in 2022. A particular deal which demonstrated how Laura went above and beyond to deliver an outstanding solution was for a borrower who needed to raise funds extremely quickly for an onward purchase. Having been previously let down by another lender that required a full valuation, the client needed to find someone quickly who could provide a solution and surety, otherwise they would have been at risk of losing the property and incurring a financial loss. As a result, Laura stepped in offering full title insurance and a desktop valuation solution, providing maximum speed for the deal. Utilising her strong working relationships with various parties, she was able to send an agent out extremely quickly to obtain a video walkthrough of the property and report back with all documentation hand delivered for speed. She also established consistent communication via an all-parties call to ensure everyone was on the same page and nothing was missed. This included working with MSB Solicitors, which said working with Laura was a “breath of fresh air” and her knowledge and proactiveness was “second to none”. As a result, the lender delivered for the client with the outcome they were looking for.