60 seconds with...Mark Lofthouse
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Chief Executive Officer, Mortgage Brain
Were you disappointed with the Office of fair trading’s decision to block your merger with Trigold?
Obviously we were disappointed it didn’t proceed. We thought it would have been better for the industry, brokers and lenders for the acquisition of TrigoldCrystal to have been approved rather than referred to the Competition Commission.
What are your growth plans now?
We are looking to expand both organically and through acquisitions. Our last financial year showed our revenues have increased and across all our product areas we are not only showing an increase in market share, but also growth in the number of times our systems are used. We hope to continue to boost our market share.
Do you have any plans to enter more niche areas on your system?
Yes, we have been busy redeveloping our system to deliver our new MortgageBrain. This will offer links to new areas or specialist providers so brokers can search for everything in one spot. Brokers are selling more than just mortgages. They want to sell associated products such as general insurance, protection and conveyancing and we are closely linking those.
If you were in charge of the Financial Services Authority for a day what would you do?
I would do my best to make sure it keeps all its promises and that it is doing a proper job of regulating the industry.
If you could have one superpower what would it be?
I’d like to have foresight and be able to see what is coming in the future.
Do you have any secret talents?
I have been known to do the odd magic trick with coins and cards but I haven’t chopped anyone in half yet.
Apart from your house, what is the most expensive item you have ever bought?
It’s a close run thing between my car and the new kitchen we have just had fitted.
What’s the best advice you have ever received?
Time spent in reconnaissance is seldom wasted. It means you should always find out about something before you act.
What book are you reading?
Nemesis by Jo Nesbo.
Interview by Samuel Dale
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