Phil Jay, Director at Complete FS

myi: Your business has a focus on using transparent and ethical providers  - do you feel this is something that has become more sought-after in the industry recently? Why do you think this is?

The FS industry is constantly changing with more emphasis on short term funding as high street lenders tighten up their criteria and terms. What doesn’t change are the personal ethics and the way we approach business and others in the industry. The ethical code we have as directors in Complete FS is simple; we treat clients and our business colleagues honestly and  fairly.  The bridging market has certainly grown in recent years as brokers, specialists and lenders try to make a buck., and with its rapid growth comes the temptation that for some, personal gain and greed gets put before the good of the customer. We aim to ensure that the consumer’s needs are our first priority, which means that our lenders receive the right applications and our introducers have their clients treated properly.

myi: What do you feel are the respective merits of both regulated and unregulated bridging?

I’m a very lucky and rather unique squash player, I play using both hands. This gives me a great advantage over my opponent but I still have to manage how I play the game. The same can be said for regulated and unregulated bridging, it’s great to have both but you need to understand the process and when it’s right. The big problem I have with unregulated brokers or lenders is when they’re faced with a regulated enquiry, they try to switch hands and drop the racquet!

myi: How important do you feel the role of packagers is currently and what how do you predict this will change?

Complete FS is a good example of the role packagers can play in bridging.  We have almost 20 years experience, we know how to present and package a case for the lender to approve and issue an offer. Bridging, although a small and niche part of UK lending, still needs our expertise to ensure all bases are covered and the right exit route is in place. Another strength we have is the additional work we undertake to ensure the broker/network has a Completely Compliant Bridge, so we provide documentation to back up the sale whether regulated or not.

myi: If you were in charge of the FSA for a day, what would you do?

I suppose a long lunch is out of the question? As much of our focus is on buy to let lending I would make this a regulated transaction. This would give lenders and brokers a starting point of being regulated if they were to remain in this market, rather than on the sidelines.

myi: What is Complete FS’s biggest achievement?

This is Complete’s 20th year & we’re very proud of the fact we have made it thus far! Awards & nominations are always pleasing but to remain profitable & in business are top of our wish list.

Complete Mortgage and Loan Services Ltd was established in 1993. Since that time the company has established itself as a leading mortgage packager and distributor. The business covers the whole of the market including prime, Prime, Near Prime and Buy to Let mortgages as well as secured loans, bridging finance, and debt solutions. Among the facilities offered to our introducers are an online DIP and online submission  facility and 24/7 online case tracking facility called BORIS. With our headquarters in Hampshire, we continue to support the intermediary market with innovative products along with highly trained and experienced staff. In his spare time, Phil is a keen golfer and squash player.