Newsletter October 2015

CML Publishes 2014 Market Share Data

The top five lenders provided two thirds of all mortgages issued in 2014, up slightly on the 2013 figures. These market heavyweights are: Lloyds Banking Group, Santander, Nationwide, Barclays and RBS.Between them these five companies lent over £134 billion to the British public, up from £111 billion in 2013.

Homeowners Not Ready for Rate Rise

With the Bank of England base rate not having moved for 6 years, there is growing concern that homeowners on variable rates have become complacent.A recent YouGov survey found that 78% of homeowners on SVR mortgages have not prepared for the likely rate rises. Many were also found to be oblivious to what rate they were currently paying and by how much their payments could potentially rise.

Company News

We are proud to announce that First Mortgage has been shortlisted for the Scottish Business Awards! We are nominated for the PwC Commitment to Company Values award. With George Clooney being the guest speaker at the awards on 12th November, demand for tickets is sure to be high!

Meet the Advisor

In this month’s edition, we caught up with Wendy Whyte, our Regional New Build Manager for Dundee. She took the time to give us her (working) life story and her first celebrity crush! Read on to find out more.
Tell us about your job and what’s involved on a typical day?I love my job and I’m typically in office around 8.15. Put the kettle on, have a large cup of tea and check emails ready for the day ahead. Then I catch up with the rest of team to assess what the day holds for us all. Checking applications, preparing for sign ups, then on to the appointments with clients.

These can be new builds, buy to lets, or people looking for their next homes. I enjoy this part the most as I meet such a wide range of clients, from people looking for their first homes to families moving somewhere larger. They all have a variety of occupations and no two cases are the same which makes it more interesting.

What previous roles and experiences led you to your present position?

I have always worked in financial services and started work for TSB when I left school many moons ago. I have been involved in mortgages from the whole of the market since 1991 so have seen many changes, some not so good but mostly positive, and I can’t see myself doing anything else.

What do you like most about this company?

I love working for First Mortgage and I have done for over 9 years now. You are allowed to be yourself and always get lots of support and encouragement from management and colleagues alike. We ensure clients get the best service and advice and are a key part in such an important and exciting part of someone’s life.

What do you consider the key challenges for the mortgage industry this year?  

There are fewer challenges this year compared to recent years. So, sticking with this positive theme, more lenders, higher LTV and more deals available are all good news.

Who’s been your greatest hero?

My biggest hero has to be my Dad, who sadly is no longer around. I know he would be very proud of me and always encouraged me to push myself forward.

What’s on your desk?

My desk has all the usual stuff, but pride of place belongs to a photo of my gorgeous 3 year old granddaughter – she brings home what life is all about.

If you could, what advice would you give your younger self?

If this was possible, would I have changed much? Probably not too much to be honest!

What did want to be when you were a child?

When I left school I had no idea what I wanted to do. I had 3 job offers when I left school, all different industries, but I selected banking. And hey, here I am, no regrets at all.

What’s the worst piece of advice you’ve been given?

To get my hair cut mega short when I moved back to Scotland – that was scary but at least it grew back!

Who was your first celebrity crush?

Topically now, this was Bay City Rollers. I had all the gear and no, I’m not attaching the photo that the local paper published when friends & I managed to get tickets for a concert.

And finally, who is your current mortgage with?


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