Broker on the rise of self-employed mortgage requests
Navigating the maze of mortgages can be a daunting task for anyone, but for clients with complex credit situations it often feels like an insurmountable challenge. Remoo Mortgages, under the leadership of Ceri Evans (pictured), specialises in helping these individuals - a niche born out of personal experiences. She’s flying high as we go into 2025.
“Even though I was a mortgage advisor... I still found that process incredibly stressful, incredibly difficult," Evans admitted, recalling the difficulties he and his wife faced when securing their own mortgage. It was this realisation that became the foundation for Remoo Mortgages, a firm dedicated to supporting clients with unconventional financial profiles.
The firm's target audience includes sole traders, company directors, and those with mixed income streams or adverse credit histories—groups often underserved by mainstream lenders.
"The very nature of being self-employed sometimes comes with periods where you can't necessarily stretch to pay all your bills," Evans explained. For these individuals, financial hiccups like defaults or County Court Judgments (CCJs) are not uncommon, making traditional mortgage approvals difficult.
One of the most significant barriers Evans encounters is the industry's treatment of late or missed mortgage payments.
“We're seeing clients coming to us who may have missed or just been late on a mortgage payment... it shows as a status one on their credit report, and that can be extremely difficult to deal with."
Despite challenges, Remoo Mortgages has carved out a reputation for crafting innovative solutions. Evans shared several standout cases, including one where the firm expedited a mortgage for a client who had declared bankruptcy less than three years prior.
"We turned it around to complete within six weeks," he said proudly. In another case, the team secured a complex joint-proprietor mortgage for a woman trying to retain her home after a separation.
"We used multiple incomes, including her own salary, benefit income, and a Joint Borrower Sole Proprietor," Evans added.
Building and maintaining a steady pipeline of business has been crucial to the company’s growth. Networking has played a significant role in this endeavor.
"Anytime we can get in front of a group of other business owners is fantastic," Evans said. Social media has also been a valuable tool, even if the firm’s online presence is modest.
"Sometimes that's half the battle—just to continue to be present," he explained.
And, while Remoo Mortgages began as a local operation in South Wales, its reputation has spread far beyond the region. "We’ve now got clients all over the UK... in Scotland, London, Manchester, Birmingham and Liverpool.”
This demand reflects broader trends in the mortgage industry. Evans noted a gradual shift among lenders towards more flexible income assessments for limited company directors and sole traders.
“We're seeing lenders work off either salary, net profit, or company income," he said. "There’s probably a little bit of work to do from other lenders to come into that space.”
Managing client expectations in such a volatile market is another crucial aspect of the firm's work. With interest rates fluctuating unpredictably, clear communication is key.
"It's about honesty and working with the client," Evans said. "If rates are coming down, we'll always manage that for a client... but that's always done in conjunction with them."
Evans was candid about the advantages and challenges of working with specific lenders. He singled out NatWest, Leeds, and Accord for their willingness to collaborate on complex cases.
"Access to underwriters is a massive, massive bonus. If the big six banks don't allow access to underwriters, they really need to look at the kind of business they want.”
Looking to the future, Evans envisions a shift in the mortgage broker-client relationship, moving away from a purely transactional model.
"We want to build relationships over a longer period. We are driven by client outcomes, by people outcomes,” he said.
Beyond serving clients, Evans is passionate about shaping the future of the financial services industry. He expressed a strong commitment to fostering young talent, having recently brought on three apprentices aged 16 to 24.
"There’s a lack of young voices and opinions within this industry," Evans noted, stressing the importance of increasing diversity and inclusivity. Evans also highlighted the need for more women in the field, reflecting the shifting demographics of decision-makers in households. "Women will look to other women for advice, and I think that's really important," he said.
