Don't be afraid to voice your opinion, says lending executive
Young people coming into the industry should aim to learn from strong, challenging mentorship and a wide network of contacts, according to industry expert Claire O’Brien.
O’Brien (pictured), head of underwriting at Alternative Bridging Corporation, advises too that those working in the industry shouldn’t be afraid to voice their opinions.
A wide range of experience in the sector has seen O’Brien hold key management roles for a variety of businesses from NatWest, to Allied Irish Bank and United Trust Bank (UTB).
“The finance sector has been my home for the last 30 years,” O’Brien told Mortgage Introducer.
“I started off my career with NatWest, working in a local branch, before seeking a move into a business centre in the West End of London, which is really where I cut my teeth in property lending. After gaining lending experience, I moved to Allied Irish Bank, where I grew as a relationship manager, working my way up through the business in both lending and leadership roles.
“I moved into the bridging sector in 2019 and had a fantastic four years with UTB, before taking up the exciting challenge that Alternative Bridging has presented me with.”
How can entrants into the mortgage sector develop their talent?
O’Brien clearly retains her enthusiasm for the financial services sector, even after so many years of service to it.
“My passion for getting a deal across the line keeps things exciting for me, as does helping younger talent to develop,” she said.
“I have worked with some inspirational figures over the years, whom I have learnt a great deal from. My advice to younger people entering the sector is to have a wide network that you can learn from. Having a strong advocate to challenge and mentor you is invaluable.”
During her career, O’Brien has learned the importance of speaking up and expressing yourself in the industry. “Never be afraid to have a voice and give your opinion,” she urged.
She considers Alternative Bridging a specialised lender that excels in bridging and development funding, with a deep understanding of property at the heart of its business.
“We have a wealth of knowledge and experience,” O’Brien noted, “from our board through to our in-house asset management team, long-standing and experienced underwriting team, and our tenacious sales team.
“I head up the underwriting team. We pride ourselves on understanding every deal and underwriting efficiently to ensure we secure funding for our brokers and their clients that meets their needs. We are constantly reviewing what we do and how we do it to ensure we can offer best-in-class service and underwriting solutions.”
Read more: Alternative Bridging upgrades website
What challenges face the mortgage industry in 2024?
Turning to the current market and its challenges, this is a time of change, O’Brien believes.
“I think this will be a year of adjustment, as borrowers get used to a higher rate environment and activity gradually begins to increase again,” she said.
“It feels as though we have weathered the worst of the storm, but there will still be many investors coming to the end of a low buy-to-let mortgage rate who will experience a payment shock. Property investors and business owners have an increasingly diverse range of circumstances.
“Brokers have the chance to help them navigate the environment and open up new opportunities. Often these opportunities will require alternative types of property lending, and we’re available to help with those enquiries.”
She continued: “There is, of course, a general election coming, which always creates uncertainty, but I’m hopeful that the outlook will be more stable and ever more positive as the year progresses.”
With polling day not too far away, of course – on a date yet to be declared - what support could politicians give to the industry?
“I just hope that there isn’t too much intervention in the sector,” O’Brien commented. “We obviously need to build more homes and developers would welcome meaningful measures to encourage this. But overall, we have a very competitive and healthy property lending market that will thrive in a stable environment.”
