60 seconds with...David Hollingworth
Share
DAVID HOLLINGWORTH
HEAD OF COMMUNICATIONS
LONDON & COUNTRY
What do you make of Lloyds Banking Group’s changes to interest-only?
A lot of lenders have moved away from interest-only in the same way by restricting their criteria. The standard LTV is around 75% now, which is what Lloyds group has moved to, so it’s not a huge surprise.
Will there be more price competition in buy-to-let with the rush of new lenders in the sector?
It’s good to see some big players entering the market such as Skipton Building Society and Abbey for Intermediaries. If some of them start to throw their weight around there could be better rates, particularly Abbey as it is a big lender.
Are we seeing lenders using more exclusive deals with brokers and networks?
We are seeing more deals of this kind but it will always be one aspect of a proposition. There is still a price differentiation between direct and broker deals so lenders have many distribution channels. Lenders recognise that brokers can provide quality and control that offers the opportunity to create targeted exclusives.
What do you make of the Mortgage Brain and Trigold deal being blocked?
They are huge companies in the sourcing sector and there was a lot of rumbling about the lack of competition from brokers and that rumbling was clearly too much for the Office of Fair Trading. So the firms have decided to pull out of the deal.
What has been the proudest moment of your career?
The way London & Country puts customers before commerciality has always been a source of pride.
What three items would you take to a desert island and why?
My family, an iPod and clips of Manchester United’s greatest moments because I know there would be a lot of them.
Do you have any secret talents?
I can make a mean curry. I like to cook with a broad range of spices.
Who would you most like to play you in the movie of your life and why?
One of the greats, Al Pacino - dark but not too tall and not especially handsome.
What book are you reading?
Blood Meridian by Cormac McCarthy. It’s bloody and brutal just like the mortgage industry.
Interview by samuel dale
If you enjoyed this article, sign up here to receive daily email updates from Mortgage Strategy and Follow @mortgagestrat
