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Do you expect to see less or more second charge mortgage lenders in 2018?

In the spotlight with Graeme Wade of Spring Finance

In the spotlight with Graeme Wade of Spring Finance

Loan Talk recently caught up with Graeme Wade, Business Development Manager of Spring Finance, who unveiled that it is set to have a new online portal in time for the MCD regime…

What is your role at Spring Finance and what does it consist of?

I am the Business Development Manager and am responsible for the training and development for all of our introducers across the UK.  Part of the roll also involves roving underwriting to help with underwriting queries to make sure files are ready for submission to Spring.  

What is your previous experience?

I learnt my trade at igroup (GE Money) for 8 years in such roles as Underwriting and Sales Liaison.  In 2006 I moved to The Swift Group as a Regional Account Manager covering the south east of England.     During the crunch I spent a few years out of the industry working in the world of healthcare as a Project Manager.   

How do you think MCD changes will affect the second charge mortgage industry next year?

Like most people I think it will take time for Mortgage Advisors to adapt to considering second charges alongside remortgages but the more they are educated the busier the market will get.

What would you ban in the seconds market?

Anybody who thinks that previous Adverse Credit means customers don’t deserve a second chance.

Do you think the seconds market is overcrowded and why?

Not at all. I believe everyone brings something to the table and are working for the clients best interests.  There are some unbelievable products in the market at present across the whole spectrum so demand for secured loans is increasing constantly.    

What is the most interesting case you have dealt with at Spring?

They’re all interesting to be honest.  Being a credit repair company it’s nice to be in a position to help clients improve their credit and put them back in position where they can move themselves back up the ladder.   

What do you think there is a gap in the market for?

Good question. I believe I have the answer but unfortunately I can’t tell you.

What exciting developments do we expect to see from Spring in the near future?

We are always looking at improving our offering and we have some exciting changes up our sleeves both pre and post MCD.  
We are particularly proud of our new online portal which will be ready for the new regime. This will make life very easy for our introducers when packaging our cases.

How has Spring grown in the past few years?

Since securing our funding in 2014 we are going from strength to strength.  We are now a focal point in introducer’s offices, we have increased our distribution channels and are constantly improving our product offering which is shown by our recent rate decrease. We have recently brought in Kate Hill as underwriting manager. Her knowledge and experience will help improve our service levels.   

Do you think there needs to be more education on second charge mortgages?

Education is always the key I think the work we have recently seen from companies such as Precise Mortgages and Shawbrook with their roadshows and Workshops are a fantastic example to us all. 

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