Spotlight on: Bridging finance Get your client the right solution with bridging finance you can trust

For over 40 years our expert team have been making fast, firm decisions when they’re needed the most. With rates from 0.65% and exit fees from 0%, we consider:

• Many residential and commercial properties accepted including BTL’s, HMO’s and owner occupied • Terms from 3 to 24 months • First and second charge • Employed, self-employed, limited companies, LLP’s, sole traders and partnerships • Up to 100% funding available • 24 hour completions possible

Residential and commercial, first and Nick Jones second charge mortgages | Buy-to-let National Sales Manager Bridging finance | Auction finance

For Intermediaries only. Together is a trading style of each of the undernoted companies, which have their registered office address at Lake View, Lakeside, Cheadle, Cheshire SK8 3GW. Auction Finance Limited is registered in England and Wales - Company Registration Number 04949929. Blemain Finance Limited is registered in England and Wales - Company Registration Number 01185052. Blemain Finance Limited is authorised and regulated by the Financial Conduct Authority in respect of second charge loans secured on residential property. In respect of regulated mortgage contracts, Blemain Finance Limited is an Introducer Appointed Representative of Cheshire Mortgage Corporation Limited, which is authorised and regulated by the Financial Conduct Authority. Bridging Finance Limited is registered in England and Wales - Company Registration Number 03166982. In respect of regulated mortgage contracts, Bridging Finance Limited is an Introducer Appointed Representative of Cheshire Mortgage Corporation Limited, which is authorised and regulated by the Financial Conduct Authority. Cheshire Mortgage Corporation Limited is registered in England and Wales - Company Registration Number 02613335. Cheshire Mortgage Corporation Limited is authorised and regulated by the Financial Conduct Authority - Firm Reference No 305253. Lancashire Mortgage Corporation Limited is registered in England and Wales - Company Registration Number 02058813. In respect of regulated mortgage contracts, Lancashire Mortgage Corporation Limited is an Introducer Appointed Representative of Cheshire Mortgage Corporation Limited, which is authorised and regulated by the Financial Conduct Authority.

15062016_Brightstar ad_Bridging Finance A4_AW4.indd 1 15/06/2016 13:10 CONTENTS SUMMER 2016

Welcome to the HUBMAGAZINE issue #9

FOREWORD FROM ROB JUPP 04 BRIGHTSTAR NEWS 05 SPECIALIST SOURCING #MADEEASY 06 — 08 THE SECOND CHARGE MORTGAGE MARKET, POST MCD 10 — 11 04 THE RISE OF THE SELF EMPLOYED 12 — 13 Foreword AN INTERVIEW WITH CHRISTINA SMITH 15 HUB SPONSOR, TOGETHER TALKS BRIDGING FINANCE 16 — 17 LIMITED COMPANY BTL LOOPHOLE? 18 — 19 JOURNEY TO IIP GOLD & GLOBAL RECOGNITION 20 — 21 HOW TO ENSURE YOU’RE COMPLIANT 22 08 WHAT CAN YOU OFFER FIRST TIME DEVELOPERS? 24 —25 EasySource Launch IDENTIFYING THE RIGHT TYPE OF BRIDGING FINANCE 26 — 27 THE VOICE OF OUR INTRODUCERS 28 — 29 INVOICE & ASSET FINANCE 30 CONTACT INFORMATION 31 20

Being Gold

CONTRIBUTORS:

MICHELLE WESTLEY DEBBIE STAVELEY TRAVIS R R HURLOCK MARC GOLDBERG BRIGHTSTAR HEAD OF MARKETING PUBLIC RELATIONS SPECIALIST CREATIVE DIRECTION TOGETHER — OFFICIAL SPONSOR

03 FOREWORD BY ROB JUPP THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO up Jupp & ROB JUPP WELCOME TO BRIGHTSTAR’S GOLDEN EDITION OF THE HUB MAGAZINECEO, Brightstar

t 32 pages HUB 9 is our biggest edition yet! Our focus Clare Jupp, our People Development Director talks about winning has been on providing you with valuable information ‘The Best Business (under 249 employees) on the globe for people that will help your business and your clients, providing development’, at the 2016 Investor in People Awards in June and A you with insights into different areas of the specialist why our people are centric to everything we do here at Brightstar. lending market that you may not know as well as you would like to. In a time of economic uncertainty we believe it’s crucial that we As well as the regular commentary from every part of our business, continue to provide firm partnership to all of the intermediaries this edition is packed with the latest news, comments and inside whom we work with. information from across the specialist lending industry, including: We promise to continue to be at the forefront of innovation within Our official sponsor, Together discusses bridging finance and the the specialist lending sector. With that in mind, we are excited to be huge success of the sector. As one of the largest lenders in the launching with a range of completely new lenders, covering all five bridging sector, Together has continued to lend throughout the of the specialist sectors that we work in – with yet more to come. downturn of 2008 and perhaps unsurprisingly was one of the first We also continue to embrace positive change in order to give our lenders, post Brexit to offer assurances to the intermediary market partners, such as you, the greatest chance of winning new business. that it was very much ‘business as usual.’ Thanks for your continued support. We never for a moment take Michelle Westley, our Head of Marketing discusses the amazing this for granted. launch of our ground breaking sourcing and CRM system, Easy- Source which was introduced to selected partners on the 1st June.

04 NEWS SUMMER 2016

New office space & Brightstar’s Brightstar launches into ongoing expansion plan unsecured loans

rightstar has taken on 1800 sq ft of new office space Brightstar has teamed up with DotBroker to provide inter- adjacent to its existing office as part of its ongoing mediaries with access to unsecured loans for their clients. expansion plan. The bigger and better equipped DotBroker will soon be integrated with EasySource, and will enable office space which Brightstar will be moving in to during intermediaries to search for a whole selection of unsecured loans, November 2016, means its office space will double ranging from loans for people with a prime credit rating to those Bin size and will cater for an additional 20 members of staff. The with some adverse credit. office space which is currently being developed will support future capacity and will enable Brightstar to provide an even better service Unsecured loans are vital financial tools that many intermediaries for intermediaries. are asked about and most have no avenue to assist, and simply refer the client to their bank. Now they will be able to help their Having recently been named the Investors in People Gold clients by searching for the best value loan – and refer the Employer of the Year, the new office space will include dedicated processing to Brightstar via DotBroker, whilst earning up to 6% areas for people development, including its ‘MTF greenhouse’ for of its value. Where appropriate, the loan can even be compared staff training. Brightstar constantly strives to increase and improve its with a second charge mortgage on EasySource. This will cater for service for intermediaries and the adjoining office expansion project a client’s funding requirements in a fair and transparent way, while THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO is the next natural step. providing another income source for intermediaries. Brightstar wins global award for Kensington Mortgage Company Gold Employer of the Year launches with Brightstar

The good news and celebrations continue for us and just eight Brightstar became the first specialist distributor to add Kensington months after being awarded our IIP Gold Standard, Brightstar has to its lending panel. We offer all of Kensington’s core range of since been named the Investors in People (IIP) Gold Employer of residential and buy-to-let products, in addition to an 85% LTV the Year (up to 249 employees), beating more than 300 companies residential semi-exclusive. Rates on this 85% product start at from 29 countries across the globe. Brightstar won from the top 4.84% for a two-year fixed rate and 5.14% for a three-year fixed 7% of all IIP certified businesses in the world, officially making us rate. A pioneer in the specialist market, Kensington has been a global winner! Turn to page 20 where you can read about how writing mortgages for applicants with complex circumstances for Brightstar achieved Investors in People Gold status in record time more than twenty years, and specialises in lending to custom- and how your organisation can engage with this hugely valuable ers who are self-employed, contractors or have historic credit process. problems. Contact the Mortgages & BTL Helpdesk for further information on 01277 500 900, option 1 or submit your enquiry on The #MadeEasy Charter, Bright- www.easysource.co.uk star’s Vision & Company Values Brightstar sponsors Brightstar prides itself on making the lives of intermediaries easier. ‘ The Ladies Executive Club ’ It is therefore important that intermediaries know exactly what to expect from Brightstar from the outset, and the #MadeEasy Charter On the 24th of June, more than 20 leading women from the industry has recently been updated to help achieve this end. joined together for the Ladies’ Executive Club at the Ampersand Hotel in South Kensington, sponsored by Brightstar Financial. The charter, which is built on continual feedback from intermediaries, helps Brightstar to deliver an exceptional service. It also shows that The Ladies’ Executive Club is organised by leading industry WELCOME TO BRIGHTSTAR’S GOLDEN EDITION OF THE HUB MAGAZINE all Brightstar staff are committed to applying an individual, tailored publication Mortgage Solutions and brings together some of the approach to each case. leading women in the mortgage industry. The keynote speaker was social media guru Sarah Kerrigan, who addressed The recently revamped charter also gives intermediaries direct the importance of harnessing the power of social media. The access to a case manager who will manage their client applications fully engaged, mixed-ability group of social media users, all from initial enquiry to completion, because its goal is to make recognised the vital role that social media plays and the event an intermediary’s experience with Brightstar as easy and as provided attendees with an opportunity to share ideas, compare straightforward as possible. practices and network with other leading women from across the sector. The charter has been updated in line with Brightstar’s vision and company values which reflect where the company is today. In order to lead the way and help to shape the future of UK specialist finance, Brightstar sponsors local Brightstar: children’s charity J Embraces partnerships and recognises the value of strong Brightstar’s staff have chosen the Essex-based children’s charity working relationships. Kids Inspire as its 2016 charity. Over the course of the year, Bright- J Is ethical and operates with honesty and integrity to achieve star will host numerous fundraising events in order to raise much positive outcomes. needed funds for the local charity. Kids Inspire works with young people and their families in Essex who have suffered trauma, ne- J Has a passion for being the best in everything it does. glect or abuse. The charity helps young people to reconnect with J Encourages people development by working together to themselves and society by helping them thrive and develop a joy of share market knowledge and experience. learning. The Brightstar team is dedicated to giving back to local communities and causes, and looks forward to coming together as a team to help make a difference.

