Which locations and how many advisers and broker firms do you cover in your role at LHV Bank?
Being North West-based, I tend to look after broker relationships on my doorstep, but also as far as the Midlands/Yorkshire. I look after around 15 experienced commercial brokerages with close to over 100 advisers.
What personal talent/skill is most valuable in doing your job?
Being approachable. I am on hand to listen and assist with shaping deals (we work in a complex area of buy to let (BTL) and commercial investment, so sometimes you need to step out of the box to see the bigger picture).
You also need to have empathy because the answer is not always the one that people want to hear.
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What personal talent/skill would you most like to improve on?
To acknowledge that things can take time and they are out of my control, whether that is a change in policy or a legal issue. So, I guess I am saying patience.
What’s the hardest part of your job?
I am not a fan of saying no to deals, though we can’t do them all. On the other hand, though, I am a big fan of a quick no so brokers can continue the search.
What do you love most about your job?
Working with incredibly talented people. My broker partnerships are incredibly important and, working in real estate for 15 years, I have met some great people.
What’s the best bit of career-related advice you’ve ever been given? Who gave it to you?
I would say the listening part. When asking a question, let the broker finish and take notes, whether it is about their business or deals on the desk.
How do you keep up to date with developments in the market?
I regularly talk to brokers about what is happening as they are on the front line daily, whether that is around lender appetite or products or how investors are feeling in the market. Also LinkedIn and the industry press like Mortgage Solutions, which hits my inbox daily and I review.
What is the most quirky/unique property deal you’ve been involved in?
A unique deal where I assisted with a large refinance of a residential portfolio. The structure was complex with offshore elements within a family trust. This capital-raising deal enabled the client to acquire a historic commercial building.
The refinance we provided enabled the client to buy this building and convert it into flats with commercial units below. The project transformed the area and really did kick-start the regeneration of the town centre, but, more importantly, a fantastic building is back in use.
Tell us about your trickiest case – what happened and how did you resolve the problem(s)?
I would say the majority of my transactions are not straightforward, so it is hard to single out one. But a case I always remember is a large transaction where it was a large industrial site with only two tenants. One tenant had over 80% of the income, so there was a risk element if they were to ever fail or move. We were able to offer a competitive facility just after the pandemic, which worked for the client. We offered a competitive rate on a term that enabled the client to add value by negotiating a new lease to increase the market value. We took a risk-based approach and supported an excellent investor at a difficult time.
What was your motivation for choosing this career?
I am not sure really. I know when I was at school, the mortgage industry was certainly something that was not on the list. I worked for Mortgage 2000 (showing my age a bit) in IT support, and working on the sourcing system I guess triggered something that suggested this was the industry I really wanted to work in.
If you could do any other job in the property sector, what would it be and why?
I wouldn’t mind being a developer. I have helped facilitate many transactions and I think it is a great sector to work in. The thought of developing property to assist with the housing stock shortage is something I would take pride in.
What did you want to be growing up?
No doubt, a footballer. Though time is on my side to make it in amputee football*… Not sure the pay would be quite the same level as men’s Premier League football.
If you could have one superpower, what would it be?
I think teleportation would come in extremely handy – skipping traffic jams on motorways, at airports and even up steps.
What is your strategy for tackling challenges?
Planning. I think if you start with a plan, that might mean breaking the challenge into parts, and then take it one step at a time and stick to that strategy, you will get to the correct outcome.
What is your greatest skill(s), either work- or non-work-related?
I think my positivity is possibly my greatest skill and it is something I have never really appreciated.
And finally, what’s the strangest question you’ve ever been asked?
Where do I begin? I think there have been a couple of questions since I had my leg amputated, but it would be: “What do I do with the other shoe?”
* Lee Albino had his right leg amputated in March 2019 after a cancer diagnosis.
