60 Seconds with… Steven Marks, corporate development executive, Newcastle Building Society Intermediary Services

Marks

You have just entered the buy-to-let market. Why now?

Buy-to-let is increasingly seen as a mainstream section of the market, accounting for a significant part of it, as proved by recent CML stats. More and more people seem to view it as just another form of investment. Over the past year, NBSIS has improved its proposition for intermediaries, so this was a logical, attractive next step.

How does your offering differ from other lenders’ and what can we expect over the coming 12 months?

As with all our products and services, we aim to provide good value and easy ways of doing business. We believe we have achieved that with our buy-to-let products. They have pricing and policy features, including the fact we credit-search and consider cases on their merits, and we pay the packaging fee on behalf of the applicant. It is difficult to say how the products will evolve over the next year but we are conscious of pockets of activity, for example in London, with their own characteristics. Slightly different features may prove attractive there. 

How will buy-to-let fare over the next year and will the entire sector be regulated eventually?

Certain market dynamics support the continued growth of buy-to-let. There is still a shortage of housing, affordability is an issue for many and there is a view that younger people are happy to rent, as they do with phone and car contracts. ‘Ownership’ is perhaps not as all important as before. There is also the increasing belief that buy-to-let is a good form of mainstream investment. It is hard to say how far regulation will go but, as more and more ordinary people invest in, and borrow for, buy-to-let, the more it will be on the regulator’s radar. 

What is the best piece of advice you have received?

From former England rugby coach Clive Woodward’s book (I think): ‘If things are going well, look out of the window at all those who helped you get there. If things are not going well, look in the mirror and ask yourself what more you could do.’

What did you want to be when you were growing up?

A professional golfer.

If you were stuck on a desert island, what three things would you need?

My swimming goggles, my music and suntan lotion to protect my pale Scottish skin.

Do you have any hidden talents?

None at all. But I am about to do my first Ironman triathlon so maybe I have sheer bloody-minded determination. 

Recommended

Business-Handshake-Finance-Deal-700.jpg

Kensington to launch new lending brand

The Kensington Group is to launch a new lending brand to market and myhomemove corporate sales director Adrian Whittaker has been brought on board, Mortgage Strategy understands. There are no details about the new lender at this time. Former Barclays intermediary chief David Finlay, who now works for the group, declined to comment. Myhomemove announced […]

Andrew Tyrie Tory conf 2013.jpg

Tyrie demands MPC code of conduct overhaul

Treasury select committee chairman Andrew Tyrie has written to the Bank of England to demand a review of its code of conduct for monetary policy committee members. In a letter to Bank governor Mark Carney today, Tyrie says the appointment of Gertjan Vlieghe to the committee suggested the need for an overhaul. Vlieghe was appointed […]

Raven-Brian-Tavistock-2014.jpg

Tavistock confirms Financial Ltd network closure

Tavistock Investments is to close recently acquired network Financial Ltd and launch a new network in its place. In July this year, Mortgage Strategy’s sister title Money Marketing revealed Tavistock was considering closing Financial. The stricken network was banned from recruiting appointed representatives in July 2014. Tavistock announced the acquisition of Standard Financial Group, the […]

Partied out and penniless

December has left me destitute. My piggy bank lies broken and empty, my lunchtime meal deal feels like an extravagant expense and I’m down to the Bountys in my box of Celebrations. But I won’t mourn my dearly departed pennies. Between buying gifts for loved ones (then deciding to keep them for myself) to treating […]

Newsletter

News and expert analysis straight to your inbox

Sign up