Richard Saunders

What do you enjoy about the specialist finance market?

Again, Richard’s forthrightness shines here.

“I’m bored easily,” he confessed.

“So I like interesting cases and complex cases. Finding solutions to problems, it’s the problem solving that I love most.

“A two income, three bed semi is fine, but it doesn’t get my mind working. I like doing the interesting stuff – the adverse credit, the last-minute auction deal, the commercial conversions – they’re what I live for.”

We’d like to point out at this point, that Market Financial Solutions is still willing and able to lend on three bed semi-detached properties!

While we’re there for brokers with unique, challenging cases, we also have a range of options for the more straightforward property investments which, for whatever reason, haven’t been able to find a home on the high street. A reminder – a Birmingham bridging loan can take on many forms.

What is it that you offer to brokers that work with you?

Thankfully, Richard’s robust background allows him to think outside the box with his clients.

“I would say it’s my ability to look at a deal in a different light to what’s already been presented or thought of,” he said.

“To offer different solutions that the clients may not have thought of by themselves. I suppose I’m goal oriented, rather than just an order taker.

“If a broker comes to me and says I want to do x, y, and z with a deal – but I think there may be a better way to structure it – I’ll voice that. Often, what I put forward may not have been on their radar at all but if it works for them, we usually come together on the next steps.”

Evidently, Richard is very forward thinking. But when looking towards the future of the property market itself, what does he think is in store, or what should be focused on?

What would you like to see introduced or prioritised in the specialist finance market?

There was no hesitation in his response.

“I would like to see the government firm up their plans for EPC ratings on BTL properties, investment properties. They’ve been talking about it for years but it hasn’t been formalised yet.”

Indeed, Labour recently proposed reintroducing a minimum EPC deadline after they were scrapped by the Conservatives before the election. But, with new assessment procedures on the horizon (SAP 11) there is still much uncertainty about how all this will work.

The reintroduction of EPC minimums is a relatively recent occurrence, and so we asked Richard if he’s seen the topic come up more frequently recently.

“I think it’s just been one of those things that’s been in the background for a long time for anyone who’s involved in the industry, whether you’re a borrower or a broker,” he added,

“And it’s something we’ve all kind of been aware of, and lenders have barely scratched the surface on what they can do to help solve the problem.

“But, there is a problem. We’ve kicked the can down the road and the government hasn’t set their stall out as far as where they want all this to go. Lenders also haven’t come up with an all-encompassing solution for customers yet.”

Where do you think there’s opportunity for property investors, and where would you like to see more funding directed to?

Richard was so coherent throughout his interview, that we were convinced he must have set time aside to do his homework beforehand. But he insisted there are a few subjects he knows a lot about and he can talk about them “until the cows come home”.

Again, his lack of hesitation in answering this question backed this up.

“Commercial. Market Financial Solutions has positioned itself well here with its new commercial BTL and Bridge Fusion launches, and landlords are diversifying into commercial property now.”

Of course, we’d reiterate that the success of any investment will be dependent on one’s situation. Commercial property at large may present plenty of opportunities, but those opportunities will be based on a borrower’s individual circumstances. We will never advise anyone on how to invest in the property market.

Still, as the specialist market continues to grow, there is exciting potential in this field.

“There is a space for specialist lenders in the commercial market,” he said.

“It’s been heavily dominated by the mainstream banks over the last 20 or 30 years. There is opportunity for specialist lenders to really make a splash in this market and offer something different to what’s offered by the mainstream providers.”

Are there any typical borrowers or cases that you tend to work with?

“My background is heavily geared towards portfolio BTL, so that’s the area I know most about. Although, some cases that I’m seeing more often at the moment – and I’ve had to learn about as it’s been relatively new to me – is supported living.”

Richard noted that there aren’t that many lenders out there who will work with these property types and/or situations. They can be complicated, and involve local authorities, vulnerable tenants, charities, and other third parties which add complexity.

But Market Financial Solutions can work with supported living property investments. Richard provided a bit of context as to why he’s seeing more of these cases in the Midlands.

“There are obviously the economic and social factors behind this. Firstly, the NHS has pushed in recent years to drive secondary care out of hospitals, and into local community settings, so there’s more demand in that respect.

“Secondly, especially in the West Midlands, we’ve seen local councils go bankrupt. Local authorities don’t have the funds to go and buy these properties, but there is still a need for them. Therefore, there’s space for a third party – i.e. landlords – to fill that void.”

We’ll have to keep an eye on this potentially burgeoning corner of the property market. As always, where property investors spot new opportunities, we will do what we can to support their goals.

What do you do to get your mind off the world of property finance?

A wholesome response.

“I’ve got a charity project; I’ve got a community garden that I work on with some people in my local village.

“I like gardening, but also cycling as well.”

Richard also finds a way to participate in shared hobbies that everyone – including his localised client base – can enjoy.

“We did a frisbee golf day a couple of months ago, instead of a normal golf day,” he said.

“Going for frisbee golf means everyone can turn up and have a go.”

That’s a unique image. You can gain insight from one of our most knowledgeable members of the sales team, while flinging a disc into the air at full power. If that sounds good to you, why not drop Richard a line?