Lending executive predicts more market activity and liquidity
Increasing numbers of property investors are eyeing up opportunities to buy, in anticipation of an uplift in the economy, it’s suggested.
Marcus Dussard (pictured), sales and marketing director at bridging lender KSEYE, predicts a much more active market this time next year, and calls for greater recognition of the private rental sector by Westminster’s decision makers.
“We may technically be in a recession now, but it does feel like the market has weathered the worst and there is light on the horizon,” Dussard confirmed to Mortgage Introducer.
“Professional property investors are always active, but we are seeing more mid-tier investors starting to look at buying opportunities ahead of a future upturn. In 12 months’ time I think we will see a lot more purchase activity and liquidity in the market.”
What can politicians do to support the mortgage industry?
As the UK gears up for a general election, most likely this year, Dussard urges its politicians to prioritise action over words.
“We’ve recently had another announcement about relaxing planning rules to encourage more development, and that was obviously positive,” he noted.
“But we have heard announcements like this in the past and little has changed in reality. So, I’d say the most important thing would be to turn words into action when it comes to stimulating the market.
“It would also be good to see more recognition of the private rented sector and its role in housing a fifth of the population. We are moving to a more European model where people rent for longer and it’s important that the stock of rental property reflects this demand from renters.”
He explained: “There is still a lot of uncertainty around. For brokers in a changing environment, managing client expectations is always a challenge, particularly when it comes to transaction times as there continue to be delays in the conveyancing process. So, working with a lender you can trust remains vital.”
READ MORE: KSEYE completes £850k commercial bridge in under 24h
How should mortgage brokers approach business?
Advisers need to maintain an open approach to their cases, Dussard believes.
“I’d say the biggest barrier to success for brokers is sticking to old habits and the usual lenders,” he remarked. “There are so many options out there for clients, from lenders you may not have considered previously, and you could miss out on the right solution if you’re not open-minded.”
London-based KSEYE, has 12 years of lending history, worth over £600 million. Dussard moved to the specialist lender, from Hampshire Trust Bank, last year.
“I’m looking forward to helping KSEYE to be similarly successful in its growth aspirations,” he declared. “We pride ourselves on building strong relationships with brokers. For those who have used us, our service and pragmatic approach to lending is a major stand-out from our competitors.
“My role as the sales and marketing director is ultimately to broaden the number of broker relationships we have, using my extensive knowledge and experience in business generation. I already have a lot of relationships with brokers. Now, my job is to get KSEYE onto their lists of the bridging lenders they trust, to meet their clients’ needs.”
The company prides itself on its strong links with a diverse range of funding lines, enabling it to give great certainty of funding. The lender continued to lend throughout COVID, Dussard said, and was also nimble in its approach during the period of volatility following the mini-budget. It has access to an in-house legal team, which means it can often expedite conveyancing by highlighting any potential hurdles upfront.
So what, then, is the key business lesson that guides Dussard’s career?
“My business lesson is the same as my life lesson,” he observed. “Treat people how you want to be treated. Whether you’re talking to a CEO or an intern, treat everyone with the same level of respect that you would expect – demand - from them.
“By doing that you build empathy, which can be hugely beneficial to finding solutions for brokers, clients. That empathy can also work in being able to say no. For deals that are just not within our appetite a quick and firm no is a lot better than stringing people along.”