05 EASYSOURCE TECHNOLOGY

SUBMIT YOUR ENQUIRY IN JUST 90 SECONDS WWW.EASYSOURCE.CO.UK THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO

GROUNDBREAKING SPECIALIST SOURCING TECHNOLOGY GOES LIVE

LEARN ABOUT THE UK’S LATEST LEADING MICHELLE WESTLEY SINGLE-SEARCH TECHNOLOGY BREAKTHROUGH Head of Marketing

asySource went live on the 1st of June after two years in a client may wish to carry out modernisation works to increase development including extensive testing with our the value prior to sale, or re-finance onto a better mortgage stakeholders. Its key objective was to make it easy rate. It could be that they want to compare a re-mortgage with E for our intermediaries to quickly search for specialist a second charge for a direct cost comparison and without re-keying. finance solutions, whilst removing the uncertainty of how best to EasySource enables intermediaries to look at a short term finance finance their clients’ individual circumstances. We also wanted to solution, offering the client faster turnaround times with no require- replace our antiquated paper-based enquiry process with an online ment to service the loan until the point of re-finance or re-sale. submission portal and a state-of-the-art case tracking facility. The result is a ground breaking specialist sourcing and case management system, which makes it easy to identify the most appropriate HOW LONG DOES IT TAKE TO SUBMIT AN ENQUIRY? solution from a diverse range of lenders across one or more product The submission of an enquiry takes just 90 seconds to complete categories, including: with instant access to a list of available products, a plethora of filters and features including a downloadable evidence of research J SPECIALIST MORTGAGES document. The enquiry can then be converted to PDF and export- J COMPLEX BUY-TO-LET ed to the intermediary’s own client file. Upon submission of an UNSECURED LOANS J ’ SECOND CHARGE MORTGAGES ‘ COMING SOON enquiry, our team of experts will contact the intermediary to J BRIDGING FINANCE discuss the options available in more detail, including any potential to J COMMERCIAL FINANCE negotiate a bespoke rate. HOW DOES IT WORK IN PRACTICE? MORE THAN JUST A SOURCING SYSTEM EasySource compares the obvious capital raising re-mortgage EasySource is so much more than “just” a sourcing system versus a second charge mortgage where the intermediary can however, it also includes a number of features to make compare results side by side with an overall cost comparison intermediaries lives so much easier. Our research revealed our column. What is unique about EasySource is that the system takes intermediaries wanted greater visibility on the progress of their into account, details of the clients’ existing mortgage rate, monthly case so we responded by creating a platform offering access to payment and remaining term plus any early repayment charges and a ‘breadcrumb trail’ from sourcing to completion, 24/7, displaying fees for a more accurate comparison. EasySource can also be used the client requirements list, full case notes, messages and to compare different approaches for the same case. For example, milestones achieved to date.

06 EASYSOURCE TECHNOLOGY

www.EasySource.co.uk

“ SPECIALIST DOESN’T HAVE TO MEAN DIFFICULT ” THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO

GROUNDBREAKING SPECIALIST SOURCING TECHNOLOGY GOES LIVE There is a two-way messaging system, offering direct access to diary learns, the more they will earn, with the opportunity to spend our dedicated case management team; correspondence is copied their rewards instantly, or save for something bigger from a huge directly to the users’ own mailbox and archived to the client file. catalogue of retail gift vouchers, experiences and some of the latest Automatic notifications are sent to both the intermediary and gadgets. dedicated case manager, summarising changes to the client file including stage changes, milestone updates and documentation; Already we have received incredible feedback from our introducers additionally, a weekly summary of their live pipeline, with the number with 87% of participants in our poll stating that EasySource was of outstanding items for each case. indeed #MadeEasy

Adam Tarr from Amber Mortgage Solutions said: ‘The system is INSTANT UPLOADS & DOWNLOADS really well designed, clean and easy to navigate and I was able to Intermediaries can access key documents such as the lender produce a quote for my client, in their home, really quickly. The case offer and valuation report and view the tailored list of information tracking system is great and I really love the way I can log in and required by the chosen lender, including the ability to upload and check the progress of my cases from my mobile or desktop at any download documents into and from their own system. time. I no longer have to waste time calling in to check my contact has received the post on a case for example.’ A CLEAR AUDIT TRAIL EasySource will record every key stroke, providing a full audit trail should there ever be a requirement to review the client file. CONTACT THE EASYSOURCE HELPDESK ON: REWARDS T: 0300 303 3130 EasySource will also provide intermediaries with rewards for feed- back and engagement by driving knowledge of specialist finance, E: [email protected] helping to achieve positive client outcomes. The more an interme-

GROUNDBREAKING POWERED BY SPONSORED BY

07 EASYSOURCE TECHNOLOGY

OFFICIAL LAUNCH EVENING 29TH FLOOR, ALTITUDE 360° LONDON MILBANK

SUBMIT YOUR ENQUIRY IN JUST 90 SECONDS WWW.EASYSOURCE.CO.UK THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO

KEY MOVERS & SHAKERS OF THE SPECIALIST FINANCE SECTOR WITNESSED OUR OFFICIAL TECH LAUNCH AT THE PRESTIGIOUS MILLBANK TOWER

e have worked on this technology for over two years with the aim of transform- ing the way intermediaries work. Brightstar’s revolutionary new EasySource application is a multi-modular platform which looks at all available options for W a client and provides intermediaries with better, more transparent outcomes every time. With this system I truly believe that we are leading the way and shaping the future of specialist finance. WATCH OUR AMAZING VIDEO ROB JUPP SCAN THE QR CODE: Chief Executive — ­Brightstar PASSWORD: launch

MATT ANDREWS Chief Executive — ­Bluestone “Brightstar is trailblazing with the launch of its EasySource sourcing system. At last there is a way of comparing different specialist mortgages; this has been long overdue and I expect EasySource to really turn the world of sourcing on its head. I believe this will be the start of things to come and it is great to see Brightstar leading the way.”

ANDREW MONTLAKE Founding Director — ­Corecco Group “EasySource is a funky new specialist sourcing system. In terms of technology helping brokers, this looks like a market changer delivered with a passion to do what is right for the consumer.”

JOHN JENKINS Director, Omni Equity Partners & Non-Exec Director — ­Brightstar “Brightstar have a great team and the launch of EasySource gives them a fantastic platform. EasySource is innovative and powerful and will change the way the market operates. It keeps Brightstar at the forefront of a fast developing space.”

MILLIE DYSON Head of Marketing & Communication — MTF “A fantastic launch to a ground-breaking sourcing system that will change the face of the UK specialist lending sector.”

PAUL BRETT Business Development Director — Foundation Home Loans “Brightstar is a forward thinking company that has the courage to challenge the market and they are leading the way with the launch of EasySource. Specialist lending is back and brokers need to embrace this so that their clients do not come back to them two years down the line and ask them “why didn’t you offer me this?” EasySource provides them with an easy but comprehensive way of comparing all the options and finding what really is the best option for the customer.”

PLEASE DIRECT ALL PRESS RELATED ENQUIRIES TO: [email protected]

08 SECOND CHARGE MORTGAGES SECOND NATURE THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO

We assess every second charge mortgage on its merits, not a series of complex computer scores. By mixing technology and human interaction we ensure that if a deal is affordable, makes sense and provides a good customer outcome, we will lend.

5

Make Second Charge Mortgages Second Nature WINNER Best Secured Loans Product Range

Shawbrook Bank

DISCUSS YOUR CASES TODAY

T 0345 600 7681 [email protected]

WWW.SHAWBROOK.CO.UK

RATES FROM 4.49% + BASE RATE LOANS UP TO £1M 3 - 25 YEAR TERMS

THIS ADVERTISEMENT IS INTENDED FOR PROFESSIONAL INTERMEDIARY USE ONLY AND MUST NOT BE DISTRIBUTED TO POTENTIAL CLIENTS

210x297_SB_SL_2016.indd 1 23/03/2016 09:33 SECOND CHARGES BY BRADLEY MOORE

SUBMIT YOUR ENQUIRY IN JUST 90 SECONDS WWW.EASYSOURCE.CO.UK THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO

STRONG CONTENDER POST MCD PRESENTS NEW CONSIDERATION

UNDERSTANDING VALUE & TAKING IT TO THE MASSES BRADLEY MOORE “ SUDDENLY YOU HAVE A VERY COMPELLING Director — Second Charge Mortgages ALTERNATIVE TO A RE-MORTGAGE ”

he Mortgage Credit Directive helped to serve to bring second the full £200,000 at a sub 5% rate and complete the mortgage within charge mortgages to the masses, but are you taking them 3 weeks. The product has a very low early repayment charge seriously? The challenge now is to get mortgage meaning the cost of re-financing the second charge is not going to be T intermediaries to fully understand when they can be valuable. a hindrance should the need apply. Thankfully the low first charge rate served to be the trigger on that particular case, other common Post MCD the advice process is much more aligned to that of its reasons are retaining interest only, lending into retirement, borrowing bigger brother the first charge market. Add to that continued innovation over longer periods and as with the example given, borrowing more than on criteria and the lowest rates the sector has seen for many years and a re-mortgage will provide, sometimes it is simply that funds are required suddenly you have a very compelling alternative to a re-mortgage. quicker than a re-mortgage permits and this is the client’s primary need.

