Broker who returned to advising after 10 years, shares her 'greatest reward'
Inspired by her parents, who were the first people in their town to buy their council house, broker Joela Jenvey enjoys helping people achieve their own homeowning dream.
For independent mortgage and protection adviser Jenvey (pictured), the moment when a client receives the key to their property is ‘the greatest reward’, in a profession which she still believes is a fantastic career for anyone, even after 25 years working in mortgages.
Jenvey returned to advising earlier this year through her own firm, Nurture FS, in the South Hams in Devon, after a 10-year break, which saw her hold roles as a regional account manager for Foundation Home Loans and as key account manager and head of national accounts for Landbay.
Previously she had worked for Lloyds Banking Group and Bank of Scotland, but the spark of an idea to become a mortgage broker came earlier when she bought her own home at the age of just 23, while working in customer services.
“My parents were working class people, very hard working, and they were the first people in our town, of Andover, in Hampshire, to buy their council house, for £3,000,” Jenvey told Mortgage Introducer. “My dad was always very proud of that, and he instilled it in all of us to get some security and make sure that you had your own home, a home to call your own for yourself and your family.”
With a £5,000 deposit and a mortgage from Abbey National, Jenvey bought a £54,000, two-bedroom house – a profound moment for her.
“It was the sense of taking some kind of control over my own life, at a reasonably young age,” she recalled. “I just relished the process, and learning what I could as we went through it, with the introduction of solicitors and then ending up obviously with that buzz of receiving the keys to your first home.
“It’s quite a big milestone, isn’t it? It’s a big dopamine hit for people when they go through any kind of transaction like that, but I think it’s the strongest when you’re a first-time buyer.”
Motivated by her experience, Jenvey secured a job with Halifax estate agency, where she trained to become an inhouse mortgage adviser, supported by the company to complete her CeMAP qualification.
“It was a big thing for me,” she said. “I just loved it. I knew I was heading in the right direction, and I was going to be doing something that I enjoy, where I felt that I was actually adding value and helping people reach their goals.”
Eventually she worked for herself as an adviser, but despite the enjoyment the role gave her, Jenvey was attracted by what she perceived at the time as the glamour of working as a business development manager. She made the move across to lending.
During this time she worked with startup lenders, which gave her the grounding to this year set up what she considers a solid broker business.
How has the mortgage market changed over the last 10 years?
“The market has shifted a lot during the last 10 years,” Jenvey reflected. “Technology has improved, which has benefited the efficiency of the advice process and has meant we have been able to cater for the shift in customer behaviours.
“The one thing that has not changed, and if anything has become more important, is that customers still want to deal with mortgage advisers with access to the whole of the mortgage market - real people not websites.
“Even what would have been classed as vanilla deals in the past are now more complex, especially in the BTL sector. It has become more difficult for cases to proceed on a direct-to-lender basis and the knowledge, service and expertise of the mortgage broker is more valuable than ever to ensure the best outcome for the customer.”
Jenvey confessed it’s hard not to take her work home with her, when she’s dealing with something that’s so important to people and they are counting on her.
“I think most good advisers will constantly think ‘have I remembered to do this’ or ‘have I forgotten to do something?’” she observed. “It’s sometimes hard to switch off.”
Read more: Are landlords losing their incentives to remain in the buy-to-let market?
What’s the advice for someone coming into the mortgage profession now?
Her advice to someone coming into the business now is to align themselves with a supportive firm that has the resources support them while they learn; that is not just interested in volume, but has a focus upon quality and the customer journey, and employee wellbeing.
“Apart from that, absolutely do it, enjoy it and trust that there are many great opportunities within it,” Jenvey said. “It’s hard work, its stressful at times, but the rewards outweigh the challenges, and not just financially. I have made friends for life in all parts of the industry and all over the country, people that I may not have ever met otherwise.
“There is a supportive network between lenders and providers and with broker firms meeting at industry events, and most are happy to share best practice and tips on how to succeed.”
She concluded: “The feeling of being part of the customer journey and sharing the delight when they receive their keys, for me, is the greatest reward. I still get the biggest buzz from helping first-time buyers, and maybe that does tie into why I got into the industry in the first place - because a broker helped me. I want to pass it on.”
