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One to One: Trevor Pothecary, chief executive, The Mortgage Lender


A £1bn commitment, 900 square feet of office space, multiple pilot licences and the importance of the ink on the bottom line

Last week it emerged that The Mortgage Lender had secured £250m of funding from TwentyFour. What are your ambitions for this funding?

This is the first element of the £1bn commitment we signed with TwentyFour at the end of March and it will cover our first year’s completions.

What else can the market expect from TML this year?
We are looking to successfully launch our owner-occupied residential mortgage offering, after which other options will be considered in due course.

When will TML officially launch?
TML will be based in 9,000 square feet of office space in a prestigious building in the financial services district just outside the centre of Glasgow.

Currently, the builders are doing all the cabling and building works to enable us to move in towards the end of this month. Once we have moved in and tested our systems, we will be in a position to launch.

As a child, what was your dream job?
I wanted to be a fighter pilot.

Do you have any secret talents?
I am the proud owner of fixed-wing and twin-engine helicopter licences with over 700 hours flown. I also have a motor boat skipper’s licence with nearly 1,000 hours and over 16,000 nautical miles covered at the helm.

What is the best advice you have received?
My father, who was a lawyer, always said: “Never a lender or a borrower be.” Well, that didn’t work out. The best advice was that a deal is never done until the ink on the bottom line is dry.

Who is your all-time hero, and why?
My father. He came from a poor north-east London background and lost his father at a young age. He studied to become a lawyer in his own time and ended up being the senior partner of a City-to-East End law firm with a head office based in Woolwich. He also bought a whole street of houses in the East End just after the war.

If you were not in your current role, what would you like to be doing?
I would be on a boat sailing around the Mediterranean and continuing my retirement.

Company Profile

Year established: 2015
Headcount: 36
Address: Atrium Court, 50 Waterloo Street
Glasgow G2 6HQ
Tel: 0344 257 0416

The Mortgage Lender is a new specialist lender that will enter the UK residential mortgage market in 2016.

TML will operate through brokers. It has four directors: Pothecary; sub-prime and specialist lender Mortgages PLC’s former operations director, Hugh Meechan; P&S Thomson Consultancy director Peter Thomson; and The Business Lender director Alex Cameron.

Pothecary is the main shareholder in TML, followed by Maureen Pothecary. The two own 600,000 of the firm’s 975,000 shares between them.

Other shareholders include Meechan, Thomson and Cameron, as well as Trevor Pothecary’s former Mortgages PLC colleagues, Scott Callaghan, Stephen Crawford, Claire Duncan, Susan McCallum, David Newman and Ailsa Smith.

Trevor Pothecary was formerly chief executive of Mortgages PLC. It was sold to Japanese-financed Majestic Acquisitions in January 2002 in a deal thought to be worth close to £40m.

Majestic then sold its stake in Mortgages PLC to investment bank Merrill Lynch in November 2004. Mortgages PLC closed to business in 2008.

Pothecary and former Mortgages PLC colleague Peter Beaumont made an ill-fated foray into the sale-and-rentback market in 2009 with Residential Property Solutions. However, the company retreated from the sector as the regulator sought to close down the market for such products, fearing consumer detriment.


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