Lenders have also satisfied the need for the sector to have Tracker, We are working hard to bring our intermediaries “up to speed” as we Discount and Fixed rates which previously had been non-existent as accept that there are differing levels of knowledge and experience as far the sector relied on standard variable rates which understandably left as the sector is concerned, some intermediaries may know the sector borrowers feeling exposed. of old and see it as a “subprime” market and others may simply have never considered the option, the sector today is very different to that of Suffice to say second charge mortgages are not going to satisfy every years gone by and the quicker that is understood the better it will be for borrower’s need but more and more they are not just stepping in as intermediaries and their clients. a “fall back” exercise when a re-mortgage hasn’t panned out but are competing with them side by side.

We recently completed a case whereby the client had been seeking further borrowing of £200,000 to purchase an investment property, the re-mortgage route had led to a shortfall in borrowing of some £40,000 and with no contingency in place the purchase was rendered null and void, the intermediary thankfully spotted that the client was enjoying a sub 2% first charge rate which led her to pick the phone up to Brightstar to determine the options available via a “second”. We were able to secure

10 SECOND CHARGES BY BRADLEY MOORE

CRITERIA AT A GLANCE SPECIALIST DOESN’T HAVE TO MEAN DIFFICULT

BTL UP TO 85% LTV

RESIDENTIAL UP TO 95% LTV THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO 3 WEEKS TO COMPLETE A LOAN ON AVERAGE

MAX LOAN SIZE £2.5MILLION, MORE ON REFERRAL STRONG CONTENDER NO UPFRONT FEES NO LEGAL FEES POST MCD PRESENTS NEW CONSIDERATION LOW EARLY REPAYMENT CHARGES ANY LEGAL PURPOSE INCLUDING BUSINESS #MadeEasy

SO WHAT DOES THE MARKET LOOK LIKE IN 2016?

Brightstar works with 14 lenders covering all things residential and BTL, from super vanilla through to heavy adverse. Our average loan size is typically upwards of £60,000 and the most common loan purposes are debt consolidation and home improvements, that said the biggest upwards trend has been capital raising for property purchases.

We are able to offer both an advised process and a packaged only route, satisfying the need of both independent and restricted intermediaries who haven’t brought second charge within their own scope of service. Finally, my team are all CeMAP qualified and have over 40 years’ experience in the sector, meaning they are not only suitably qualified to give advice but have the required knowledge of the sector to ensure they source the best solution for our intermediaries’ clients. #MadeEasy SECOND CHARGE MORTGAGES HELPDESK T: 01277 500 900 OPTION 2 E: [email protected]

11 MORTGAGES & BTL BY CHRIS BRAMHAM

SUBMIT YOUR ENQUIRY IN JUST 90 SECONDS WWW.EASYSOURCE.CO.UK THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO

THE SELF RAISING RISE OF THE SELF EMPLOYED

CHRIS BRAMHAM “ AND WHY THEY SHOULDN’T BE TURNED AWAY ” Director ­— Mortgages & BTL

n January 2016, labour market figures revealed that more a growing need for even more lenders to enter the market. There- people are starting to realise the benefits of self-employment and are fore, although these cases are more specialist, it is a big niche that is opting to become their own boss. However, although the number continuing to grow and develop due to increasing demand from the I of self-employed people in the UK is at its highest level in forty self-employed. years, too many of these potential borrowers are still being excluded from the mortgage market. This begs the question; why are some lend- ers still shying away from developing mortgages for the self-employed? A MISSED OPPORTUNITY In my opinion, many intermediaries turn potential clients away simply because they are unaware that there are specialist lenders out there THE UNDERSERVED BORROWER who lend to, and specialise in the self-employed borrower, and who It is true that applications for the self-employed borrower are more have the experience to take on the buoyant sector. In fact, the vast difficult to assess because the category covers many business types majority of lenders who lend to the self-employed look at each case and varying levels of income, and of course the possibility that there may on its personal merits and some are even tailored specifically for the be periods with no income at all. If the borrower doesn’t have a regular self-employed market. income paying the same amount every month, some conventional lenders decide they either cannot or will not help these people, Our primary aim at Brightstar is to ensure the intermediary community while the majority of main high street lenders want to see two to three knows that there are accessible specialist solutions available. There- years’ worth of accounts or tax returns. fore, the specialist team works alongside our lender partners to develop products in order to fill the gaps created by the mainstream lenders INDIVIDUAL MERITS while taking the time to look at each case on an individual basis. Generally speaking, because it is their own business, the self-employed So why disregard potential self-employed borrowers who are now an are motivated to do whatever it takes to increase their income and absolutely fundamental part of the UK economy when you can retain improve and grow both their business and its profits. Due to this, they business by passing them on to a specialist? I am optimistic for the are often less of a risk than many employed people and it is important to borrowing prospects of the self-employed and it would be a missed remember that each case depends on the individual’s circumstances and business opportunity if intermediaries were to ignore this source of requirements. Some lenders are already swamped with vanilla clients potential borrowers, particularly as these cases can be handled by so they don’t necessarily have the bandwidth to look at other markets. experienced specialists like Brightstar. However, although there are some lenders out there who cater for the self-employed or people with more than one income, there is clearly

12 THE SELF RAISING RISE OF THE SELF EMPLOYED

THIS ARTICLE IS FOR INTERMEDIARIES ONLY AND SHOULD NOT BE SHOWN TO POTENTIAL CLIENTS. T The solutionisoftento“handoff”aspecialistpartner. clientsiftheyaretoearntherightkeepthemasclients. standard could getworse.Intermediariesneedtofindsolutionsfornon- to getamortgageandthirdofintermediariesbelievetheproblem arefindingitincreasinglydifficult revealing thatpeopleintheir40s Older borrowersalsositoutsideofthecriteria,withresearch lenders oftenrequirethreemonths’payslips. those with unusual income do not fit the traditional benchmarks, as plans which emergedin2007 fromthecreditcrisis.Inaddition, sector isaliveand thriving. innovate theirproposition, which addsfurthertestimony thatthe like Kentand Precise continue to develop and Reliance, Saffron Loans, anditislikelywewillseemore emergingin2016.Stalwarts the marketincludingBluestoneMortgages andFoundation Home ing apositiveshiftinthesectoras moreentrantscontinuetoenter lenders whoarenervousaboutthese specialistcases,wearesee- tive stepsforwardinrecentmonths. Althoughthere are still some posi prime mortgages,butitisevident thatthemarkethastaken There havenotbeenmanyspecialistlendersdealingwithcomplex #MadeEeasy normalanymore. necessarily unusual casesenteringthespecialistmarketbecausenormalisn’t knowledge. Asaresult,weareseeinganincreasingnumberof orwerenervous ofbasedonlimited either didn’tunderstand specialist market,andareseekingsolutionsthatinthepastthey This isbecausemoreintermediaries are becomingawareofthe a 45percentincreaseinthenumberofcasespastyear. 12 months,echoed inourmortgagedivisionwherewehaveseen There hasbeenasignificantgrowthinourbusinessoverthepast file, forexample. credit constructionandastandard income,standard as standard classed asa‘vanilla’clienttheymaynottick alloftheboxes such mean thereisanythingwrongwiththeborrower. They maynotbe on.However, banks donotwanttotake thisdoesn’tnecessarily A complexprimemortgagereferstocasesthatthehighstreet THE KEY INGREDIENTS a poorcredithistory. This includesdebtmanagement many potentialborrowersbeingrefusedfinancedueto lending criteriaincludingthosewithadversecredit, here arenumerouscasesthatdonotfitthestandard RISE TO THE CHALLENGE COMPLEX PRIME MORTGAGES & ELIMINATING FEAR OF THE UNKNOWN MORTGAGES &BTL MORTGAGES BY BRAMHAM CHRIS -

13 partner isaclientthattheywillretain. can provide a solution for by “handing off” to a specialist distribution in thisfieldtoprovidesolutionsfortheirclients.Everyclientthey as much astheycanand,moreimportantly, theyshoulduseexperts mediaries shouldnotfeartheunknownandmustcontinuetolearn In myopinion,themarketwillcontinuetogrowanddevelop.Inter sector haveamuch morethoroughassessmentprocess. when inrealitytheoppositeappliesandlendersspecialist tion thattheregulationaroundspecialistmarketislessrigid regulatory riskassociatedwithcomplexity. There isalsoapercep There isclearlyananxietyamongstintermediariesandadditional THE UNKNOWN services areavailable. educated ontheroutetomarket,aswellwhatproductsand of thespecialistarea,andintermediariesshouldcontinuetobe that drivesalotoflenderbehaviour. Ourjobistoreducethisfear not seeitasaviableoptionorsolution,andisthispreconception the specialist market do and intermediaries who do not understand complex cases albeit with some reticence. Many fear the unknown In my opinion, the intermediary market is willing to engage with more 77 500 900 OPTION 1 OPTION 77 900 500 E: T: &BTLHELPDESK MORTGAGES

MORTGAGES 012 @BRIGHTSTARHUB.CO.UK - -

Real Life Lending up to 85% LTV Life can be complicated, especially when not all of your clients fit into the neat categories that come with standard mortgage applications. At Kensington we like to think a bit differently. With a little help from us your ‘complex cases’ don’t have to be complicated.

