You are here: Home - News -

The new build debate: ‘Lenders just have to think differently’ – Virgin Money

by: Mortgage Solutions
  • 08/11/2017
  • 0
The new build debate: ‘Lenders just have to think differently’ – Virgin Money
In the second part of our panel debate on new and custom-build mortgage lending, Lucian Smithers, director of sales and marketing at modular housing specialist Pocket Living said the build capacity with modular homes is 'huge'.

“We couldn’t afford to compete for skills and materials with the bigger developers and were often getting squeezed out so we had to innovate to find a way to find a regular supplier in a way we could control the pricing,” said Smithers.

“Pocket Living properties are all the same size and we can run product lines for as long as we want for each scheme,” he said.

Panel chair Victoria Hartley asked what lenders’ reservations are about new build and how these obstacles can be overcome.

Peter Rogerson, director of mortgages at Virgin Money, said the lender is already looking into different construction methodologies and will approve modular housing in time.

“I don’t see it as a risk issue. We just have to think differently,” said Rogerson.

Smithers adds this method of construction allows you to deliver 70 homes in under nine months with some hotels and student housing already being built in a modular fashion.



The panel

(From left to right)

Peter Rogerson, director of mortgages, Virgin Money

Craig Hall, new build manager, Legal and General

Chair – Victoria Hartley, group editor, Mortgage Solutions

Raymond Connor, CEO, Buildstore

Lucian Smithers, director of sales and marketing, Pocket Living



There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Octopus Property strengthens development team

Specialist lender Octopus Property has added three senior hires to its development team, following a period of record lending.