Virgin Money's head of secured lending shares his top tips
Brokers must keep in touch with their client base, maintaining their visibility and presence in a rapidly evolving mortgage market, according to Virgin Money’s head of secured lending, Craig Calder.
“If I think about change, the industry has undergone a significant transformation during my career and in some ways is unrecognisable,” Calder (pictured) told Mortgage Introducer. “Whether it's greater levels of regulation to provide customers with more protection and choice, keeping the market stable through periods of economic uncertainty or the pace of technological change.”
Calder, who has been in his position at Virgin Money since the beginning of 2023, and previously held key posts at Barclays and Royal Bank of Scotland, shared his top tips for the broker community.
“In the fast-changing nature of the current market, continued dialogue and engagement with your client base is essential,” he said. “Being visible and relevant will help keep your business front mind when clients need your guidance.
“Keep on top of market opportunities to grow or diversify your business. For example, shared ownership, buy-to-let specialisms, or offering and refining services to provide wider financial protections for your clients.”
How important is a business development manager?
Talking to a lender’s business development manager will keep brokers up to speed with the latest trends, propositions and service in an ever-changing environment, he added.
“A few things spring to mind when I look back over my career,” reflected Calder. “Be in control - recognise what you can and can’t control. Remain laser focused on what is in your gift and always bring it back to what’s right for the customer.
“Be resilient. It is amazing the challenges we’ve faced and overcame in recent years. Keep in mind uncertainty can bring new opportunities and customers look to experts in the industry to help them navigate a path.”
Calder also believes it is key to have the right support network in place.
“Whether it's at home or work, having the right people around you is vital to success,” he suggested.
Brokers are core to Virgin Money, providing the majority of its new lending, Calder shared, adding: “That’s why we have a deep-rooted relationship. Whether that’s having a dedicated, and named, BDM and telephony support for every broker, underwriter access, or our service promise.
“Brokers also play a crucial role in promoting financial inclusion. For those who may find the application process daunting, a broker can provide invaluable guidance and support. This is particularly important for first-time buyers, or those with complex personal circumstances, who can benefit from a broker's experience in navigating the complexities of securing a mortgage.”
How can brokers’ feedback help lenders?
Virgin Money regularly consults the brokers on its panel to seek feedback on how is performing, in its continual strive to improve how it brings new products to the market, backed up by service.
“We will continue to collaborate with brokers at every opportunity to develop and improve our service, technology and to help them to grow and develop their own business,” Calder said, adding that ew technology is important for efficiency but there's no substitute for expert guidance.
“A human touch also remains extremely important,” he commented. “A blend of technology, and human expertise, is what we want to achieve at Virgin Money.”
Calder said his role enabled him to “play a part in pivotal and significant moments” in mortgage customers’ lives and concluded by paying tribute to the sector’s importance.
“The mortgage industry has a special place in the wider financial services industry and plays a unique role in people's lives,” he said. “No other financial product delivers such collaboration with key players. Whether it’s lenders, customers, brokers or regulators, everyone has a view and everyone works together.”
