<
p>B&C recently caught up with Aldermore Bank’s Key Account Manager, Pete Byrne, who heads up the bridging arm that launched into the market last year
Pete Byrne has exclusively discussed with B&C how we should expect an increased rate of bridging lending from the bank in 2015, along with a widening of its distribution and a fresh expansion of its product range, after talking to him about his role.
1. What does your role consist of and when did you start working for Aldermore Bank?
I started in Jan 2014 to help set up our Bridging Department. Initially, my role was to work closely with our Head of Operations, Lauren Dolezel, to launch our proposition and recruit a bridging team, while also putting together credit policies, operational processes and procedures. At the same time, I was working to deliver our new Bridging platform. Now we have launched and our new platform is in place, I will be working closely with our distribution partners to develop our proposition further.
2. What is your past experience?
I have worked on both sides of the lending divide: broker and lender, and I’ve worked previously for specialist lenders LGRP (GE Home lending ) and Moneypartners. Most recently, before I joined Aldermore, I worked on behalf of Deloitte managing teams reviewing banking complaints in Dublin and London.
3. Did you always want to work in finance?
I can’t say it was my schoolboy dream!
4. What one thing would you change about the bridging industry?
Better regulation of the industry to ensure greater transparency, which would improve the perception and reputation of the industry.
5. As Aldermore had a planned slow start when entering into the bridging market last year, will we see a rise in lending during 2015?
Most certainly. As you mentioned we wanted to control volumes whilst testing and monitoring our systems and processes. We will see volumes increase this year.
6. How are you hoping to keep Aldermore’s bridging arm competitive in a crowded market?
We will listen to broker feedback and comments. Our bridge to term proposition differentiates ourselves as we can offer both the bridge and also a long-term mortgage solution. We also have a dedicated product team based in our Wilmslow offices that regularly review our proposition.
7. What exciting plans does the bridging arm at Aldermore have this year?
As well as increasing our volumes and widening our distribution, we will be looking to expand our product range.
8. How has the new bridging IT system, which launched last month helped with deals going through?
It has made the process a lot slicker and importantly allows us to implement changes and product enhancements more easily.
9. If you could have one superpower, what would it be and why?
The ability to be in two places at once. My role takes me all around the country; this way I wouldn’t miss any of my children’s sporting and after school activities.
10. What is more important in bridging – rate or service? Why?
Service. Bridging is a very fast paced environment where most loans are time critical. Brokers and customers alike want the surety of a decision rather than false promises.
B&C recently caught up with Aldermore Bank's Key Account Manager, Pete Byrne, who heads up the bridging arm that launched into the market last year….
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