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Diary of a new lender – Fleet Mortgages

by: Bob Young
  • 11/11/2014
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Diary of a new lender – Fleet Mortgages
So I'm guessing this is what it feels like to be punch drunk? I believe a week has gone past since I last wrote this diary piece but in the world I currently inhabit this could be a fortnight or yesterday.

The good news is we are still very much on track for our launch later this month despite the best efforts of some of our counterparties. Thank heavens we’ve got really good partners – it makes a tremendous difference when you’re trying to get stuff done.

Our system is currently being pounded by some really heavy-handed testers who are trying to break it before we go live. I won’t tell you how many ‘fixes’ are needed but I’m assured those wizards at DPR will fix everything in short order. Mike Lane, our IT Guru, remains calm which is in itself quite calming for me – if he looks a bit wild-eyed I know we’ve got a real problem.

I wish I could share the product details with this diary as they’re looking really good both on price and criteria. Superb for experienced landlords looking for a new funding source, particularly good if they want the lending for a limited company but more on our products in the future when we’ve tied the final price down. Watch this space.

Another experienced underwriter started with us yesterday with more to come in over the next week or so and we’ve been very pleased to welcome ‘back’ an old colleague into the sales team. I’ve made plenty of this before but good quality people are the lifeblood of any business and we’re lucky to have one of the most experienced mortgage teams ever to be assembled.

I was very proud this week when a visitor to our Fleet Mortgages office tactfully referred to our premises as ‘suitably shabby,’ as it’s true. No point in blowing all the investment on fancy offices – these can wait although a part of me wonders if we will ever have fancy offices.

As long as the staff are comfortable, have clean and modern ‘conveniences’ and a place to take five minutes over a coffee and a bite to eat I’ll be quite happy. If all goes to plan (and it will) we’ll move somewhere a bit ‘nicer’ next year but Fleet Mortgages will never be accused of being flash, no spectacular marble hall and lobby with resting actors modeling the latest designer wear for receptionists. I’d rather invest in training and development for the great people who have chosen to work with us.

Bob Young is chief executive officer of Fleet Mortgages

Fleet has launched its website at today.




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