Matt Yates

What do you enjoy about the specialist finance market?

For Matt, the variety the specialist finance market can provide is what appeals.

“In my first field-based job, it was very vanilla straightforward lending. I lasted two years, which gives you an indication of where my head was at,” he said. Matt went on to amend that.

“Every lender I’ve gone to I’ve gone up the scale to specialist. What I like about working in the specialist market, and it’s a bit of a cliché, is that you’re an absolute problem solver.

“You’re going into meetings with brokers and finding solutions that work just for them. It’s cheesy, but it’s true.

“I’ve said this to brokers I’ve worked with for years: I think the worst job I’d find myself in is be a BDM for one of the high street banks. Every broker knows them inside and out, and there’s no unique problem solving there. Whereas when I work with a broker in the specialist market, the cases are challenging but interesting, and the solutions we come up with are incredible.”

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

All our BDMs have years of experience behind them that allows for the best results for our brokers. But, Matt broke down exactly how his credentials work in practice.

“I’ve worked with brokers for so long that I can walk into a room, read it, and go ‘OK, probably need to be a bit more corporate here Matt’, or I can tell myself ‘You know what? Let your personality do the work here.’

“I try to always keep it simple. I don’t go in and blast my brokers with a massive factsheet of everything that Market Financial Solutions is about. I go in and cover points on their case individually, present options, and kind of leave it there for the broker to ponder.”

In other words, Matt never “overeggs the pudding”. He’s able to spot when a broker’s eyeballs are glazing over, or it’s apparent that what’s being discussed just isn’t hitting the mark. When this happens, it’s worth going back to the basics.

“That’s where you as a BDM stop talking,” he added.

“You ask them questions, and get the broker to tell you what they’re really after. I’m pretty good at reading how people are responding and the worst thing for me is where a broker simply isn’t engaged. I’m good at avoiding that, for both our sakes.”

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

Matt has clearly built his career on his openness and personable approach. It’s something he’d like to see embraced in the wider industry.

“I think networks need to be more open to experienced brokers to write commercial and bridging finance deals,” he said.

Sadly, in the current market, Matt believes there is hesitation from networks in allowing their brokers to explore specialist lending options. This not only holds back brokers, but ultimately prevents property investors from progressing too.

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

“So, what I talk about in my meetings is the evolution of the landlord that currently invests in big properties like HMOs and multi units. With the implementation of the Renters’ Rights Bill, these landlords are going to be squeezed.”

Given this, Matt feels there could be opportunity in exploring new property types and set ups.

“I think there’s massive opportunity for landlords to invest in, and work with local authorities and charities,” he continued.

“Those local authorities and charities can use their properties in partnership with landlords. Obviously, the properties here are often used to house vulnerable families and this corner of the market is crying out for more support form private investors.

“By engaging here, landlords could generate decent yields with far less hassle and grief. What’s important to remember here is that Market Financial Solutions can work with these kinds of set ups, and there’s only a small handful of lenders that can do this in the marketplace.”

Interestingly, when Matt does broach this topic with his brokers, he’s always surprised at just how many have these kinds of deals on their books. It could be an element of the market with untapped potential.

How are you finding your local market, and what do you do to get your mind off the property world in your downtime?

Matt detailed that his areas present certain unique challenges, but it’s overcoming those challenges that he really enjoys.

“And of course, simply working with all the different brokers makes the job very interesting,” he added.

Although, travelling between North London and North East Anglia may take its toll at times. So, what does Matt do to decompress?

“I don’t do golf” he was at pains to stress.

“I’ve got two teenage boys and I try to do as much as I can with them to get them away from their PCs!

“I live next to a massive woodland, and we’re near the coast so we do an awful lot of walking. It’s so lovely getting out in the fresh air and I try to do it as much as possible – it’s important.”

In between these walks though, Matt is ready and willing to support you and your clients. If you need a personable approach for your deals, please reach out today.