Brokerage exec on why charity matters as much as business
Rightly or wrongly, there’s a perception among some in the wider world that most mortgage brokers are squarely focused on making money – but if that’s your sole aim, you won’t fit in at Yellow Brick Mortgages.
Certainly, the Norfolk-based brokerage is business minded, but it has an ethos that’s committed to improving the world beyond the mortgage sector.
It’s the reason why Yellow Brick Mortgages scooped the Excellence in Philanthropy & Community Service title at The Mortgage Introducer Awards 2024, for its socially-minded approach.
“When we're doing our recruitment, we look for certain types of characters, and if money is the only orientation you have, then ultimately you're not for us,” its managing director, Greg Marcham (pictured left), told Mortgage Introducer.
“So, to have a culture that is about giving back and great service you have to have people that believe that alongside you. I'm sure there are individuals out there that do things solely for money. I always like to think that there's nobody within the Yellow Brick brand that does that, and actually they do see that by helping someone to get a mortgage and purchase their dream home and then helping others off the back of that is a positive experience for all.
“When we set up the business, there were two key areas - service and giving back. So, it's been core to our ethos over the last six-and-a-half years. I've been a foster carer now for about eight or nine years and I've seen some really challenging scenarios come to my doorstep and try to support children that have ended up in difficult situations through no fault of their own.”
Yellow Brick Mortgages makes a charitable donation for every completed mortgage, with each client choosing the beneficiary. It has three charity partners – a cancer charity, a children’s bereavement charity and an animal sanctuary – which have benefitted to the tune of around £160,000.
It sponsors local sports teams, and plants trees to remain carbon neutral, as well as offering a fee-free service to NHS staff.
“We’re aware that in today’s economic background, supporting charities has never been more critical," Marcham said. “The more people that get involved in helping the community, the better that community is and the more it thrives.”
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What makes a successful broker?
Underpinning all of Yellow Brick Mortgages’ charitable work, of course, is its day-to-day business. It has 62 brokers in its team, and Marcham has a clear view of what will make a broker successful.
“Work hard and keep great habits, and if you do those two things together, then ultimately success follows,” he said. “I think listening is probably the key asset. Someone who can listen, someone who understands that when you're sat with somebody, it has to be about their need, what are they looking to achieve - trying to get that from the client in a personable manner, so that the client feels comfortable in giving that information. We can then do the very best job to find the right solution to their challenge. If you've got that, then you've got a fighting chance of adding the rest to it.”
Uncertainty has persisted in the market, with some movement on mortgages rates, but Marcham remains optimistic heading into 2025.
“Things change very quickly, and whether the rates go up or down will fundamentally change what happens over the next 12 to 24 months,” he said. “We can see a positive movement down in the longer term that will enhance people's opportunity to go and buy property.
“The market moves very, very quickly – there will always be fits and starts of different things that come in and out of the business. Ultimately the only thing that we ever prioritise here is about service. If we give great service, it doesn't matter what comes across our path.”
So, what is the best business lesson that Marcham has learned during his 22-year career?
“When you get frustrated, forget about it and move on,” he said. “In my youth, if something didn't go quite my way, then frustration would haunt me for a period of time, and I’d end up wasting time worrying about my frustration and what didn't go quite right.
“I've realised now that, as I always say to my children, life isn't fair and ultimately, when you accept that, it's far, far easier moving on and, and doing something positive.”
