Jane Simpson and Sally Wright recently joined Paragon Bank’s Mortgages division as national account managers for networks and clubs. We talk to them about their new role.
Can you tell us a little about your career to date?
Jane: Having previously worked for TBMC, a master broker and mortgage packager, for 18 years, I’ve almost been on the other side of my new role, dealing with national account managers from the brokers’ perspective. I built most of my industry relationships during my time as TBMC managing director, but before occupying that role I’d worked my way through the ranks and held a number of different positions, such as a processor and salesperson. This means I interacted with lenders in a range of capacities, so I feel I can bring a breadth of experience to my role at Paragon.
Sally: Like Jane, I’ve gained a broad range of experience by working in lots of different roles within financial services. It was working as a cashier many years ago that first exposed me to mortgages and I liked the idea of helping people buy somewhere to call home, so became an adviser. In my career, I have been an underwriter and worked in mortgage packaging, but for the last 17 years my career has been within sales management roles for the likes of OSB, Vida Home Loans and, more recently, Hampshire Trust Bank as head of national accounts.
What attracted you to Paragon and what are your first impressions since joining?
Jane: With TBMC being a buy-to-let specialist and Paragon a specialist lender, it seemed like a natural fit.
That said, after working at one place for the past 18 years, wherever I landed was going to be a big change so it was important for me to go for a role where I’d be with people I really wanted to work with. That’s definitely the case with Richard Rowntree and Louisa Sedgwick.
Sally: One of the main things that attracted me to Paragon is the company’s well-respected brand. People are proud to work here and that’s something that’s important to me.
I echo what Jane said about the leadership team. Having worked with Louisa previously, it is great to link up again but this time alongside Richard Rowntree, who is a great role model within the industry.
My first impression, and I know this is something that Jane has felt too, is that everyone is so open to the national account manager role. That’s both within Paragon and externally. This role hasn’t been in place before and people in the market seem excited by the opportunities of working closer together.
After having settled into the role, what are you focusing on?
Jane: I imagine everyone says this when they start a new job, but I really do feel excited, and I’m sure Sally feels the same. It’s a new role and I’m keen to tell the Paragon story, educating networks and clubs about our proposition. We see a huge opportunity to build profile with our key networks and clubs, helping to educate brokers about the opportunities for the buy-to-let sector and working with Paragon.
Sally: Being a new role, our goal is to get out there and build relationships; not just from a sales perspective, but also with the range of different people within Paragon who can collaborate with firms to ultimately place more business. The brokers that use Paragon value the business and the proposition – our focus is to take that to a wider audience through the brilliant networks and clubs that we have on panel.
What, if any, are the main opportunities for brokers utilising networks and clubs?
Sally: With product transfers driving the market over the past year, we know that brokers have been working as hard as ever but that may not be reflected in returns. Speaking to people in the industry, I’m hearing more about diversifying to create additional revenue.
This can be achieved by moving into specialist areas, such as HMOs and multi-unit blocks, incorporation or limited company cases, for example, which are areas that Paragon specialises in.
Our networks and clubs operate fantastic helpdesks that are a fountain of lender knowledge and provide great insight as to where tricky, complex BTL cases can be placed and should be utilised to provide advisers further opportunity.
Jane: Although the uncertain economic period we’ve experienced over the past few years has been challenging, I think we are starting to see some stability return.
I’m sure some of the recent regulatory developments, such as the pushing back of Section 21 until courts are reformed, will be welcomed by landlords and will help to boost confidence. We’re also seeing rates start to come down, while demand for rented homes seems as strong as ever, so I think those who have maybe put investment on hold over the past year or so will start to be more active in the market.
A lot of the brokers I’ve worked with potentially see buy-to-let applications as one-off transactions, but I think there is a real opportunity for those that pivot towards the sector, particularly with regards to acquisitive landlords committed to building portfolios.
By getting to know these landlords and offering them good advice on the whole range of topics related to buy-to-let, brokers can secure repeat business as clients modify their portfolios throughout their landlord career.
