This month, we are sitting down with Vic Jannels (pictured), the outgoing CEO of the Bridging & Development Lenders Association (BDLA).
How did you get into the mortgage industry?
The short version is that I had no intention of doing so, until I could not see a future working for a company selling underfloor heating. I noticed a sign on an office door indicating that they were a professional and executive management company. I knocked on their door and asked what this meant and within days, I had accepted a job with the (then) Provincial Building Society. This turned out to be the single most important and defining moment in my career.
What has been the biggest learning been over your career?
I have found in the intervening years that you never stop learning – but also that you need to be a good listener. I have learned much from listening to other people’s experiences and advice.
The changing role of the Bank of Mum and Dad
Sponsored by Aldermore
How has the specialist lending sector evolved over the course of your career, and has it been for the better?
It is probably true to say that there was no recognised specialist lending back in the early 1970s and it was some time before lenders were able to discern easily when an applicant was on the wrong side of adverse.
That said, many clients who have suffered a ‘blip’ in their finances are not always pointing to a bad financial profile.
From a lender’s perspective, they need to understand the client profile to evidence the likelihood of future default. Judging one against the other is a specialist task and I think the wide divergence of customer profiles, and the ability to quickly identify them, has been good for the industry.
Looking ahead for the specialist lending sector, where do you think the biggest opportunities and challenges are? Are there any areas that will see more growth than others, and if so, why?
The whole point of the specialist lending sector is that it adapts to where the opportunity lies. It exists to serve those customer profiles that aren’t met by the mainstream – whether that’s people who are self-employed, working on contracts, have multiple income sources, or have experienced credit blips.
Bridging is an excellent example of a sector that has continued to evolve with customer demand. In recent years, we’ve seen a clear increase in the availability of finance for refurbishment and conversion projects, often enabling older or underused buildings to be brought back into residential use.
With the demand for homes continuing to outstrip the supply of new-build property, I believe we’ll see even greater importance placed on conversions as a route to unlocking housing. That presents real opportunities for both brokers and lenders – provided we maintain the agility and responsibility that underpin specialist finance.
You have been the BDLA’s CEO since 2019 and are stepping down next year. What would you say have been your biggest achievements during your tenure and what advice would you give Adam Tyler going forward?
It’s been a privilege to lead the BDLA through such a transformational period. When I started in 2019, the association was still the Association of Short Term Lenders (ASTL) and the sector was in a very different place. Today, we have almost 100 members, a collective loan book of more than £13.7bn, and a far stronger voice in the market.
Among the highlights have been the rebrand to the BDLA, the launch of the Certified Practitioner in Specialist Property Finance (CPSP) qualification, and the introduction of our real-time fraud intelligence platform. These were all the result of a combination of forward-thinking, collaboration and a lot of determination.
To Adam, I would simply say: remain visible, remain vocal, and remain focused on member value. Adam knows the sector inside-out and is deeply respected – I’m confident the BDLA will go from strength to strength under his leadership.
You are also executive chairperson of Impact Specialist Finance and Impact SF Packaging. What are the strategic priorities for the business in 2026?
2026 will be all about growth through service, diversification, and digital enablement. At Impact, we’re seeing strong broker demand for support on more complex cases – whether that’s multi-unit lending, credit impairment, or chain-break bridging. Our role is to provide the expertise, the relationships, and the infrastructure that help brokers deliver for their clients.
We’ll continue to invest in training and technology, and we’re exploring opportunities to add more value to brokers and clients.
Do you think more brokers will have to diversify into specialist lending? What advice would you give to brokers who want to explore the specialist lending sector?
Yes, and many already are doing so. Generational events, such as the Covid pandemic and cost-of-living crisis, have played a role in making household finances more complex and more brokers are encountering client scenarios that don’t fit the high street mould.
When it comes to property investment, landlords are now looking at more complex types of investment, such as houses in multiple occupation (HMOs), multi-unit blocks (MUBs), refurbishment projects or holiday lets, that can deliver a stronger yield than straightforward buy to let (BTL).
My advice is to seek out education and partnerships. Learn how different products work. Attend workshops. Use packagers and trade bodies to deepen your understanding. This isn’t a sector you can approach half-heartedly – but for those who do invest in it, the rewards in terms of client outcomes and business growth are significant. And, of course, if you haven’t done so already, consider taking the CPSP qualification.
Do you think the importance of packaging will grow in the specialist lending sector in the near term?
Absolutely. As cases become more nuanced and lenders more selective, the role of experienced packaging partners is only going to grow. It’s no longer just about giving brokers access to lenders – it’s about insight, execution, and adding real value throughout the process.
Customer circumstances are becoming increasingly complex. At the same time, the range of lending solutions has broadened significantly. No broker can be a master of every specialist product area their client may need – whether that’s bridging, development, second charge, or complex BTL.
Good packagers provide brokers with clarity on lender criteria, help shape cases for success, and often spot opportunities others might miss. With regulatory demands tightening and lender appetites constantly shifting, I see packaging playing an even greater role in helping brokers deliver the right outcomes for their clients.
There is no doubt that technology will be key to the future of many in the mortgage sector and I have to confess that my interest here lies with the amazing OMS business, which my two sons Dale and Neal lead so well. I have a vested and personal interest in their business and you may see me in the background from time to time in support of their efforts.
What would you want the mortgage industry to know about the BDLA and Impact Specialist Finance?
At the BDLA, we exist to support, represent and protect the specialist property finance sector. We’re not here to be passive – we’re here to lead. Whether it’s challenging disproportionate regulation, tackling fraud, or raising standards, the BDLA is on the front foot.
At Impact, our mission is equally clear: to help brokers succeed in specialist lending. We bring market expertise, lender access and a genuine partnership approach. Between the two organisations, I hope we’ve helped make the specialist sector more professional, more transparent, and more trusted. And I’d like to think we’re just getting started.