Residential Buy to Let Applicants with adverse credit: Up to 80% LTV - Current debt management plans Rental coverage of 125% at 5.50% - Defaults, secured loan arrears or CCJs over 24 months No minimum income requirements for existing landlords - Communications defaults ignored Maximum loan size £1.5m Self-employed applicants who want to use their most recent year’s figures Let to Buy available Contractors with less than 12 month’s history, if contract is within an existing profession Clients who require bonus, overtime or second job income for affordability

Find out more about how Kensington can help your clients. Call the Brightstar Helpdesk on 01277 500 900 (option 1) and ask to talk about Kensington.

THIS INFORMATION IS FOR INTERMEDIARIES ONLY

Kensington and Kensington Mortgages are trading names of Kensington Mortgage Company Limited. Registered in England & Wales: Company No. 03049877. Registered address: Ascot House, Maidenhead Office Park, Maidenhead SL6 3QQ. Kensington Mortgage Company Limited is authorised and regulated by the Financial Conduct Authority (Firm Reference No. 310336). Some investment mortgage contracts are not regulated by the FCA. INTERVIEW BRIGHTSTAR BDM

A-DAY-IN-THE-LIFE OF A BRIGHTSTAR BUSINESS DEVELOPMENT MANAGER

Real Life Lending up to 85% LTV Life can be complicated, especially when not all of your clients fit into the neat categories that come with standard mortgage applications. At Kensington we like to think a bit differently. With a little help from us your ‘complex cases’ don’t have to be complicated. FOCUS POINT Residential Buy to Let AN INTERVIEW WITH CHRISTINA SMITH

Applicants with adverse credit: Up to 80% LTV ormer mortgage intermediary Christina Smith is one of regularly update the internal spreadsheet which allows me to see if - Current debt management plans four business development managers at Brightstar and there are any trends in terms of our most frequent users, who the Rental coverage of 125% at 5.50% covers all of London, Essex, Kent, Middlesex and part of introducers are and which of our various networks offer the most - Defaults, secured loan arrears or CCJs over F Surrey. levels of business. 24 months No minimum income requirements for existing landlords I receive system generated emails from our EasySource technology - Communications defaults ignored WHAT IS YOUR ROLE AT BRIGHTSTAR? twice daily, detailing any new registrations, enquiries, applications, Maximum loan size £1.5m My job is to create awareness for Brightstar while updating offers and completions. It is great to have a ‘real-time’ case manage- Self-employed applicants who want to use intermediaries on the vast range of services we offer. I visit ment system to refer to 24/7. intermediaries in their office, at home or wherever works best their most recent year’s figures Let to Buy available for them in order to talk through the options and processes Although each day is different from the last. On Wednesdays of each of our specialist divisions; mortgages and buy-to-let, I spend time catching up with our regular London intermediaries Contractors with less than 12 month’s history, second charge mortgages, bridging, commercial and development and get feedback from them on the service we have provided. if contract is within an existing profession finance. WHAT CHALLENGES ARE YOU OFTEN FACED WITH? Clients who require bonus, overtime or second WHAT DOES AN AVERAGE DAY LOOK LIKE? Due to the nature of the enquiries we receive, we deal with lenders job income for affordability When I get home from work, I look at my diary for the following day who work on longer SLA’s than the high street. By the time cases and plan my route which of course depends on where the interme- reach us, they are often urgent so responses are needed ASAP. diaries are based. In terms of managing my diary, my colleague who We deal with this by managing client expectations by making is office-based books the majority of my appointments, allowing me intermediaries aware of the time scales they can expect. Find out more about how Kensington can help your clients. to optimise my time on the road. I will also contact intermediaries from our database to see if I can arrange to meet them in the spare time I have between other scheduled meetings. HOW HAVE PAST EXPERIENCES PREPARED YOU? Call the Brightstar Helpdesk on 01277 500 900 (option 1) Having come from an intermediary background myself, I understand Although I travel independently, I may occasionally ask one of the what their frustrations can be so I can empathise with them and and ask to talk about Kensington. consultants to accompany me if I think it would benefit them as well ensure we get things right the first time so we can make their lives as the intermediary, due to their expertise in their specialist field. easier. I also research the intermediaries I am meeting beforehand in order to get an idea about what they cover as well as any specialisms they may have. On some days, I may visit up to four intermediaries and in WHAT MOTIVATES YOU TO DO WELL? between meetings, I catch up on voicemails and emails. Job satisfaction is key for me and with this role I have been fortunate Some enquiries may come through me and I often forward them enough to find it. I love what I do and being able to help intermediar- to the relevant specialist divisions to see if they can help with any ies with cases that they potentially may not have been able to place THIS INFORMATION IS FOR INTERMEDIARIES ONLY cases the intermediary may have. I also check our sales reports and means that we make a real difference.

Kensington and Kensington Mortgages are trading names of Kensington Mortgage Company Limited. Registered in England & Wales: Company No. 03049877. Registered address: Ascot House, Maidenhead Office Park, Maidenhead SL6 3QQ. Kensington Mortgage Company Limited is authorised and regulated by the Financial Conduct Authority (Firm Reference No. 310336). Some investment mortgage contracts are not regulated by the FCA. 15 INTERVIEW OFFICIAL HUB #9 SPONSOR

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BRIDGING SPOTLIGHT SUCCESS OF THE BRIDGING SECTOR

GARY BAILEY DISCUSSES THE SUCCESS GARY BAILEY OF THE BRIDGING SECTOR Sales Director at Together

ridging finance is enjoying increasing popularity, with reports According to industry figures, the most common use of bridging it is now growing at a much faster pace than the mainstream finance in 2015 was for mortgage delays, whilst other uses included mortgage market. Here at Together, our most recent figures refurbishments and also business purposes. This highlights the breadth B for the quarter ended 31 March 2016, attest to continuing of bridging finance and what it can help customers achieve - from growth, with the value of loans up 35% on the same quarter in 2015. repairing residential property chain breaks to releasing cash flow for businesses. This growth is part of the wider picture of the boom in alternative finance, which has flourished in recent years as a result of the Given the many varied purposes which bridging loans can serve, it’s sometimes limited access to funding from mainstream lenders. important that lenders deliver the products that have the sort of flexibility that brokers want for their clients. At Together, we offer bridging loans We recently carried out research across the UK to understand with terms from three to twelve months, and up to 75% loan to value, or perceptions of current access to loans and finance, which reaffirmed 100% with additional security. this. For example, over a third believed that there is now less flexibility in borrowing money than before the credit crunch, with almost a half We consider all property types and our customers range from employed stating they believed that credit rating makes the biggest difference in and self-employed to limited companies, sole traders and partnerships. a loan being accepted. Speed and service are essential when it comes to providing bridging With specialist lenders like ourselves, this isn’t the case. We view each finance, and we’re proud of our exceptional record in this arena. We lending decision individually, taking a common sense approach, and it’s were recently awarded Best Service from a Bridging Finance Provider this ability to deliver fast and flexible finance when it’s needed that’s and we work closely with our broker partners and our network of valuers, helped us to achieve such growth. surveyors and solicitors to make sure that we deliver funds as efficiently as we can. Consistently low average monthly interest rates have also aided the sector’s growth, whilst the changing perception of bridging itself is For example, in one case we were able to fund a bridging loan in just an important factor. It has grown markedly as a sector, transforming two days. We were approached by a broker whose client had been let notions of its uses and suitability in the process. Bridging finance is now down at the eleventh hour by his previous lender and risked losing the increasingly seen as an ideal short-term funding solution for a wide deal and facing penalties. variety of scenarios.

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BRIDGING SPOTLIGHT SUCCESS OF THE BRIDGING SECTOR

He needed a bridge of £470,000 and turned to Together for We will normally accept the security of a property which is up for help. The purpose of the loan was to fund a buy-to-let property sale (where the property is already on the market) or where a grant of he had bought at auction and re-finance an existing loan on his probate has been issued. In short, there is a clear, imminent exit in residential property, valued at £1.8 million, with a planned sale as sight, not a speculative outcome. the exit strategy. Our rates for regulated bridging start from just 0.65%, and As a result of our common sense and speedy approach, the funds competitive pricing combined with flexible terms and efficient were delivered in a phenomenal 15 working hours, thanks to excellent service set us apart. packaging from the broker and an online submission through our portal, with legal teams on both sides liaising closely to get the deal To give an example, we recently completed a regulated bridging done quickly. loan for £1.65 million. The client wanted to repay his existing loan as he was putting his property on the market, valued at £2.9 It’s cases like this that showcase how bridging finance can deliver million, in order to downsize. His exit strategy was to repay the full outstanding results and real long-term gains, and our brokers know amount on sale of the property. The client’s broker approached us they can trust us when it comes to ensuring the best possible because they trusted us to deliver the funds against the timescales, outcome for their clients. and helped us by providing all the relevant information we needed to make it happen.

