Describe your firm in a few sentences
Kerr & Watson was founded in January 2023 during a turbulent period in the market due to the effects of the mini-Budget and general volatility; a time when the need for quality advice had never been greater.
I teamed up with Dan Watson, who has more than 15 years of industry experience, mainly working as a BDM for specialist lenders, and is a qualified mortgage broker. The combination of his business development background and my mortgage broking background seemed a great fit for a successful firm.
Our intention is never to be a volume-driven firm because the personal service we provide is key
Based next to Farnborough Airport, we offer bespoke mortgage and insurance advice, working alongside carefully selected estate agents, solicitors and accountants to ensure all clients get the time they need for such an important decision. Taking the pain out of the mortgage process is key to what we do.
What led you to become a broker?
I was working behind a bar at a golf club and knew I needed to find something that I was more passionate about. Initially, I was interested in giving advice on investments and pensions, and I believed that becoming a mortgage adviser would be a step into that role. As a result, I put myself through the CeMap exams and landed
a position at a local mortgage brokerage.
Firms could offer an internship-type position with a lower initial wage but training candidates to a high standard
It wasn’t too long before I realised I found property and lending more exciting than investments and pensions. This was mainly due to the control a property owner has with their property (live in it, rent it to a family, create holiday accommodation, convert it to an HMO, for example) compared to standard investments.
Once I realised this, progressing as a broker became my priority.
What plans do you have for the future of your firm?
We are still early in our journey. We want to scale the business, but our intention is never to be a volume-driven firm because the personal service we provide is key.
The role is a good position for someone who has potential but feels that university is not for them
It’s a compliment when a client comes to us with a tricky scenario as they have confidence we will find a solution. So we want to keep attracting challenging cases to become more established in the complex lending niche.
What single thing could lenders do to improve brokers’ lives the most?
Make themselves easy to contact. Some are better than others at this but, given the importance of the transaction, communication is vital for a successful outcome.
Some lenders arrange for their underwriters to call brokers following a submission to better understand the case. Others make their underwriters completely out of bounds, which can lead to problems.
Kerr & Watson was founded in January 2023 during a turbulent period in the market, when the need for quality advice had never been greater
A case may decline with just a cold, automated email and may need to go to appeal to rescue it. This could have been avoided by something as simple as a phone call.
Generally, the lenders that communicate better make life easier for both brokers and their customers.
What advice do you have for a broker just starting out?
Don’t try to master the role too quickly; it takes time. You won’t know much about matching clients’ scenarios to lenders, which is fine.
We want to keep attracting challenging cases to become more established in the complex lending niche
As you become more experienced this will come, and you’ll ask clients better questions.
Learning the back end is fundamental, too. Unfortunately, much of the role is admin based. You may get to a stage where you can delegate most of it but knowing the full process yourself is important.
How can the industry encourage a new intake of brokers?
You don’t need a degree but you do need to be good with numbers and communicating with customers, which may come with time.
This makes the role a good position for someone who has potential but feels that university is not for them.
Taking the pain out of the mortgage process is key to what we do
Firms could offer an internship-type position with a lower initial wage but training candidates to a high standard; covering all costs in getting them CeMap qualified and looking to financially reward them further once they reach competent adviser status.
This could work well for both employee and employer, offering a lower initial investment for the employer and a lucrative career for the employee if they go on to prove their potential.
If you would like your firm to be featured in Broker Focus, please email Mortgage Strategy deputy editor David Burrows at: david.burrows@emap.com
This article featured in the June 2023 edition of MS.
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