Joe Noon

What do you enjoy about the specialist finance market?

“Without question, it’s being able to properly sink your teeth into a deal, and being there from inception all the way through to funds going out. In my previous roles there might be one in every 20 cases where you really had to get involved and assist along the way.”

In the specialist market, we’re much more hands on. Every one of our deals is underwritten from day one of an enquiry, and we’ll handle much of the heavy lifting on behalf of our brokers.

“It’s where I really get my satisfaction out of it,” Joe continued.

“Seeing the case through – remembering that initial call and then however many days or weeks later, having a satisfied broker or client at the end of it – that’s the biggest thing.

“Being able to take hold of the case and really have some ownership over it.”

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

Joe was hesitant about his initial response, worrying it may have sounded a tad basic. However, while it may sound obvious, it’s a quality which can be surprisingly hard to come across in property investment.

“One of the first things I offer is honesty. Immediately when the call comes through, if I can see it’s not something we can work with, I will be as open and honest with the broker as possible.

“I will say this is what we can do, and these are the things I can do to help clients achieve their goals but I think if you lay everything down first and foremost, brokers can work with their clients to break down where there may be limitations, and no one’s time will be wasted.”

More generally, Joe is an expert at making those he works with feel at ease. An underappreciated skill which ensures his brokers are always comfortable in picking up the phone, and calling him to hash through their cases.

“Just getting the broker to pick up the phone is so important,” he added.

“You can have that five-minute chat, set initial realistic expectations, and then you can go from there.

“Our brokers time is as precious as anyone’s, and they need an upfront idea of where they stand.”

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

For Joe, the importance of meeting face-to-face can’t be overstated.

“I think it’d be great if more brokers took the time to meet with providers such as ourselves face-to-face.”

Historically, Joe pointed out that many brokers would work with a dozen or so lenders, and rarely explore alternatives outside of that bubble. But it’s worth taking another look in order to find the best solutions for the underlying borrowers.

“I would say, more than anything, it’s impossible to know everything that all lenders do from a cursory look over a sourcing system,” he said.

“However, if you’ve got that relationship with a BDM, with someone in a head office, with an underwriter, you can get an idea of why you might lean on that lender for support, and that’s a massive weapon in any brokers armoury.”

Where do you think there could be opportunity for property investors in the current market?

As property investors seek out high, stable yields, Joe believes there’s one type of asset specifically which could offer just what’s required.

“Supported living, which we can do at Market Financial Solutions so long as the circumstances work, can offer a lot of stability for landlords.

“You’ve got the consistency for the tenant, regularity in rents for the landlord, and the fact that we’ve seen government contracts in this field from the last few years shows the longevity is there.”

Joe has noted a rising clamour to invest in these kinds of assets due to their yielding potential. Although, he also works quite closely with borrowers who are keen to “normalise” their portfolios after the last few years of relative chaos.

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

As much as Joe and indeed, countless others are keen to fully put it behind us, the pandemic years are still affecting many of us in some form or another. Joe regularly receives queries from those who found themselves in sticky situations as a result of Covid-19.

“I’m still seeing CCJs, defaults, liquidations. A lot of these borrowers, they’ve had to go back to basics and strip everything, but in the buy-to-let space specifically, that can hinder their options.”

Joe has had many conversations with brokers who feared having to wait for months to clear a less-than-perfect credit profile.

But, many of these brokers are coming to happily realise that we are able to give these cases a fair hearing.

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

“I wish I was good at golf, I lose about five days’ worth of ‘networking’ a year by not going on golf days,” Joe said, doing away with any stereotypes.

“I’ve got a couple of young sons and honestly between me and my other half, we’re like passing ships in the night. She takes one off to football, while I take the other to cricket or other clubs.”

No rest for the wicked. But it’s all worth it for Joe as he “watches his lads play football” at the weekend.

Where Joe does find spare time, he “enjoys” watching Nottingham Forest.

“Although, aside from last year, I almost always want to be back in the office on a Monday rather than sit through a Forest game on most Saturdays!”

This explains why Joe always pics up after one ring first thing on a Monday morning. He’s free all week, but he may be extra grateful to have brokers take his mind of things then!