REGULATED BRIDGING This is just one of many success stories, and as we grow this area of At Together, we also now offer a regulated bridging product, which the business, we look forward to helping more customers, through includes a 12-month roll-up and no early repayment charges. our trusted broker partners. Although this product was only launched as a pilot in December 2015, we’ve already received industry recognition as a result and Whether it’s regulated or unregulated, bridging finance can help were recently nominated as Regulated Lender of the Year. customers unlock the short-term finance they need.

The use of a regulated bridge has become more widely accepted as Find out more at www.togethermoney.com customers recognise that it can allow them to access funds much more quickly than traditional mortgage products. Although there are a number of reasons why customers may take out a regulated bridging loan, the main ones are property purchase and refinancing. CALL THE BRIDGING FINANCE HELPDESK It’s the ideal bridge to purchase new property for someone who owns an unencumbered property, with feedback from brokers T: 01277 500 900 OPTION 3 suggesting that three or four out of every 10 successful cases are likely to be where the customer’s existing property is E: [email protected] unencumbered.

17 COMMERCIAL BY ROBERT COLLINS

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LIMITED LOOPHOLE ANALYSING LTD COMPANY OPPORTUNITY

ROBERT COLLINS GREY AREAS OF SPECULATION AND A POTENTIAL LOOPHOLE Director — Commercial Finance

reviously, property investors could claim all of their interest the property if they need to sell it, and it could even end up being treated payments as an expense against their rental income and to as a disposal by the company. If someone wants to transfer their prop- pay tax on their net profit. However, as a result of the Summer erties to a limited company then the company has to buy the properties P Budget, it is understood that this will no longer be allowable from them and will have to pay stamp duty as well as capital gains tax. as an expense for private BTL landlords. They will be able to claim Such corporate structures come with costs for legal set up as well as a credit at the basic rate of tax and this change will be phased in from administration fees. April 2017. The consequence of these proposed changes is that private BTL landlords will be disadvantaged compared to larger and corporate landlords. A MOVE TO PLUG THE TAX LOOPHOLE Although some intermediaries predict purchases on homes by limited companies will increase further, it is feasible that this could be seen as a COMPANY OWNERSHIP loophole by a future government. This means the investor would need to Some investors are interpreting the current changes and looking to take professional tax advice from a qualified accountant who is familiar mitigate this loss by transferring their property portfolio to corpo- with the laws to ensure it is worth their while transferring the properties. rate structures by setting up a limited company for their properties. Although there are many considerations to setting up a company or a special purpose vehicle, there are at least more lenders launching with GREY AREAS OF SPECULATION limited company BTL mortgages. Generally speaking, these tend to be Although it seems that the government is more in favour of institutional the more specialist BTL or commercial lenders, although most still want BTL investors than the smaller investor, there is no telling if it will be the investor to have the deposit value in the limited company. On the passed as a law. However, if it was, the market could take a tumble. It other hand, those wanting to invest in a property may decide to switch can be argued that it would be less profitable for smaller landlords and their investment from residential to mixed use or commercial properties some may make a loss and have no choice but to sell the property, and because the same rules do not apply. house prices could decrease as a result.

Having all your eggs in one basket can often be a high risk strategy. THE POTENTIAL PITFALLS Therefore, due to increasing speculation and varying interpretations of The potential pitfalls for companies, unlike standard BTLs, companies BTL landlords using limited company structures to purchase properties, are that they are liable for corporation tax on income at 20% today and the commercial finance industry must remain vigilant and prepared for reducing to 18% in the next 5 years. It is important to remain cautious any additional tax or regulatory changes that may arise in the near future. as investors could potentially trigger a large capital gains tax liability on

18 MORTGAGESCOMMERCIAL & BTL BY CHRISROBERT BRAMHAM COLLINS

NO MORE MR. SHY GUY BRIGHTSTAR ASKS, WHY SHY AWAY FROM COMMERCIAL LOAN ENQUIRIES WHEN A SPECIALIST CAN HELP? THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO

Commercial finance covers a broad spectrum of lending and offers a wide scope of opportunity for you and your clients and, by not adding it to your offering, you could be missing out on an income stream. If you are approached by a potential client who is an ‘unusual borrower’, such as pension funds, limited companies and charities, specialists like Brightstar can help.

LIMITED LOOPHOLE INCREASING DEMAND FACTS & FIGURES

e have seen a good level of ongoing demand for nterest rates start from around 2.5% over the base rate, ANALYSING LTD COMPANY OPPORTUNITY lending on mortgages for commercial owner- lender fees start from 1% and the majority will typically offer occupied buildings. With interest rates at historic 20 to 25 year repayment terms with a maximum of 80% LTV. W lows, many business owners are looking to swap I In addition, interest-only facilities can be arranged, but they rental payments for mortgages on properties such as retail units, tend to have a higher interest rate. The lender will typically ask for offices or any commercial premises used by the business. a recent set of financial accounts, bank statements and details of the property to be purchased. There are a few ways directors can do this; personal names, limited companies, pension funds or trusts. One of the main reasons Commercial owner-occupied business mortgages are by no means why many directors are buying properties through their business is ‘off the shelf’ loans. As a result, intermediaries that do not deal in because it is often viewed as an investment, as rent is seen by the commercial lending sphere often do not even consider master many as dead money. In addition, the acquisition of a proper- intermediaries trading in these specialist areas. Therefore, instead ty can add stability to a business, the property itself can become of turning away potential clients, bringing a specialist like Brightstar a significant asset and the business is often worth more as the asset on board, which has the contacts and market knowledge, will help appreciates. to get your client the most suitable deal.

On the other hand, those who personally own business premises Commercial finance presents considerable prospects for those can get their companies to pay them rent and it provides additional that can adapt to the shifting environment. Although some will flexibility as the individual and the company are separate legal enti- continue to take a cautious attitude towards niche clients, it is ties. For example, we have clients whom have sold their businesses, time that more intermediaries realised the business potential for but retained the premises as a long-term investment maintaining the commercial finance because demand is strong and growing. rental payments from the new business owners.

FLEXIBLE APPLICATION PROCESS

It is quick and easy for any intermediary with a potential commercial client to apply. Simply log on to: www.EasySource.co.uk

Of course if you just want to chat through the options just ‘phone a member of the team on:

01277 500 900 option 4

or email us at [email protected] #MadeEasy

19 IIP GOLD BY CLARE JUPP THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO

” “ BEING GOLD WHAT IT MEANS FOR OUR INTRODUCERS

INVESTORS IN PEOPLE WHAT IT MEANS TO GET GOLD BY CLARE JUPP WHAT IT MEANS FOR INTERMEDIARIES & BRIGHTSTAR Director — People Development

chieving the Investor in People Gold standard has been In short, our IIP journey has been absolutely amazing; it enabled us a huge achievement for Brightstar, for which we all feel to benchmark ourselves against a set of challenging performance justly proud. We are one of only 1,047 companies in the indicators, gave us the opportunity to confirm and celebrate what we A entire country to hold the Gold standard: that equates to were already good at and gave us pointers of what to do next. Indeed, just 0.02% of all businesses in the UK! the most valuable part of the process was identifying for us the working practices, behaviours and ethos that we should aspire to in order to be Recommended by IIP as an exemplar company and case-study an outstanding organisation. organisation, we feel assured that when it comes to our people and the management and development of them, we are doing an outstanding Achieving the IIP Gold standard is a huge endorsement of everything job. Indeed, the Investors in People framework sets the standard for that we believe in at Brightstar and everything that we work to achieve. better people management and is the sign of a great employer, an Our fundamental ethos is to develop our staff,creating a fun place to outperforming place to work and an organisation with a clear work for people who are passionate about what they do. This training commitment to sustainability. and development starts as soon as someone joins us and runs right to the very top of the business. We believe that this continuous In order to achieve Gold accreditation, Brightstar needed to achieve development enables us to recruit and retain the highest quality staff 165 indicators. We achieved 173 of the 195 available, with the assessor and to provide higher levels of engagement and service both to the bro- saying that we could have achieved even more had more criteria been kers who place business with us and everyone else who deals with us. measured! We went through a two-day assessment with an assessor who spent time interviewing staff and examining all of the company’s I personally believe that Investors in People is a must for any organisation, practices. It was a thorough but exhilarating process. Achieving the however large or small and from any sector. Indeed, research clearly Gold was everybody’s achievement and this was a crucial and highly shows that whatever sector or industry, size or market, organisations valuable facet of the whole experience. working to the Investors in People standard increased efficiency, productivity and employee engagement. Investors in People organisations Our IIP assessor, Allan Churchman identified the cohesion and are also more profitable, sustainable and optimistic about the future. motivation that our team demonstrated saying, “(that) in more than twenty years of working with IIP, I have never had such a positive I also feel that working the IIP way also brings a sharper understanding approach from all levels of an organisation. I could not believe the of your business and people. Understanding your organisation’s passion that people had. Everyone there is pulling together…. A truly performance against its objectives creates clarity around how and where outstanding company.” you can improve. A clearer vision enables you to channel resources more effectively and to harness the talent of your people towards achieving the organisation’s goals.

