Tony Kear from UK’s Assetz Capital Comments on How Platform May Achieve £1B of Lending Per Annum

Tony Kear from UK’s Assetz Capital notes that he joined in November 2020 and was “just getting his feet under the desk when COVID hit.”

Tony Kear shares that he started his Corporate Banking career in 1990 based in NatWest Bridgend with “an emphasis on farming ([he] worked on a 100 strong dairy herd milk farm in my teens), prior to joining the dedicated Cardiff Corporate Banking Centre in 1992.”

He also noted that (at that time) turnover exceeded £1 million. His first Managerial role was “leading the Cold Calling team to generate new business leads.”

Tony added that “every day is very different.” He also pointed out that you “never quite know what is in store.” It is “a mix of assessing new leads, pressing home completions and often answering numerous queries.”

He also mentioned that his role includes “liaising with solicitors and [their] Assetz Credit Team as well as keeping up to date with site visits building the client relationship to ensure [he is] first port for call for their next development.”

Responding to a question about exiting the pandemic, and whether there were any particular challenges he faced whilst it was ongoing, he noted:

“The hardest part was telling clients their loan application was paused in March 2020 but the satisfaction was being able to conclude many of those same deals via the CBILS scheme. Returning after 5 months of furlough was undoubtedly tough – there was no ‘bedding back in’. It was 100 mph from day one as we all frantically were assessing the enormous amounts of leads we received and taking forward administrative protocols that were evolving on the back of our new funder Aros Kapital.”

While commenting on whether he has seen “a difference in the way” he works with brokers and borrowers since, Tony revealed:

“My aim has been to build a ‘go to’ relationship with a limited number of key brokers during this COVID era who have delivered high quality leads and strong supporting paperwork and equally I have pushed myself to quickly turn aside “kite flying leads” that bog us down.”

While commenting on the increase in self-funded builders and people taking on renovation projects, Tony said that:

“I think it depends where in the UK and what sector. I’m seeing more opportunities for high spec bungalows in Wales for downsizers and I have no doubt that the care sector will be an enormous opportunity with the new funding package proposed around the corner.”

He added that Assetz has “a reputation of looking at deals that are often not straight forward and have wrinkles but the experience of the Relationship Directors and Credit are shaping these opportunities.”

He also revealed that with the ability to look at £5m+ now, “larger opportunities are landing in our inbox.”

He added that if Assetz can land more and more of these, “backed by more simplified drawdown paperwork etc via the Change Team, then Assetz’s goal of £1Bn of lending per annum will be a lot easier than it sounds.”

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