He outlines why a huge responsibility is about to fall on homeowners and landlords
Broker in Focus is a dedicated series that highlights the unique journeys of mortgage brokers, providing them with a platform to share their experiences, insights, and expertise. Through compelling personal stories and professional reflections, each featured broker recounts the key moments that have shaped their careers, delves into the challenges and opportunities facing the industry today, and shares the valuable wisdom they have gained along the way.
Mortgage Introducer spoke with Alan Kent (pictured), founding director of Viable Mortgages and a former banker, whose journey into broking began in 2007 when his pursuit of mortgage qualifications earned him a role at a major Scottish brokerage. Now in 2024, Kent has been recognised as one of the Excellence Awardees for Innovator Champion of the Year at the Mortgage Introducer Awards.
Full name: Alan Kent
Job title: Founding director
Company: Viable Mortgages
Number of years in the industry: 20
Location: Central Belt – Scotland
How and when did you become a mortgage broker?
I was working for a high street bank and had recently become a father. I decided to enhance my career and took the initiative to start studying toward my mortgage qualifications. While studying, a recruitment consultant introduced me to a large mortgage brokerage in Scotland.
Following the interview, I was encouraged to complete my final exam to become qualified and then return to them. True to their word, I completed my last exam, went back, and started my career as a trainee mortgage adviser in January 2007.
In your opinion, what has been the most positive development in broking?
Fintech appears to be revolutionising brokering and financial services in general.
What challenges do you see currently facing the industry?
The biggest challenge facing the mortgage industry is financed emissions and the decarbonisation of the UK housing stock. Very soon, we will start to see home buyers drive the value of energy-efficient homes up.
It’s refreshing to see some lenders taking the initiative to support mortgage clients with cashback options for retrofit purposes. It appears the new government’s plan is to focus on supplying renewable clean energy via its new energy generation vehicle, GB Energy. As we have a marginal cost pricing system in the UK, which ultimately means electricity pricing is linked to the burning of gas, all this low-cost, clean energy provided by GB Energy won’t be any cheaper for the end user.
What does this mean? Ultimately, homeowners and landlords will have the responsibility to adapt their homes to be less carbon-intensive and more energy efficient.
More lenders, if not all, will need to offer some sort of support. Realistically, all homes in the UK with a current EPC rating of ‘D’ and below should have a full retrofit survey completed, with a detailed improvement plan and associated costs of what measures, if any, are possible.
Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?
Following the Grenfell Tower fire, fire safety in construction materials and assessments gained prominence, leading to the creation of the EWS1 form. However, during 2018-2019, properties without updated fire risk assessments or with high-risk materials faced financing challenges, impacting purchases, sales, and remortgaging.
In one case, a landlord seeking finance across three properties to buy a holiday home encountered hurdles. A high street lender declined the application, citing fire risk concerns related to a ground-floor restaurant. A second lender also flagged fire safety, requiring an updated building-wide risk assessment. After extensive efforts to identify the issue, it emerged that cladding near the building’s entrance was the problem. The lender proceeded at a lower LTV, allowing the deal to close.
The takeaway? Never rely on assumptions — push for as much feedback as possible.
Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
Embrace every difficult situation as an opportunity to learn and grow stronger. Even 20 years into my career, I enjoy the process of discovering something new. At times, we want to be quick and have all the answers immediately. However, real loyalty and trust comes from being transparent, open and helping our clients to become more knowledgeable around the advice they seek.
Everything changes, it’s our ability to adapt, understand, and persevere that helps us shape the future of mortgage brokering.
Broker in Focus is a weekly Mortgage Introducer feature, spotlighting mortgage brokers from diverse backgrounds and locations across the UK. Among those recently featured are Chetan Jethwa of Vistaara Financial Solutions, Kane Powell of Heron Financial, Richard Jennings of Richard Jennings Mortgage Services, Barry Wise of The Mortgage Pod, Bob Singh of Chess Mortgages, Matt Davey of Peritus Private Finance, Chris Hall of 1st Call 4 Mortgages, Akhil Mair of Our Mortgage Broker, and Bola Anike of Elmgrove Financial Services.
Are you a mortgage broker interested in being featured? Email the author with your details.
