Working largely with commercial clients, Dominic Doggett reflects on changes and opportunity in the property sector.
Who are you and what do you do?
“I am Dominic Doggett, a senior adviser at NM Finance, and I cover a broad spectrum of finance. My role is customer-facing, so I work with my existing clients as well as new clients which are often referred to NM Finance by my existing clients. In a nutshell, my role is to find the most cost-effective way to achieve the best result which meet my customers’ needs. That might be to purchase a property, refinance or raise capital for a wide variety of reasons.
“I also work with a growing number of commercial clients across the spectrum of property development. These clients are often looking for development finance to fund the build cost of properties to sell on land that they already own, or additionally they may need finance to purchase a site. I also specialise in working with clients who want to purchase and refurbish properties with a view to selling them on after works are completed.
“Finally, I also work with purely commercial clients looking to raise finance on their business premises, or to purchase a premises for their business. In essence, I can help anyone looking to raise any type of finance secured against land or property.”
How long have you worked in property finance and what do you enjoy working on most?
“I have worked in land and property finance for four years now, having received a first class degree in Economics prior to that.
“My expertise is spotting a solution where other brokers wouldn’t. I had a case recently referred by an accountant where the client had already been to see a broker and they hadn’t been able to help them. I was able to look at the case from a different point of view, present the case in a different way and find a solution. I think this comes from the fact I deal with everyone in every circumstance, from high net worth clients to clients in severe credit difficulty, from residential remortgages to commercial bridging loans. Often brokers have a whole book of the same type of client and what makes my job interesting is the fact that that is certainly not the case for me.”
What changes are you seeing in the industry at the moment?
“The biggest change we are currently seeing is the rising age of borrowers – 37 per cent of adults are aged 55+ and 63 per cent (£2.5 trillion) of property wealth is owned by people aged 55+, and many of these are asset-rich and cash-poor. There is a growing number of consumers and commercial borrowers in this age-bracket who are looking for property finance, and there are a number of new ways to achieve funding at a later stage of life. It’s one of the reasons why NM Finance is focusing on new opportunities for borrowing pre- and post-retirement and I am soon to complete my Certificate in Regulated Equity Release (CeRER) which enables me to best advise our clients.”
What makes NM Finance different to other mortgage brokers?
“At NM Finance we have access to the whole of market, so if lending cannot be placed by us then 99 per cent of the time it can’t be placed by anyone. We are fortunate to have a fantastic admin team behind the advisers as well, so if on a very rare occasion we aren’t on hand there will always be a knowledgeable member of staff in the office that can help. We are client-focused and we have no preference of lenders, so clients can have an open and honest conversation with us so that we can find a solution – we know that what doesn’t fit with one lender will often fit with another, so we genuinely go further to help our clients find the best deal for their circumstances.”