SPECIALIST MORTGAGE GROUP (Cardiff)

Origins

The initial aim was to serve the entire UK by creating a well-run and consistent brokerage coupled with efficient back office systems

Our main challenges when starting the business

The initial difficulties came in having enough capital to fund a growing organisation and so it sought angel capital to fill the gap. Eventually, the business pipeline began to convert, generating enough cash in-house to operate profitably across the whole country.

Success Factor

The business is always challenging and improving the industry best practices. From its nationwide courier service to its in-house built sourcing system, miLoanbroker, it has always challenged its industry’s best practices to provide clients with a better customer experience. It introduced the concept of a nationwide courier service sixteen years ago and is always thinking of ways to improve the service. Another part of its strategy was to identify and then acquire competing brokers that it felt had the potential for rapid growth when combined with the group's centralised services i.e. marketing, finance, IT, couriers, lender relationships etc. It has also expanded its services internally with the creation of Y3S Private Clients a specialist division that works exclusively with high net worth individuals and B2B Financial who work with the UK’s Challenger Banks to provide specialist commercial finance. Finally, talent and culture are very important to the industry and it is the expertise of the firm’s advisors that differentiates it and the ability to attract, retain and develop people has kept it ahead of its competitors.

The Future

The Specialist Mortgage Group has diversified its interests by funding start-ups and acquiring competitors. This has proved to be a winning formula for all involved and it will continue to look for additional opportunities as it progresses. The specialist market is still underserved and part of the group-wide strategy is to build an increased national presence for an industry that is set to explode. It has opened two satellite offices this year, in Manchester and London, under the Y3S Loans brand and it will look to expand these offices while adding additional locations over the next few years. The business has always been at the forefront of technological innovation within the sector and are working on a new platform that will once again redefine the specialist mortgage market. Over the past year, it has developed an internal tool to streamline business processes and reduce the administrative burden on brokers by connecting directly with lender’s underwriting systems. The Specialist Mortgage Group is in the process of creating a version of this software that other specialist brokers will be able to use and its goal with this project is to work with competitors to grow the specialist lending sector and gain business from other forms of finance.