Broker in Focus: Luke O’Sullivan, The Loans Engine
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.
This week, Mortgage Introducer puts the spotlight on Luke O’Sullivan (pictured), head of intermediary relationships at The Loans Engine, whose hands-on experience in specialist lending as an advisor paved the way for his current position.
Full name: Luke O’Sullivan
Job title: Head of intermediary relationships
Company: The Loans Engine
Number of years in the industry: 28
Location: Bedfordshire
How and when did you become a mortgage broker?
I started my career in finance over 20 years ago, and along the way, I’ve had the opportunity to explore lots of different areas across the industry. In 2016, I joined The Loans Engine with the remit of creating and launching our bridging and commercial proposition. It was an exciting challenge, and after successfully leading the team and getting it off the ground, I moved into an advisor role.
In this capacity, I worked on a range of complex cases across bridging, buy-to-let, commercial, and development finance. Now, as head of intermediary relationships, I’m fortunate to lead a great team of relationship managers. I meet with brokers, attend network and club events, and offer support on their complex cases. It’s a great opportunity to share the knowledge and insights I’ve developed over the years.
In your opinion, what has been the most positive development in broking?
One of the most positive changes in broking for me has been the rise of bridging finance as a mainstream option since the crunch. It’s a highly versatile option that can address a wide range of scenarios, so it’s great to see it gaining more traction.
Another positive development has been the rise in the number of challenger banks in the commercial sector, like Together, HTB, Interbay, and Allica Bank to name a few. These lenders offer great products, rates, and criteria not found on the High Street, making it easier to support brokers and their clients in securing the funding they need to achieve their goals.
What challenges do you see currently facing the industry?
One challenge I’ve seen in the industry is the increase in stamp duty on additional properties. It’s starting to stagnate the market and is making the buy-to-let sector tougher for landlords. Personally, I think reversing the stamp duty change could make a difference in stimulating the market.
Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?
In the early days, every case was a learning opportunity. You had to absorb a lot of information and work efficiently. There have been so many memorable cases, it’s hard to pick just one. What I love most is working with brokers and their clients, helping them get deals over the line. I find satisfaction in every case I handle.
In my current role as head of intermediary relationships, I’ve had the chance to be on the road more, meeting our broker partners face to face. I’ve really enjoyed this, and it’s allowed me to strengthen relationships I’ve built over time.
Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
Google will be your best friend! Whether it’s using maps to research properties or digging into various solutions, it’s an invaluable tool when working on cases and supporting brokers and their clients.
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 Simon Allen of Searchlight Finance, Charn Gandham of Chancery Consultants, Ifthikar Mohamed of WIS Mortgages, Lee Trett of Echo Finance, Keith Humphreys of Pinpoint Commercial Finance, Nick Hayes of Pia Financial Solutions, Alan Kent of Viable Mortgages, Chetan Jethwa of Vistaara Financial Solutions, Kane Powell of Heron Financial, and Richard Jennings of Richard Jennings Mortgage Services.
Are you a mortgage broker interested in being featured? Email the author with your details.
