Why partnerships matter

It is still very early days in terms of 2023, and there is always a danger in getting way ahead of yourself when it comes to deciding that the rest of the year is going to head one way based on, for example, a few weeks.

Certainly, it was not an electrifying start, but slowly and surely we can see the market moving into a more positive environment, rates are stabilising, demand is creeping up - certainly for remortgage but also purchasing, borrowers are getting more comfortable with where rates are, and the fundamentals – certainly for the buy-to-let sector – continue to remain very solid indeed.

No-one can predict the future, but I’m pretty confident that – despite the uncertainty – there is much to be thankful for, and there is much to be optimistic about. It might not always seem that way, but if we can’t take a medium- to long-term view, then who can?

Just recently we held our Key Account Conference – an opportunity to review the last 12 months (interesting to say the least), see where we currently are, and outline where we plan to head over the course of 2023.

I’ve been to enough of these types of events over the years to know that attending can be something of a chore, you often feel taken for granted, and you leave wondering why you bothered in the first place.

Hopefully, our events are not like this. It’s a relatively small affair but being there did bring home a number of points that I think are not just relevant for us as a lender working with advisers, but any firm working in our mortgage intermediary space.

Firstly, partnerships matter. None of us are doing this on our own – sometimes you might wish it was just you in total control of every single aspect of the process, but therein lies madness and, to start with, there are simply not enough hours in the day.

So, partnerships with your colleagues are important, but also the partnerships you have with the myriad of people who make up this market, and for whom you will undoubtedly rely on – to a greater or lesser extent – at different points of the process.

We couldn’t do this without you, the advisers, the networks, the clubs, the packagers, the distributors, etc, and I like to think that you couldn’t do it without us either. Don’t throw that one back in my face.

Secondly, as a result of that, we can’t just be thinking about ourselves and our own needs because that would be a disaster for all. Part of our DNA at Fleet is transparency and honesty because, let’s be frank, where does the opposite actually get you?

We certainly needed to be transparent and honest throughout 2022 simply because there was a lot going on, a lot to react to, a lot of change to get on top of, and all of the above results in the products we can offer and the service we can give.

When that changes, and it changes the way we would ideally like to be working in the market, then it seems to us that the very best thing we can do is tell the people who work with us the reasons behind this, what we plan to do about the situation, what we are doing to rectify these issues, and then keeping our word.

Sounds simple and it is. At the Conference we had a brand expert deliver one of the presentations and it was the simplicity of the message he gave that struck home. How do you build your ‘brand’? Simply tell people what you do, provide them with a promise that you’ll do it, and then delivering on that promise.

That seems utterly simple but it’s what every client is looking forward – whether it’s advisers as our ‘client’, or indeed your actual client in terms of you delivering your advice to them.

Again, the alternative just seems like utter lunacy – don’t tell customers what you do or give them a limited or inflated view of what you do, say you’ll do some of it or over-promise that not only can you do what you’ve said you’ll do but you can do more as well, and then fail to deliver on anything they might have expected you to do and which you promised them you absolutely 100% would do.

It sounds nuts because it is. Which is why we do try to keep it simple through an uncomplicated product range that doesn’t fill up sheets and sheets of a guide and leaves you scratching your head, with easy to understand criteria, with total transparency in terms of our service offering (it’s always on our website), and if we tell you we’re going to do something we’ll do it, and if we can’t do it, you’ll know at your very earliest convenience.

Of course, I’m not telling you anything you won’t already know, but sometimes we can all over-complicate things and by doing so, what you’ll bring is just more confusion, more stress, more frustration, and a bad experience for all.

So, let’s be upfront and clear as a starting point, let’s not forget that we are all in this together, and let’s continue to work in partnership, supporting and helping each other to get the very best for our customers.