INTELLIGENT LOANS (Cardiff)

Origins

Intelligent Loans was launched in the midst of economic and financial turmoil and the directors backed themselves to ride the storm and deliver outstanding service to the UK mortgage broker market.

Our main challenges when starting the business

The directors quickly identified that its core business was fundamentally a strong proposition that could be enhanced with addition of suitable complimentary products. The business soon offered buy-to0let and bridging products in addition to second charge mortgages. The knowledge gap was soon overcome and the business success is certainly attributable in part to this.

Success Factor

One of the key influencers on the success of the business has been the emergence of challenger banks. Traditional high street lenders have restrained the lending since the financial crisis and a new breed of forward thinking, technology capable lenders sitting in the tier beneath the high street have an appetite to lend in high volume based on flexible qualifying criteria. Rising house prices over the period has also created equity within owner-occupied and residential investment properties. Borrowers have capitalised on this and used funds to improve property or invest in additional stock. The average balance of the individual loans has risen from circa £40,000 to £100,000 with many individual transactions in excess of £250,000. Finally, borrowers now experience interest rates well below 4 per cent per annum for second charge loans and 0.5 per cent per month for bridging loans. At time of establishment, these rates were approaching 7 per cent and 1.25 per cent respectively.

The Future

Intelligent Loans plan to continue its sustainable growth through a structured trainee programme that has been developed to offer new starters without industry knowledge the opportunity to become fully competent compliant mortgage advisers. The business is committed to people development and providing clear career paths and senior management positions shall be filled internally via a continuous platform of new starters. Intelligent Loans has worked hard to build its customer base throughout the UK as well as Wales and plans are in place to continue to market the brand to its network of introducers and invest further in its bespoke CRM system to enhance its cross-selling opportunities across its product range.