One to One: Russell Anderson, customer retention and partnerships director, Paragon – Mortgage Strategy

Are you able to present a quick overview of your profession up to now?

I’ve labored in banking since 2002 and in mortgages since 2007.

Throughout that point I’ve labored at a few of the bigger retail banks, together with Lloyds, Santander, RBS and Financial institution of Eire, and now I’m actually pleased to be at Paragon.

I’ve labored in plenty of positions, beginning as a department cashier, and this has given me a breadth of expertise throughout customer-facing and administration jobs.

What’s the foremost premise of your function?

It’s about creating and executing Paragon’s retention technique. A key a part of that is constructing robust relationships with our middleman companions, serving to them to, in flip, construct robust relationships with their landlord prospects.

Though we’re competing towards one another, it looks like wholesome competitors and we’re all attempting to get one of the best final result for our prospects

These relationships, alongside contact methods whereby brokers are in common contact with their purchasers, assist to supply us with a transparent image of a landlord’s enterprise and future plans.

Figuring out issues equivalent to when a landlord’s present mortgage is because of mature, and if they’re planning to spend money on the close to future, means our middleman companions may be proactive in retaining and securing enterprise.

I head a staff that’s devoted to supporting brokers to do that. I additionally assist to form our product proposition, working with our business staff to make sure our merchandise work for the shoppers we wish to retain.

Our landlords are offering good-quality properties for tenants. There’s an oblique social good

I nonetheless get entangled with instances too as a result of discovering options is one thing I’ve at all times discovered rewarding, particularly once I know I’ve helped somebody develop their enterprise and supply a tenant with a good-quality dwelling.

What are your foremost ambitions in enterprise this 12 months?

Final monetary 12 months we retained eight in 10 prospects, which we’re actually happy about, however we wish that to be 10 out of 10; that’s the ambition. To try this and proceed with the momentum we’ve constructed, we’re evolving our retention technique.

One among my bosses informed me that, if I needed to progress, I’d must sort out the duties I used to be avoiding first

At a extra tactical stage, we’re doing plenty of work to enhance the dealer expertise so it’s simpler than ever for them to position enterprise with us by way of our on-line portal and with the assist of my staff and our underwriters.

In your opinion, what’s the greatest problem at the moment confronted by the mortgage market?

Though issues have improved since final 12 months, the political and financial instability has stored rates of interest greater than many are used to. This poses a problem for debtors, brokers and lenders.

Like companies in nearly all industries, we’re attempting to stability offering worth to prospects and being financially sustainable, however lenders face the problem of fixed modifications to what we pay for our product, referred to as the swap fee. Now we have to be responsive to those modifications to remain aggressive and provide charges that debtors can afford, whereas making certain we defend our margins.

What’s the neatest thing in regards to the business?

The most effective factor in regards to the business is how rewarding it’s.

We’re discovering options that assist landlords — whom we see as SMEs — to succeed in their enterprise objectives. In flip, the landlords are offering good-quality properties for tenants who need or must hire. There’s an oblique social good.

A key a part of my function is constructing robust relationships with our middleman companions; serving to them to, in flip, construct robust relationships with their landlord prospects

I additionally wish to point out the sense of group. It looks like a really welcoming business the place you’ll be able to go to occasions and award ceremonies and have a superb catch-up with acquainted faces. Though we’re competing towards one another, it looks like wholesome competitors and we’re all attempting to get one of the best final result for our prospects.

What’s one of the best recommendation you’ve obtained?

Though I’ve at all times had a superb work ethic, I’d usually keep away from or delay duties in the event that they weren’t issues I used to be good at or loved doing.

I nonetheless get entangled with instances as a result of discovering options is one thing I’ve at all times discovered rewarding

One among my bosses informed me that this could place a glass ceiling over my head and, if I needed to progress, I’d must work exterior my consolation zone extra and likewise sort out the duties I used to be avoiding first. The idiom is, ‘Consuming the frog first,’ in order that’s caught with me to this present day!

Should you didn’t work within the mortgage business, what different profession would curiosity you?

I’d prefer to have been a lawyer, however I messed a couple of bit in school and didn’t get the grades — one in all my greatest regrets.

I’d additionally prefer to have performed one thing enjoyable on telly, equivalent to be a game-show host or one thing like that.

This text featured within the July/August 2024 version of Mortgage Technique.

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