1. What does your role consist of and what roles/experience have you had in the past?
I have a management consultancy background with experience of restructuring companies to find solutions for and hence improve the business.
I now manage a thriving business and we are constantly looking to better ourselves in terms of delivery and service.
We have an established, reliable team, so my recent focus has been orientated towards growth and strategy for MFS.
I am currently looking for an array of investors to help us achieve our long-term goals in order to grow our book and be recognised for what we do best in this industry.
2. Did you always want to work in finance?
No, my initial goal was to remain in management consultancy; continuing to help other businesses grow and improve efficiencies within other organisations.
I did not think that I would be running my own business one day.
3. What impact is Brexit likely to have on the bridging market?
Brexit has induced uncertainty and hesitation among investors looking to lend and borrow, which can drive a huge dent in the market.
I strongly believe that spreading risk and diversifying the customer base from day one reduces the level of dependency significantly, minimising risk.
Unfortunately, some bridging companies have been impacted, but we hope that as certainty in markets improves, which it will in time, the bridging market will be a positive and buoyant one.
4. What is the one thing you would change about the bridging industry?
People's perception of bridging; I find that many businesses can take advantage of bridging to build and grow their company.
In the current environment, rates are extremely competitive and favourable and this should be highlighted to potential users with positive marketing from the government and relevant bodies to give it the respect it deserves.
5. What makes a lender stand out from the crowd?
The ability to lend promptly and with full transparency so that the borrower fully understands the implication of its cash flow.
An excellent lender also requires understanding and a flexible approach when things do not go to plan rather than taking drastic decisions.
6. What exciting projects does MFS have this year?
One good example is where we annulled a bankruptcy so that we could lend to the borrower.
Looking at borrowers independently and evaluating the bigger picture allows for solutions that work in the best interests of all parties.
7. What are the biggest challenges for the bridging market this year?
Changes in stamp duty have had a large impact on the market, planned before Brexit and was a shock to many companies.
It was also intriguing to see how funding lines were affected by Brexit and what the response from short-term lenders was, particularly considering that no one fully understood the implications of Brexit and the changes to investor confidence in the property market.
This matter was not helped by the downward approach to valuations by professionals, hence the biggest challenge was to get the balance right so as not to be drastically affected by the changes.
8. Explain the most interesting deal you have seen at MFS
A recent intricate deal was where we lent to a borrower with a portfolio of 35 properties.
Here, we discharged the existing lender and structured the deal in such a way as to allow the borrower to secure funding through many different institutional lenders.
The borrower subsequently raised sufficient funds to pay off and discharge each individual property avoiding any cash flow issues.
Due to MFS' timing and meticulous planning, the borrower was very pleased with the outcome – he had the flexibility within his portfolio without any adverse effects.
9. What is your favourite part about the bridging industry?
The creation and sustenance of favourable partnerships that work to everyone’s advantage.
Banks are overly confined and lack creativity when it comes to positive lending.
Therefore, bridging is a great way for alternative, bespoke finance.
10. Who is your idol and why?
Gandhi – for his principles of moving forward irrespective of all issues and hurdles in life.
His ways had the betterment of all in mind.
Leave a comment