20 IIP GOLD BY CLARE JUPP

2016 IIP GLOBAL WINNERS INVESTORS IN PEOPLE GOLD EMPLOYER OF THE YEAR

he good news and celebrations continue for us and just We are all incredibly proud of achieving this award and believe that each eight months after being awarded our IIP Gold Standard, and every one of us has contributed to achieving this success. We have Brightstar has since been named the Investors in People (IIP) a strong ethos of teaching and learning across the whole business and T Gold Employer of the Year (up to 249 employees), beating a commitment to challenging teams and individuals so that they perform more than 300 companies from 29 countries across the globe. Bright- to their optimum. star won from the top 7% of all IIP certified businesses in the world, officially making us a global winner! The grand final of the Investors in People Awards took place on the 29th June at Old Billingsgate Market, London and the glitzy 1920s themed The IIP awards celebrate the best people management practices awards evening was hosted by television and film actress Sally Phillips, amongst IIP accredited businesses and, despite the high number most famously known for her supporting role in Bridget Jones’s Diary. of global entries, only six businesses made the final short list, thus positioning us amongst the very best companies in the world in terms of Discover how Brightstar helps to support its team members by reading people management. the case study detailed below:

” “ IIP & HOW TO ACHIEVE IT ” VIEW OUR STEP-BY-STEP GUIDE “ BEING GOLD Scan this QR code: WHAT IT MEANS FOR OUR INTRODUCERS

WORKING IT VOICE OF THE INVESTED HEAR FROM ONE OF OUR WORKING MUMS - JO LOGAN, BRIDGING FINANCE SPECIALIST

HOW DID YOUR JOURNEY WITH BRIGHTSTAR START? WHY DO YOU THINK YOU’VE BEEN SO SUCCESSFUL? had worked with our CEO, Rob Jupp at various companies from I like to think it’s because I care very much about both our introducers’ 2001-2010. During the economic downturn, I spent a few years business and ensuring we achieve the best possible outcome for them. in a customer service role in the medical sector. In 2013 I received I respect that we are responsible for the introducers’ reputation when Ia call from Rob, to say there was a role for me at Brightstar if they have referred their clients to me and I think that shows; my stint as I wanted it. Having had the benefit of working with Rob and the a customer service adviser definitely helped me achieve this mind-set. management team previously, I didn’t need to think about my decision; The ‘growing your own’ philosophy at Brightstar has also allowed me to my mind was made up from that very moment! I started off as an admin- learn hands on and whilst having the CeMAP qualification is essential, istrator for the Bridging & Commercial teams but when they separated my experience prior to taking the consultant role was extremely valuable. into divisions in their own right, I decided my passion was in Bridging Finance as I loved the fast paced nature of the sector. HOW DID THE MANAGEMENT TEAM HELP YOU GROW? Aside from empowering me to make the decision to step up from an WHAT IS YOUR CURRENT ROLE? admin role to that of a consultant, they have provided me with some During the year spent in my role as an administrator, I’d become more excellent training including paying for me to take my CeMAP exams. and more pivotal in the process of problem solving and seeing cases I sit on a number of company committees which enables me to have a through to completion; I enjoyed helping our introducers’ clients realise voice in the decision making process. We are rewarded for our success their dreams and wanted to be more involved in matching lenders to through a variety of schemes and that recognition results in the desire to each client’s individual circumstances. One of our consultants left the continually exceed expectations. As a working mum I’m afforded a great business so he could work closer to home and the management team deal of flexibility to attend events such as school plays and sports days asked if I’d like to make the leap and become a consultant in my own which is really important in managing my work life balance. right so I did! Since starting my new role I have achieved so much, including receiving the top producer award for the entire company in 2015!

21 COMPLIANCE FOCUS ON INTERMEDIARIES THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO

COMPLIANCE REVIEW HOW THE FCA SUPERVISES FIRMS

BY ELIZABETH HARRIS HOW TO ENSURE YOU ARE COMPLIANT Head of Risk & Governance

he FCA regulates over 56,000 firms with a supervision for the behaviours you promote and reward. You must decide what model that is either proactive or event driven, otherwise type of culture is suitable for your firm, and demonstrate appropriate known as reactive. They visit a number of firms each year behaviours from the top down. An effective culture will ensure that T to identify how their processes, procedures and outputs you treat customers fairly in everything you do. measure up to the regulatory standards required. So, if you are expecting a visit from the FCA, it is good preparation Thematic, proactive reviews are often planned in advance with the to be able to confidently answer the following questions about your firm and will review specific areas of the financial service industry. business: Less commonly, the regulator may target specific firms as the result of information received about performance. Information could come from data analysis, whistleblowing, or from complaints by the public. J How does our sales process work and what controls are in The FCA wants to know how businesses are really run, rather than place to monitor whether it is effective? just how they control their risks; they want to find where problems J How is the governance of our management information used? flow from and address them at the source. J What management information reporting do we have in place? A number of areas are usually reviewed by the FCA to examine to J Is our risk register updated regularly and does it mirror the what extent firms put the integrity of the market and the fair treat- risks to our business? ment of consumers at the heart of how they do business. These J usually include looking at a firm’s: How do we communicate our management decisions to staff? n Business model and strategy J Do we proactively seek feedback from our clients and how is this information used? n Culture n Front-line business processes J If we use external advisers, how are they monitored and supervised? n Systems and controls #MadeEasy n Governance J What training arrangements do we have in place for new starters and existing staff? Culture within a firm is an area that the FCA are placing particular J How do we monitor ongoing training and competence? emphasis on. They want to understand how a firm conducts their business, what they expect of their staff and attitudes towards cus- J How do we document senior management decision making? tomers. Your culture reinforces everything you do, setting the tone

22 COMPLIANCE REVIEW HOW THE FCA SUPERVISES FIRMS

#MadeEasy THIS ARTICLE IS FOR INTERMEDIARIES ONLY AND SHOULD NOT BE SHOWN TO POTENTIAL CLIENTS. interbay.co.uk orcall 03458787000 client’s property portfolio, visit To findouthow we can helpgrow your InterBay offers even more value: from longer-term security. product interest rate, your clients have theopportunitytoborrow more andbenefit What’s more, withaffordability ofour5year fixed mortgages now calculated atthe fixed rate mortgages for allloan terms upto75% LTV. simplicity, clarityandvalue. That’swhy we’ve introduced arange of3and5year When itcomestocommercial andBuytoLet mortgages, clients want three things, Introducing new3year and5year fixed rate options–75% LTV Simple. Clear.Competitive. New fixed rate mortgages Investment pricing Introduction ofPrime Semi-Commercial Occupation (HMO)mortgages rateReduction onourHomesinMultiple Sun Pier, Chatham,Kent ME4 4ET.Part of theOneSavings Bank plcgroup (company number 7312896). Head Office:POBox 706, Fareham PO14 9PS. Telephone: 03458787000.www.interbay.co.uk. Registered inEngland number: 05595882. their loyalty We reward borrowers for and HMOloans-£1mplus Fee reduction onlarge BuytoLet Registered office: Reliance House, v DEVELOPMENT BY KIT THOMPSON & ROBERT COLLINS THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO

DEVELOPMENT ELEVATION FROM FTD TO ADVANCED PROPERTY DEVELOPERS

TAKING-IT-TO-THE-TOP ROBERT COLLINS & KIT THOMPSON ADVANCED PROPERTY DEVELOPERS Co Directors — Development Finance AND WHY THEY MEAN BUSINESS

he development finance sector has moved on a great deal 2% entry fee, another 1% exit fee, but an interest rate of 10%. In short, in recent months, with many more options for development the interest rate is higher because the LTC is higher. The lender prices mortgages across a range of schemes, sizes and locations. for risk but as the developer’s track record improves the easier it will be T Having the right market knowledge and access to the best to get the finance they need, and usually it will be cheaper as a result. resources and products is essential and, as a result, the number of intermediaries referring niche cases to specialists like Brightstar is Lenders will look at the type of development project they are on the rise. investing in as well as the developer’s experience, as they will not want to expose themselves to any unnecessary risk. Most lenders will look at Many experienced developers choose to borrow the maximum amount a developer’s track record to prove they have the expertise to handle they can, subject to pricing parameters, as they often want to keep each project on time and to budget; they will want to see that some cash back in case they encounter any problems during the proj- a developer has dealt with a similar type of project before or built ect or to ensure they are able to take advantage of another project if it up to this type and size of development. comes along. A SPECIFIC NICHE THE THREE LENDERS It takes a certain type of lender to lend on a full scale development There are three types of lenders that deal in development finance; senior project and if a client borrows from a lender that doesn’t understand lenders who offer 60 to 75 per cent loan-to-cost ratio (LTC), stretch what is involved, problems may arise. However, there is no need to senior lenders who typically loan up to 85 per cent of cost, albeit at turn this work away because although it is a specific niche, it’s one a higher rate, and mezzanine lenders who give the borrower top up where demand is increasing substantially. Therefore, although it may be loans of up to 90 per cent LTCs, on top of funding from a senior lender. a market you’re unfamiliar with, it is better to seek help from In addition to this, we also have specialist providers that can cover specialists like Brightstar who have daily interaction with every a genuine 100 per cent funding on a joint venture basis. development lender and can therefore find the right one to meet the needs and circumstances of the client. A senior lender typically charges 2% entry fee, 1% exit fee and an interest rate of around 6%. On the other hand, stretch lenders charge

