As I look back on 20 years as a mortgage broker it’s amazing how far the industry has come, particularly in the last few of years.
Nine years ago, in the midst of the ‘credit crunch’, I founded Sammon Mortgages. It was a brave move to go it alone in such a difficult climate and apply for direct authorisation. I built the company around a traditional mortgage model, developing relationships and cultivating a client bank and that model has served us well. However, the emergence of online disruptors ignited a question that I have been considering since the inception of the Sammon Mortgages, ‘how could I spend less time on paperwork and more on advice’. I am naturally a sales person so have never enjoyed the paperwork side of my job, seeing it as a necessary evil. So, in 2016, when new technology had advanced enough for me to implement my concept of streamlining the mortgage journey, I embarked on my path to build Ladder.
Ladder, based in Shoreditch, is an AR of Sammon Mortgages. It has been two years in the making and is much more than just a glossy website. We could have come to the market much sooner but we took our time to develop and build our own bespoke platform and CRM which allows us to complete mortgage applications in less than 10 minutes, without duplication. Everything is recorded in live time and, at each key stage, clients are emailed the appropriate documents. We have been trialing the system for the best part of a year. The process is not only secure and compliant but it also saves our brokers 80-85% of the time needed to submit an application.
Channeling every client down an online journey does not sit comfortably with me. One thing that I have learnt over the last 20 years is that no two clients are the same and clients value flexibility in choosing how they transact. That is why we created Ladder , a hybrid mortgage broker, combing traditional expertise with the very best in modern technology.
The hybrid model is the future of mortgage sales and we are excited to be leading the way. Ladder’s three step model is simple; clients can either apply online, over the phone or face-to-face. They can choose a combination of all these routes if they prefer. As we say at Ladder, ‘it’s your mortgage, your way”.