Get to know…Richard Thorne, our Liaison Manager for Intermediary Relationships. Richard works with many different departments within TMW to produce the best possible outcomes for our brokers.
1. Tell us a bit about your past experience in the mortgage sector.
Before joining Nationwide Building Society, I worked for RBS for around 10 years, as well as Bank of Scotland for three years. I held a variety of roles including as a Mortgage Adviser and as a Business Development Manager (BDM). I also worked as a Broker for around 10 years before finally finding my home at Nationwide! I initially joined Nationwide as a Team Manager in our Operations team and moved into the Liaison Manager role around three years ago.
2. How has your past experience helped you in your current role?
I have the benefit of a variety of experience, not only as a branch-based Mortgage Adviser, but also as a BDM, broker and Operations Manager. This means I can see things from lots of different angles, which helps in coming to fair and pragmatic decisions.
3. In a nutshell, what does your typical working day look like?
My day is largely taken up with answering complex criteria queries, reviewing and approving external communications, providing input in meetings regarding proposed changes and writing internal communications and presentations. I also spend a lot of my time liaising with other parts of the Society, such as our Risk, Product, Operations and Marketing teams.
4. How do you strike a fair balance between the objectives from different areas of the society whilst ensuring we’re offering our brokers the best possible service?
This is always the challenge! There are inevitably going to be different objectives between interested parties, and I see it as very much my role to try to pull these together and find common ground. My background gives me a good understanding of different opinions, and I try to use this to make sure we make the right decisions for both brokers and the Society.
5. What is the best part of your job?
The variety – I deal with so many different people and subjects that no two days are ever the same!
6. In your opinion, what makes a good lender to broker relationship?
We’ve got to be able to do what we say we will do. It’s really important that we’re honest with brokers, giving them as much information as we can about what we can and can’t do, and how long it will take us to do it. There’s lots of information on the website regarding our criteria and service levels which is continually updated to ensure we're keeping brokers in the picture.
7. Why should brokers choose TMW?
TMW offers a really wide choice of Buy to Let products, catering for everyone from the First Time Landlord right the way through to Limited Companies and Portfolio Landlords. And with no minimum income, no maximum number of properties and no maximum age (for experienced landlords) it really does have something for everyone.
8. What do you think the main challenges were in 2018 for brokers?
The mortgage market seems to have been in a constant state of evolution for years now, and I think this presents a huge challenge for brokers, as well as lenders. Constant change means that you really need to stay on top of what’s going on to make sure you don’t get left behind – and that goes for all of us!
9. What should brokers look out for in 2019?
The early signs of this year suggest that it will be just as challenging as recent ones, but that’s not all bad! Technology changes are gathering pace, and I’m certain some of that will start feeding through and impacting on many more of us throughout the year. TMW is determined to be at the forefront of these developments, so watch this space for exciting news throughout the year. I guess the other thing that brokers will need to watch out for is the ‘B’ word…BREXIT!