24 DEVELOPMENT BY KIT THOMPSON & ROBERT COLLINS

FIRST TIME DEVELOPERS DEVELOPMENT FINANCE FOR FIRST TIME DEVELOPERS: WHY SUCCESS COMES IN CANS, NOT IN CANNOTS

here are a growing number of people wanting to go into property development, with many capitalising on rising SUCCESS COMES IN CANS property prices as well as the increasing need for new Each development finance transaction is unique and is looked at homes. More often than not, those who have a building on its own merits, although the client profile, previous project ex- T perience, cash input and development location will have an effect background also have a portfolio of buy-to-let properties while

THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO others who have little or no experience at all may choose to build on the maximum loan parameters and pricing. Even though it can from the ground up, both literally and metaphorically. be challenging for an intermediary who is new to the sector or who specialises in different areas, the team at Brightstar have the expe- rience of dealing with these more specialist cases on a daily basis. PRICING FOR RISK Generally, lenders who lend to first time developers are conscious of When considering development options for the first time developer risk and prefer if the project is on a smaller scale, so their exposure it is important to remember that lenders want to lend rather than is lower in the cases of problems until a track record is established. spend their time looking for reasons not to and, even if it cannot be It generally also means that it will cost the client more to borrow the done on the high street, it doesn’t mean it cannot be done. required funds. However, once the borrower has proven that they are a good risk by successfully completing a project on time and in Due to the scope of our lender panel, Brightstar can offer specialist budget, more lenders are likely to consider them for development support to intermediaries and assist property developers to help finance in the future and the rates will often get progressively lower match the requirements of the client to the best loan product avail- DEVELOPMENT ELEVATION as the developer builds a successful track record. able. Therefore, it is worth exploring all of the options before turning a client away, as very often what seems almost impossible at first The alternative lending market can seem complex to those who are can be achieved with the help of a development finance specialist FROM FTD TO ADVANCED PROPERTY DEVELOPERS largely unfamiliar with it. As a result, some intermediaries are still like Brightstar. turning away clients that require short term funding that helps them pay for building development costs. However, it is crucial to under-

stand that just because you may not know the lenders, it doesn’t “BREAK THROUGH WITH BRIGHTSTAR” mean they’re not out there and this is where Brightstar’s lender panel comes into play. PLACING A SPECIALIST CASE It takes a special type of lender to lend on a full scale development and real problems can arise if a client borrows money from a lender that doesn’t understand what is involved in these types of construc- tion projects. Therefore, although more lenders are coming to the market, first time developers should get their loan from a specialist development lender who has real market experience and who will offer added value by utilising their professional expertise, particular- ly if any issues or difficulties arise on the project.

APPLICATION PROCESS

It is quick and easy for any intermediary with a potential development client to apply. We have a one page quick enquiry form to collect basic details on a scheme or alterna- tively we can accept a basic feasibility study to provide you with initial feedback for your client before moving to a more detailed application.

Of course if you just want to chat through the options just ‘phone a member of the team on: 01277 500 900 option 5 or email us at [email protected] #MadeEasy

25 BRIDGING BY KIT THOMPSON

SUBMIT YOUR ENQUIRY IN JUST 90 SECONDS WWW.EASYSOURCE.CO.UK THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO

TOTAL COMMITMENT HELPING IDENTIFY THE RIGHT PATH & WITH YOU AT EVERY STAGE

CATERING FOR A CLIENT’S FUNDING REQUIREMENTS KIT THOMPSON AT EVERY STAGE OF THE PROCESS Director — Bridging Finance

e were recently approached by an experienced proper- our second charge mortgage team who arranged a second charge loan ty developer with a background in investment banking. on the client’s main residence which was valued at £1m. His existing The client, who has been a full-time property developer first charge mortgage was with Halifax with a balance of £396,178, and W since 2001, has a proven track record in property we were able to arrange a second charge loan with Together for £250k refurbishments as well as new build projects, and contacted Brightstar (net). This provided the deposit for the purchase of the site. to arrange funding for his latest project. Stage two of the funding was a first charge bridging loan for a net advance of £600,000. This was funded via Funding Circle and arranged THE PROJECT as three separate funds. This allowed the client to split the titles and He had agreed terms to purchase two auction lots which included pay down the loan in sections, as each of the securities were released a detached four bedroom cottage, a detached two bedroom bungalow and either sold or re-financed. Finance was arranged with a 2% lender and a third plot comprising of a private road/land. The combined facility fee and an annual rate of 9% PA, just 0.75% per month and there purchase price was £850,000 and comprised of two separate legal were no exit fees or ERCs. titles. The client’s intention was to immediately split the titles on the cottage and the bungalow and remarket the larger four bed cottage Stage three, which is already underway, is a development loan facility for a sum of £500,000. This property did not require any renovation for the client to build-out the project as soon as the planning comes work and would likely sell quickly, once the title was split. through. This is a separate facility arranged via United Trust Bank, with a 2% lender fee, an annual rate of 7.5% PA and 1% on the exit of At the same time, the client intended to put in a planning application for the loan. The development facility funds 100% of the build, including demolition of the existing two bedroom bungalow in order to erect six professional fees and costs and allows interest roll-up, leaving the cli- new townhouses on the plot, utilising the private road for car parking ent free to concentrate on the build without having to tie-up cash by and access to the new build homes. servicing the debt monthly.

By utilising three different products across three specialist divisions THE SOLUTION within Brightstar, we were able to cater for our client’s funding require- Brightstar utilised two separate specialist lending divisions to make this ments at every single stage of the process, from raising the deposit and project a reality for the client. The transaction started with a member of acquisition of the site, to full development finance to fund the build once planning was obtained.

26 BRIDGING BY KIT THOMPSON

CASE STUDY BRIGHTSTAR EXAMPLE: COMBINING LENDERS AND PRODUCTS TO ASSIST CLIENT NEEDS

s demand for alternative finance continues to soar, recent changes. In short, he needs to raise £153,750 in stamp duty, the amount of lenders and products are continuing to £480,000 for his deposit and £200,000 for the refurbishment on grow and, as a result, we are increasingly combining the property. A different lenders and mortgage products in order to assist a client. His overall shortfall in order to make the deal work is £833,750. In

THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO addition, he has £100,000 in cash in the bank which leaves him with a shortfall of £733,750. However, he has recently built two A CASE IN POINT new build houses in Scotland (worth £650,000 each) that he has For example, one of our clients who is a high net worth individual managed to fund from his own resources. Both of the properties and an experienced property investor is buying a house in central are wind and water tight and are at second fix stage. London for £1.6m. Although it is habitable, in order to maximise the property value it requires a light refurbishment including a new As a result, we couldn’t combine all the debt with one lender. kitchen and bathroom, but nothing structural. We therefore arranged 70% of the purchase price to get him the money and then went to another lender who was happy to take the The cost to deliver the refurbishment will be £200,000. We took two new build houses in Scotland as security, enabling the client to advantage of the new refurb product offered by United Trust Bank raise the additional £910,000. This will give the client all the money which gives a 70% net advance, plus interest roll-up and cost of he needs to purchase the house in London which will be worth works on top. This give the client a net loan of £1.12m against £2.1m, while the new builds in Scotland will be worth £800,000 TOTAL COMMITMENT the purchase price for acquisition (£1.6m). That left a shortfall of each. He can then sell everything to pay off all the facilities and, £480,000 that he needs to raise in order to cover the deposit, plus even after interest and fees, he will still be left with a significant stamp duty (on an additional investment property) of £153,750 to amount of profit. HELPING IDENTIFY THE RIGHT PATH & WITH YOU AT EVERY STAGE pay. This particular case shows that if you’ve got multiple securities, our However, if he was buying the property to live in and it was his team of specialists can combine a wide variety of different products first purchase, he would pay £105,750. He is therefore paying together to get the borrower an overall package that really works an additional £48,000 in stamp duty due to the government’s and meets their specific circumstances.

CALL THE BRIDGING FINANCE HELPDESK T: 01277 500 900 OPTION 3 E: [email protected]

27 INTERVIEW ONE PETER MATTHEWS

BESPOKE FINANCIAL

WHY DO YOU USE BRIGHTSTAR? ARE YOU STILL SEEING THE SAME AMOUNT OF BUSINESS rightstar works with most of the lenders in the market. GIVEN THE REGULATORY CHANGES? The way they structure their deals and their relationships with the lenders means that I can pass them my business We are seeing the same level of cases to last year, but the increased but do not lose out on the proc fee. With the regulatory amount of paperwork since the MMR means that every case takes changes in both the residential and buy-to-let market much longer now. What has changed more recently has been the Bwriting a mortgage is increasingly more time consuming so it just increased number of house purchase mortgages. There are also isn’t possible to spend time on everything. Passing cases to Brightstar fewer buy-to-let purchases at the moment which is understandable, allows me to focus on my residential and buy-to-let business, while still but buy-to-let refinancing is still there. looking after my more clients with more niche needs, without having to spend a day researching the market every time. DO YOU EXPECT TO SEE ANY FURTHER CHANGES THIS YEAR? I expect to see remortgages dropping away a little more as people WHAT RANGE OF BUSINESS DO YOU DO? continue to take longer term fixes. The EU referendum has also delivered Residential, buy-to-let, corporate loans, corporate buy-to-let, bridging a period of uncertainty. loans and development finance BY PETER MATTHEWS WHAT DO YOU USE BRIGHTSTAR FOR? Brightstar Introducer I use Brightstar for 80% of my bridging, corporate and development finance loans.

