Q&A with Trinity Financial's broker David Sanders

1. You’ve now been at Trinity Financial for six years. Has the time gone quickly, and do you still enjoy being a mortgage broker?

It has gone incredibly quickly. When I joined Trinity in 2020, I was still relatively early in my career and I’ve learnt a huge amount since then. I still really enjoy being a mortgage broker. It can be demanding, particularly when the market is busy, but I like solving problems and I still get a lot of satisfaction from helping someone get a mortgage agreed, particularly when the circumstances aren’t straightforward.

2. What is the best part of being a mortgage broker?

Probably the variety. You are dealing with different people, properties and circumstances every day, and there’s often an element of problem-solving involved. I also enjoy building long-term relationships with clients. You might initially help someone buy their first flat and then work with them again years later when they move home, remortgage or start investing in property.

3. You’ve earned a reputation at Trinity as the “review king” because of the number of five-star reviews you receive from clients. Why do you think so many of your clients take the time to leave such positive feedback?

I think communication is a big part of it. Getting a mortgage can be stressful and clients generally want to know what is going on, what happens next and that somebody is taking ownership of things.

I try to be accessible, explain things in plain English and give clients realistic expectations from the beginning. I’m also fortunate to have a very good team supporting me behind the scenes, which makes a big difference to the service we're able to provide.

4. Are any two mortgage applications ever really the same?

Not really. You certainly see similar scenarios, but once you start looking properly at income, credit commitments, deposit, property type, future plans and lender criteria, there are usually differences.

Even two clients earning exactly the same amount and buying properties at the same price could end up with completely different recommendations. That’s one of the reasons mortgage advice is more nuanced than simply finding the lowest rate.

5. What is the most interesting or complicated mortgage case you have worked on during your time at Trinity?

There have been quite a few, so it’s difficult to pick one. Some of the most interesting cases involve unusual properties or clients with complex income structures, where there isn't an obvious lender from the outset.

I enjoy cases where you have to properly understand the circumstances, speak to lenders and work out a structure rather than simply putting the numbers into a sourcing system. Getting one of those cases agreed when the client may previously have struggled elsewhere is particularly satisfying.

6. How has the mortgage market changed since you joined Trinity in 2020?

Massively. I joined during an unusual period with Covid and extremely low interest rates. We then went through the rapid increases in inflation and interest rates, which completely changed the conversation around mortgages.

When rates were exceptionally low, clients were understandably very focused on getting the cheapest possible deal. Cost is obviously still hugely important, but affordability, flexibility and planning ahead have become much bigger parts of the conversation.

Technology has also improved considerably. There is much more information available to clients and the application process with many lenders is quicker and more digital than it was six years ago.

7. What are the biggest differences between dealing with the major high-street banks and smaller building societies or specialist lenders?

High-street lenders tend to have very defined criteria and automated processes. If you fit within those parameters, they can be incredibly efficient and competitively priced.

Smaller building societies and specialist lenders can often take a more individual view. You may be able to speak directly to an underwriter and explain why a case makes sense rather than relying entirely on an automated decision.

That flexibility can be invaluable for clients with unusual income, complex circumstances or non-standard properties. The skill is knowing when a mainstream lender will work and when there is a good reason to look beyond the high street.

8. How often do clients come to you after their own bank has declined them or told them they cannot borrow enough?

Quite regularly. One bank declining an application doesn't necessarily mean somebody can't get a mortgage.

Every lender assesses affordability and risk differently. One lender might not accept a particular type of income at all, while another could use 100% of it. The same applies to self-employed income, bonuses, commission and lots of other circumstances.

Part of our job is understanding those differences and matching the client to a lender whose criteria suit their circumstances.

9. What is the biggest misconception people have about getting a mortgage?

Probably that the lender offering the lowest advertised interest rate is automatically the best lender for them.

The rate is important, but first you need a lender that will lend the amount required, accepts the client's circumstances and is comfortable with the property. You then need to consider fees, incentives, early repayment charges and flexibility alongside the interest rate.

The cheapest-looking mortgage isn't always the cheapest mortgage overall, and sometimes it isn't a mortgage the client would actually qualify for in the first place.

10. With borrowers increasingly using comparison sites, Google and AI to research mortgages, where does an experienced mortgage broker add the most value? Is there a reason why nearly nine in ten new mortgages go through brokers?

There has never been more information available to consumers, which I think is generally a good thing. Comparison sites, Google and AI can all be useful for researching the market and understanding the basics.

Where an experienced broker adds value is applying that information to an individual client's circumstances. A mortgage can look perfect online, but that doesn't tell you whether the lender will accept a particular source of income, property, credit history or future plans.

There is also a significant difference between finding a mortgage and getting it through underwriting to completion. An experienced broker knows how lenders interpret their criteria in practice, how to present more complicated applications and when something that looks fine on paper may cause a problem further down the line.

Technology makes information easier to access, but mortgages remain a large financial commitment with a lot of variables. I think that's why so many borrowers still value having somebody experienced to advise them and take responsibility for managing the process.

Call David Sanders on 020 3227 3114 to secure a mortgage, or email david@trinityfinancial.co.uk  

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage