The Intermediary – April 2025 - Flipbook - Page 21
MEET THE BDM
What are the main
challenges facing BDMs
right now?
Put simply, BDMs need up-tothe-minute knowledge and
understanding of the market.
Economics is a love of mine and l
learn a lot from speaking to local
businesses to keep up to date with
the local as well as the national
market, particularly the details
and trends involved and how they
change. And they do – particularly
since lockdown and the era of ultra
low interest rates – and not only
a weekly or even daily basis, but
also from morning to afternoon in
this era of volatile swap rates and
currency fluctuations.
What are the
opportunities?
The more challenging a volatile
market is, the more opportunities it
presents. This is more pronounced
in the specialist sector in which we
at the Family excel, specifically as
almost 90% of loan applications
come from intermediaries.
We might not beat other lenders
on rates, but lending into and in
retirement, the growth of Joint
Borrower Sole Proprietor (JBSP) and
the reverse ‘Bank of Mum and Dad’, if
you like, are clear opportunities. Take
the example of the cash poor, asset
rich 75-year-olds, who have found a
new lease of life and don’t want to
downsize but want to free up cash
and realise some dreams.
I can help them, and if I can’t, at
least I know other experienced BDMs
who may have better connections
elsewhere. There is now shortage of
business out there, after all.
How do you work with
brokers to ensure the best
outcome for borrowers?
It is not just my knowledge of retail
lending, but my experience of
commercial lending that gives me
a distinct edge and helps brokers.
I make sure I go through the whole
lifespan of a loan, from application to
offer and completion, and keep the
channels of communication open all
the way.
I’ll pick up the phone, meet for a
coffee and really get to know the
brokers on my patch.
I love meeting people, and as I am
no more than two hours drive from
the most distant one, I’ll happily turn
out at short notice.
support the broker from the start
of the application process, to offer
and beyond.
We need to bear in mind that most
brokers, who more often than not
use the major ‘high street’ lenders
for their more straightforward cases,
are likely to be unfamiliar with our
products and service.
Since I started at the Family in
January, the relationships I have
built with brokers over the years
that I have been a BDM have proven
invaluable in landing new business.
What advice would you
What is something
give potential borrowers
people might like to
given the current climate?
know about you outside
No one really wants to borrow, but
almost everyone has to in order to
get on to the housing ladder or to
enjoy retirement and assist – often
but not always – younger family
members financially. In many ways
it is a blessing to be able to borrow
at any time in one’s life, so don’t
be afraid to. And don’t worry about
timing. If it is the right time for you
to borrow, do it. You’re not going to
beat the market and you’re not going
to foresee ‘events’, global or closer to
home, that impact the economy.
Finally, look forward, not back!
Who knows if we will see ultra low
interest rates again.
of work?
I have lots of interests and hobbies,
but my main one is training my
two dogs Buddy and Bertie. I
have recently become a volunteer
dog trainer at my local club. I
enjoy helping other dog owners,
particularly inexperienced ones, train
their pets too! ●
What is the importance
Family Building Society
of your relationships with
Established 2014
brokers, particularly as a
building society BDM?
My relationship with brokers as a
smaller, niche building society BDM
is pivotal to the success of brokers
placing their cases with the Family
Building Society.
It is important for a broker to
have a trusted and knowledgeable
contact at a building society, one
who can not only explain lending
criteria and the likely viability of
each and every would-be borrower
on a case-by-case basis, and also
Products
• Under-served borrowers
• First-time buyers with low deposits
• Owner-occupier mortgages
• Fixed, discounted, and tracker rates
• Offset mortgages
• Later life mortgages, including
retirement interest-only
• Expat mortgages
• Buy-to-let, including limited company
buy-to-let
• Product switches and further advances
Contact details
07572 417 978
georgina.england@familybsoc.co.uk
April 2025 | The Intermediary
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