28 INTERVIEW TWO NICHOLA JOMOA

GLOBAL MORTGAGE MANAGEMENT

WHEN DID YOU START USING BRIGHTSTAR? HOW ARE YOU FINDING THE MARKET NOW COMPARED TO have used Brightstar since 2012, the guys have always been very HIS TIME LAST YEAR? approachable and open to helping our clients through, in some cases, a stressful process. We like the fact they are an extension The biggest change has been buy-to-let; we are seeing more lenders of what we do. We introduce Brightstar to our clients as our spe- increasing rental income and further stress-testing adopted by most of I the big lenders. This seems to be hitting the City and prime suburbs the cialised team and they offer our clients seamless solutions. These are clients who wouldn’t normally be able to obtain a conventional mortgage most as rental yields are not standing up to the pressure. but Brightstar are equipped to offer solutions where others fail. In the words of our clients, “you have helped me where no-one else could”. DID YOU SEE MUCH CHANGE IN THE RUN UP TO THE CHANGE IN STAMP DUTY AT THE BEGINNING OF APRIL? WHAT MORTGAGES MAKE UP THE MAIN PART OF YOUR There was a definite lift with landlords buying before the stamp duty deadline, however, March is generally the time of year we see a seasonal BUSINESS? uplift so it wasn’t dramatically different to last year. Interesting was the Predominantly we work with first charge lenders, and with a steady activity after the change; there was great speculation the market would amount of buy-to-let, let-to-buy and second charge lending. We also do slow, but this hasn’t really happened. There is ongoing demand and an amount of commercial and bridging finance which is where we utilise sales are still going though, although predominantly in the residential the teams at Brightstar. arena. IS THERE ANYTHING ELSE THAT YOU USE BRIGHTSTAR FOR? HAS THE MCD MADE A DIFFERENCE TO YOUR BUSINESS? We find Brighstar exceptionally useful for our non-conventional clients Not really. Obviously, we now consider second charge lending a little who may be looking for a slight income stretch or have minor adverse more which is actually really good for our clients as this offers them blemishes, as they often need a lender who has a different approach to impartial awareness of what options they have. As a client-centric the High Street affordability models. What is great about Brightstar is business, this is paramount for us. I think everyone expected a huge they are able to bridge gaps where conventional lending lets us down. amount of change but there hasn’t been. Slight adjustments have been Brightstar’s service allows us to assist clients where others would fail made with lenders but as a whole it is not affecting the intermediary. and this enables us to maintain our working relationships with our clients and also our introducers, which is essential to our business. NICHOLA JOMOA Brightstar Introducer

29 INVOICE & ASSET COMMERCIAL FINANCING

nvoice finance is being increasingly used by businesses to sset finance is a facility that is used by businesses to help improve cash flow. This type of finance essentially allows obtain assets including equipment, machinery and businesses to draw money against sales invoices that have vehicles by purchase which will allow them to grow. previously been raised, also known as ‘debtors’, before the Traditionally, people have gone to their banks to get invoice is actually due. overdrafts and loans, but when the business grows to I aA certain level, the overdraft requirement will need to be higher than So, why use invoice finance? Invoice finance, which is purely pre- previously anticipated. payment against raised invoices, helps companies to grow seamlessly without the need for as much security which is usually required with So, why use asset finance? The most common types of asset finance more traditional bank lines. In addition, unlike banks which will only go to are leasing and hire purchase agreements. Asset finance can often work a certain level, invoice finance allows the business to grow against the out cheaper than other bank finance because it is secured by an asset, sales invoices, permitting the business to develop and expand further. is generally easy to set up and the credit process tends to be slightly In some circumstances, if the conditions of the payments are not met quicker, compared to traditional banking which is secured by personal and the lender has already paid out, there is a possibility that they may guarantees. not get their money back. Therefore, although there are some invoice Asset finance offers bespoke solutions and at Brightstar we work finance providers who are not keen on lending against stage payments closely with a wide range of specialist lenders which allows us to go out or in the construction sector, many of the providers we work with are to the whole of the market in order to meet a customer’s needs. happy to pay against stage payment invoices and typically we can find a provider who can assist. One possible challenge in terms of asset finance is when an asset isn’t new or next to new, and there are often issues with doing asset finance THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO Although there are certain sectors where invoice finance wouldn’t on assets that are over a certain age. However, at Brightstar we look at necessarily be appropriate they are minimal and, more often than not, each case based on its individual merits and can often find a solution in we can find a solution. Invoice finance clearly plays an important role in these circumstances. the continued growth of businesses today and, if your client’s business requires improved cash flow, get in touch to find out how our team of experts can help NO PROPERTY? ASSET FINANCE CAN OFTEN WORK OUT CHEAPER IT SOLUTIONS COMPANY CONTINUES TO GROW THANKS TO BRIGHTSTAR

OBJECTIVE OUTCOME

! We were contacted directly by an SME based in the City of London We were able to work with the client and identified a lender that was that provides IT solutions and has a turnover of £1.5m per annum. The able to assist with the company’s ambitious growth plans. The lender, company had recently started providing mechanical, electrical and which specialises in working with companies that operate within this plumbing (MEP) services to fit out firms for electrical projects, and sector, was able to provide a facility where it could fund up to 50% of was attempting to land a new contract with a major construction the approved sales ledger balance for each customer, subject to credit company. It was also looking to purchase a new fibre optic kit in order to rating from the point that the invoice was raised. This is a unique offering facilitate the new contract to help improve its overall service offering in the market and the client was provided with a £500,000 invoice while allowing them to pitch for other large contracts. finance facility. Consequently, the client was then able to take on the new contract which increased profitability. The process was completed from start to finish in just one month and enhanced the value of the company, its balance sheet and growth. OBSTACLE BY PAUL DEBNEY Commercial Finance Consultant

The IT company had only been trading for 18 months which meant it only had a year’s worth of financial information. In light of this, the company decided to approach its bank for an overdraft to facilitate the working CALL THE COMMERCIAL FINANCE HELPDESK capital requirements to fund the debtor gap in advance of receipt of its invoices. These were to be paid in stage payments over a 90 day period. However, on this occasion the bank was not prepared to assist T: 01277 500 900 OPTION 4 the company due to the stage payment aspect of the invoices and its E: [email protected] perceived risk of the sector. As a result, the company was struggling to commit to the new contract.

30 DIRECTORY TEAM CONTACT INFORMATION THE BDM LIST

1

NATHAN ELLIS - CALCOTT FOR A 1:1 WALKTHROUGH OF OUR GROUNDBREAKING EASYSOURCE SCOTLAND / THE NORTH TECHNOLOGY, CONTACT YOUR REGIONAL BRIGHTSTAR BDM TODAY M: 07701 283 041 E: [email protected] “SPECIALIST DOESN’T HAVE TO MEAN DIFFICULT” POSTCODES COVERED: AB, DD, DG, EH, FK, G, IV, KA, KW, KY, ML, PA, PH, TD, BB, BD, BL, CA, CH, CW, DH, DL, DN, FY, HD, HG, HU, H, L, LA, LS, M, NE, OL, PR, S, SK, SR, TS, WA, WN, WF, YO. THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO

2

CHRIS BENNETT MIDLANDS / WALES / EAST ANGLIA M: 07701 283 040 E: [email protected]

MORTGAGES & BTL HELPDESK POSTCODES COVERED: AL, B, BS, CV, DE, DY, GL, T: 01277 500 900 OPTION 1 HP, HR, LE, LU, LN, MK, NG, NN, OX, PE, SG, ST, TF, NO PROPERTY? WR, WS, WV, CB, IP, NR, CF, LD, LL, NP, SA, SY. ASSET FINANCE CAN OFTEN WORK OUT CHEAPER E: [email protected] SECOND CHARGE MORTGAGE HELPDESK T: 01277 500 900 OPTION 2 E: [email protected] BRIDGING FINANCE HELPDESK 3 T: 01277 500 900 OPTION 3 E: [email protected] CHRISTINA SMITH LONDON ! COMMERCIAL FINANCE HELPDESK M: 07885 484 631 T: 01277 500 900 OPTION 4 E: [email protected] E: [email protected] POSTCODES COVERED: BR, CM, CO, CR, CT, DA, E, EC, EN, HA, IG, KT, ME, N, NW, RM, SE, SM, SS, SW, DEVELOPMENT FINANCE HELPDESK TN, TW, UB, W, WC, WD T: 01277 500 900 OPTION 5 E: [email protected] ...IF UNSURE, JUST CONTACT: E: [email protected]

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CLIVE WILLSON SOUTH EAST / SOUTH WEST M: 07966 074 195 CONTACT THE EASYSOURCE HELPDESK E: [email protected] T: 0300 303 3130 POSTCODES COVERED: BN, GU, PO, RG, RH, SL, SO, BA, BH, DT, EX, PL, SN, SP, TA, TQ, TR E: [email protected]

CUT & SAVE, WE WOULD LOVE TO HEAR WECUT TO WOULD & SAVE, LOVE FROM YOU 31 NOW LIVE THE MOST ADVANCED SPECIALIST SOURCING SYSTEM OF ITS KIND ” “ Specialist doesn’t have to mean difficult THIS ARTICLE IS FOR INTERMEDIARIES AND SHOULD ONLY BE POTENTIAL NOT CLIENTS. SHOWN TO

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