In the Spotlight with Rob Derry of Brunel Mortgages

We sat down with Rob Derry, Managing Director of Brunel Mortgages, to find out why he loves South Africa, what the future of the secured lending industry holds and what's so great about living close to work...

 

1) How long have you been at Brunel and what is your role? 
 
I’ve been at Brunel for nearly eight years now and Managing Director for nearly five. My background is as an accountant but in reality I left that behind a long time ago.  
 
2) What do you see happening in the secured lending industry in the next 12 months? 
 
I think (or is that hope?) that criteria will continue to improve. We’ve already seen a lot of positive moves in the commercial and secured loans markets with the likes of WLB entering the market and Link & Blemain flexing their criteria. Now with Link and WLB under the Shawbrook brand there is real activity in the market. Lenders are competing for volume and that has to be a good thing overall, particularly given the stagnation of the first charge market. 
 
For the best part of three years now we have had ridiculously tight criteria on first mortgages. You could argue that in the years before they were ridiculously loose. Hopefully a place somewhere in the middle can be found where people can borrow but with checks and balances to ensure the kamikaze lending doesn’t return.
 
3) What is the best thing about your job? 
 
Living close enough to cycle to work but far enough away that it is a decent workout and I get to work alert. The variety of things to do is great. No two days are ever the same.  
 
Also, the team here are really experienced which as a completely independent business with a personal, hands-on approach to packaging is essential. Technology is great and speeds a lot of things up but in the end, you can’t beat an experienced person’s input on a case – particularly if there are complicating factors such as credit history, property type, income proof, gifted deposits or a whole host of other things that a computer just can’t objectively cope with. 
 
4) And the worst thing? 
 
The days when I have to drive to work! 
 
5) If you could be an animal what would it be and why? 
 
Cats have it pretty good; they get waited on but they get their independence as well. However, I do prefer soap and water to wash with, so maybe not! 
 
6) If you weren’t working at Brunel what would you be doing? 
 
Who knows? I’ve never been one for a career plan. I’d love to be paid to do something associated with cycling though. If I won the lottery I would buy an ice hockey team and run that. 
 
7) What do you like to do on your weekends off? 
 
With two kids (the youngest has just started school) it’s great to get out on the bikes at the weekend with them. Otherwise it’s watching ice hockey and rugby. The weekends always start with a home-cooked curry on Friday night; cooked by myself I hasten to add! In the summer we try and get away for a few camping weekends. The kids love it and they can play on the site while we sit around enjoying the scenery (and a bottle or two!) 
 
8) What’s the biggest issue you have to deal with at the moment in the secured lending area? 
 
Other than the usual optimistic valuation estimates and denial of previous credit issues, it is the unwillingness on the part of some brokers to change what they do and look at different products like secured loans or commercial mortgages. As we promise never to cross-sell (we don’t offer ANY products other than secured finance) they have nothing to fear and everything to gain. We’re not here to steal their clients. We don’t have the infrastructure and processes to market direct to the public. 
 
9) Where is your favourite destination in the world and why? 
 
It would have to be Shamwari Game Reserve in South Africa where my wife and I spent four nights of our honeymoon. The experience of being on safari and yet being in luxury were incredible. We only wish we could have stayed longer. When the kids are a bit older, we’ll all go back as a family. We were there out of season so it wasn’t too busy which meant we got to spend a lot of time at animal sightings. Following a pride of lions for nearly two hours as they moved in to another pride’s territory was incredible – we were within a few feet of them most of the time. 
 
10) What was the most memorable case you have dealt with this year? 
 
So many. Due to us specialising in cases where other packagers or High Street lenders can’t help, there is always something memorable about every case. It’s great to get a completion when so much seems to be stacked against the applicant. That’s why we’re here. 
 
I have to mention our first completion with WLB (now Shawbrook) as it was DiP to completion in just two weeks.