Brokers share their advice on couples working together
The world of mortgages can be challenging, but is working with your partner a challenge too far? Broker Saam Lowni (pictured left) certainly thinks so – he admits that when he brought his wife into his business it wasn’t a successful move.
“At Merryoaks Property Finance, we’re all about relationships,” Lowni said. “So, naturally, when I started Merryoaks, I thought why not bring in the people who already know me best? My spouse, some close friends, even family. The gesture was genuine. Build something meaningful, share the wins, do it all together. At one point, it was agreed that my wife would join the business to support so we could grow together. Let’s just say, it was the longest three weeks of my life. And yes, I can laugh about it now, kind of. Working with family and friends sounds great in theory, but in reality, if you’re building something special, something that needs precision, trust, and high performance, you need to be a bit more strategic.”
He added: “I had to make a hard call, or rather, a mutual one - we couldn’t work together. It wasn’t personal - it was just business. So, here’s my advice for anyone building a team. Keep your relationships strong outside the office and fill your business with the right skillset, mindset and ambition for it inside. If you lack one of those three, unfortunately you are likely to come unstuck at some point.”
Lowni’s experience is thought provoking for anyone in the mortgage industry who’s ever been tempted to mix business and pleasure, by bringing their other half into their venture. It raises the question of whether working with a personal, rather than purely professional, partner is a good business decision. It can work for some brokers though.
As the co-founders of brokerage Meet Margo, Claire and Matt Towe, (pictured centre) didn’t set out to work together. “It happened because we saw a problem that needed solving,” says Claire Towe. “Before COVID, Matt was working in financial services and I was in creative comms for big consumer brands. But when I was on maternity leave with two under two, I started supporting Matt with his social media. That’s when I noticed so many women reaching out with the same fears and frustrations about managing their home finances. So, from our kitchen table, we built a brokerage with one clear mission, to make great mortgage advice accessible to more women and empower them to take the next step, whatever their circumstances.
“There are challenges when both partners are in the business. It’s easy for work to bleed into every part of your life. We’re still trying to get better at this, but we’ve had to be intentional, setting clear roles and carving out proper time off. Even family holidays can be tricky when you’re both stepping away from the business. Most of the time it’s figuring out our priorities.”
What would be her advice to others in the industry considering such a move? “Be honest with yourself from the start, could you genuinely work together?” she said. “It’s not for everyone, and that’s completely okay. But if you do decide to give it a go, it’s important to define your roles early and set healthy boundaries. It will be a challenge to separate work and home life, but when you get that balance right, it helps both of you bring your best selves to the table.”
Matt Towe points out that the upside of such an arrangement is huge. “We’re completely aligned on our mission, we trust each other implicitly, and our commitment runs deeper than most co-founders,” he suggested. “That said, in our early days an investor once told us they wouldn’t back us purely because we were married. But when you think about it, our relationship, our kids, and our home are all tied to this business, and that kind of skin in the game drives a different level of determination to succeed.” He added: “We’re clear on our roles, and we stay in our lanes, but we’re flexible. If one of us needs support, we step in and we always respect each other’s input. Working together can be incredibly rewarding and powerful.”
Read more: The broker who chose mortgages over firefighting and modelling
What are the pros and cons of working together?
When broker Michelle Lawson started her business, Lawson Financial, her husband Dan was in telecomms as a B2B account manager. As she got busier, he would help her with admin after work. It came to a point when the couple (pictured right) had to make a decision - and rather than bring in a new employee, they decided to work together.
“The pros are reliability, trust and consistency both for us and our customers,” said Michelle Lawson. “We know them and they only ever speak to us and know us. We don’t have to worry about staff cover, people calling in sick etc, and also where we are both responsible for the business, we are conscientious in what we do. The cons are that we spend every day all day together and it is important to not talk shop when out of work - not always possible! So boundaries are needed, especially if there are work disagreements.” She added: “It does get tense and stressful at times, can’t lie about it, but to have the flexibility for us and our family is also important. There is quite a lot of financial pressure, as all our eggs are in the one basket, so we don’t have the security and stability of another source of income. You have to know the parameters of work being work and know each other well - also, don’t work in the house together. Having a lockable, external unit helps with that.”
Dan Lawson meanwhile observed: “I will be honest and say that it doesn’t come without its challenges, but the key takeaway is communication. We are fortunate enough to be able to walk away from work and shut the door on it in the evening and at weekends. Sometimes the conversations do roll on in to the house, but we are soon reminded by our daughter that work must stay in the office environment. I questioned the decision I made in the first six weeks but soon learnt that the positives out way the negatives. Set guidelines on discussing work within the home environment, and ensure that it doesn’t impact your home life.” He concluded: “You soon get to realise that the hard work and effort that you put in does and will give you the rewards from the time that you put in.”
