In the Spotlight with Jo Breeden, Crystal Mortgages

FR: Crystal Mortgages recently branched out into the secured loan market - what do you hope to have achieved in 12 months time?

We hope to have cemented our Secured Loan offering with our broker partners. We aim to assist our broker partners in areas they need extra support or maybe access to additional lenders. With the advent of MCD in 2016, the Secured Loan will have to be considered as a viable alternative for all 1st charge re-mortgages, meaning that the customer gets the most suitable offering for their circumstances.  

FR: Bridging lending has almost doubled in 12 months – do you think will we continue to see a rise in brokers recommending bridging to their clients?

I think the level of education in the bridging market has never been greater. Customers and introducing broker partners are now more frequently – and correctly – enquiring about bridging as a short term solution with a plan to enhance the customers position with a sound exit strategy in place. So as long as lenders continue to lend to enable client to exit and customers and brokers becoming more confident with bridging, then I believe the bridging market will continue to grow over the next 12 months.

FR: Do you think the bridging market is likely to become fully regulated – why or why not?

Yes, I do. We have seen that short term, high cost lending is well and truly on the regulators radar and rightly so. If used correctly it is a viable alternative to main stream lending, if used badly it can worsen an already bad situation for a customer. Bridging definitely has a place in the market, but I do believe the regulator will have a bigger say in the future.

FR: How do you see the buy-to-let market changing over the next 12 months?

We have seen an increase in lenders in the buy to let market, with the likes of Foundation Home Loans. We have also seen a number of near prime lenders enhance their proposition. This leads to a much more competitive market place – but we are seeing lenders define their place more on criteria and not necessarily price. With coming changes to the regulation of buy to lets, and the tax changes, we may well see more facets to the buy to let market, but I still see this being a vibrant and competitive sector.

FR: If you weren’t in the financial services industry, what would you be doing?

If you asked 5 year old me, I would have said a Jedi, or a footballer. Unfortunately my powers never developed and I have a dodgy knee! In all seriousness I would probably still be working as an accountant- although working in audit wasn’t for me. I started off with the plan of getting into Sports Finance before I switched to Financial Services, and now really enjoy it. I like having the chance to meet different people from all walks of life and business, and the buzz of completing a case never escapes me!