Stuart Kelly, Director of Lending - Commercial Mortgages, Shawbrook

FR: Firstly, congratulations! You have already made your mark on Shawbrook’s lending team, increasing the number of managers etc – what are your plans in your new role?

Thanks.  There are many plans in place but primarily the focus for the team and I will be on ensuring our service proposition is as slick and efficient as possible.  The lending team has evolved significantly over the past 3 years and it is essential that we continue our ethos of lending sensibly whilst striving to offer the best possible service to our broker partners.

FR: There’s a great amount of buoyancy in the buy-to-let market at the moment; do you think this is something that will continue?

I definitely see this as something that will continue but we all have a responsibility to ensure it is sustainable.  Interest rates will not always be as low as they are now and this has to be at the forefront of everyone’s mind when considering the effects rate rises will have  - not just on the borrower’s ability to service the loan now, but in the long term as well, taking into consideration their wider portfolio and personal commitments.

FR: The short term finance market has also had a strong start to the year. Do you think this is a lasting trend?

I do and I believe Shawbrook will be one of the frontrunners in this market. We see this as an important area for growth and are taking the time to build a very strong product offering supported by a dedicated team who are focused on getting the right deals over the line.  

FR: 2014 is set to be a year of change for advisers and brokers – what is Shawbrook doing to support them?

Our business is built around intermediaries and that means supporting them through any challenging periods.  The regulatory changes brought in by the Mortgage Market Review do not impact the short term and commercial markets directly but we are working with our introducers to offer support wherever needed. We are also looking at the changes to see what elements we should be considering as best practise moving forward.

FR: What is the most important piece of advice you would give to an intermediary starting out in the market today?

My honest advice would be to focus on specialising in one area at a time and doing it right – too many people take on too much at once.  I’d also recommend working with a specialist broker with regards to commercial mortgages and bridging whilst you learn the market and the various lenders’ requirements.  Intermediaries sometimes fail to realise the importance of a high quality submission and a deep understanding of the lenders’ criteria, both of which serve to deliver the best outcome for the client.  By their very nature, commercial mortgages and short term finance have many complexities and it’s important to work alongside specialists whilst you learn the ropes, gradually building your knowledge and confidence before taking control and developing your own relationships.

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

It’s a difficult question to answer as I have worked in finance since I left school.  I suppose it would have to be something completely different like running a bar on the beach somewhere warm!