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In the Spotlight with Dave Pinnington of V Loans

Dave Pinnington of V Loans gives us the lowdown on Santorini, the next 12 months in the industry and why he sometimes feels like a psychiatrist...

1) What exactly does V Loans do?

We are specialists in the secured loans market and we deal exclusively with the intermediary market.

2) How long have you worked for V Loans and what did you do before?

I set up V loans in July 2007. Previously to that I worked as regional manager for SPPL.

3) What do you see happening in the secured lending industry in the next 12 months?

The secured lending market has seen a renewal over the last 12 months and I think a lot of lenders have been making positive changes to criteria. Hopefully this will continue over the next year because this helps us to assist clients.

4) What is the best thing about your job?

It has to be working with such an enthusiastic and experienced team. Not only that but also speaking daily to our introducers – we have worked so closely with them over the years that we have built a great relationship with our brokers.

5) And the worst thing?

The worst thing is not being able to help as many clients as we wish to due to the restrictions that are still in place in the secured lending industry.

6) What was the most memorable case you have dealt with this year?

It’s probably a very recent case we placed. A client was mis-sold a bridging loan by his broker so he turned to our broker who sent him to us. We managed to get a secured loan for him with Link loans for 97 per cent on an 8.78 per cent APR, which is significantly cheaper than a bridge.

7) If you weren’t working at V Loans what would you be doing?

I would probably be a psychiatrist – I think the people I’d be dealing with would be relatively sane compared to this industry!

8) What do you like to do on your weekends off?

I like to socialise and to catch up with friends and family.

9) What’s the biggest issue you have to deal with at the moment in the secured lending area?

Because we deal exclusively with intermediaries and the industry shrank a few years ago, I think the biggest issue we have at the moment is educating brokers – we are still telling people that secured lending is an option because I think the point we want to get across is that secured lending has really come to the fore now more than ever.

10) Where is your favourite destination in the world and why?

It has to be Santorini. I got married there two years ago and I spent a week out there with 45 of our friends and family. It was really entertaining and we had a great week.