Each month, Mortgage Solutions and Specialist Lending Solutions sit down with a key intermediary industry figure to discuss strategy, the opportunity for brokers and the mortgage marketplace.
This month, we are sitting down with Caroline Mirakian, sales and marketing director for mortgages at United Trust Bank (UTB).
How did you get into the mortgage industry?
Having become a law graduate and worked in a solicitor’s office for a short period after university, I quickly realised that my passion was not on the legal side of a business. I had a real desire to talk to customers, and as anyone who knows me will agree – I love to talk.
I found my passion lay more on the financial and customer service side of commerce. I had fond childhood memories of setting up a make-believe banking counter at home and pretending to serve customers by handing out chocolate coins.
I’m sure this spurred me to consider a job at Barclays that I saw advertised in a local newspaper. Finding jobs in newspapers! Now I do feel old.
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Having exceeded my sales targets and been recognised for my hard work, I was asked to step in for a mortgage adviser who was leaving the branch. I remember at the time agreeing to it and thinking: “How hard could it be?”
This was certainly a pivotal moment in my career, as I found myself quickly in the realms of studying for my CeMAP and going through what felt like one of the hardest challenges I’d faced – studying for exams on what was an alien topic to me just a short time ago: mortgages.
So, while I may have fallen into this industry, it was the best fall I’ve ever made from both a personal and career perspective. It’s an industry I am hugely passionate about, based on the thousands of customers we collectively help every day through one of the largest transactions they’ll ever make.
What has been your biggest learning in your career?
Your team is your most invaluable part of any business. Listen to them. Given the opportunity, they will be aware of and share a variety of information you may never have known otherwise. And be collaborative. It is amazing what a dynamic force you can be as a team working together. As our new strapline says, ‘United, we go further’, and that’s so true.
I’ve also realised that failures are opportunities to learn and working hard will always be noticed.
You’ve been at UTB for nearly two years. How have you made sure to make your mark on the company?
I’m not sure if I have made a mark yet. More like UTB has had a significant impact and made a mark on me.
The culture, the values we embrace and the leadership here are second to none and I am hugely proud of the business that I work for – I definitely feel UTB running through my veins.
For me, my first year has been a combination of proactive engagement, continuous learning and finding ways to provide solutions for any hurdles my team may be facing as well as looking at our structure and how well we have been set up to support the broker market at the front end.
This we’ve achieved by listening to my team, speaking to stakeholders for feedback, reaching out and having conversations with our broker partners and setting clear goals on how we can evolve our business so that we can grow and become the best specialist lender in the UK.
More generally, what reputation do you try to have as a professional in the sector?
I try to cultivate a reputation that reflects reliability, expertise and integrity, striving to be known for my knowledge, accessibility and for fostering trust and encouraging collaboration.
There have been quite a few new hires at UTB this year. Will the lender continue its recruitment, and how does the wider team support its strategy?
We have expanded the team to better support brokers in line with our growth plans for 2025 and beyond, and this will continue as we evolve.
UTB has a long history of developing our staff. Through our clear succession planning in the last year, we have promoted 19 colleagues within the mortgage department, with others having moved roles to develop their careers.
I am very excited about our continued growth. In growing organisations, there are lots of opportunities to work in various disciplines and build exciting and rewarding careers, and we love seeing our people develop and reach their potential.
UTB came out with product transfers for first and second charges this year. How has the take-up been, particularly for second charge?
The launch of our product transfers has certainly been successful – with around 28% of our business via this route.
Brokers have warmly welcomed our product switch capabilities in both first and second charges, as we are proactive in informing our broker partners months before their customers reach the end of their fixed rates so that they can reach out to them and assist them.
What impact has widening UTB’s criteria to build had on its offering to borrowers?
Widening our criteria has certainly increased borrower choice and accessibility – creating more pathways to help more under-served customers achieve their homeownership and investment aspirations.
However, in such a competitive market, we are also very aware we cannot sit still if we are to keep pace with the market as well as changing consumer profiles. It is important to keep evolving to stay relevant.
The company has just expanded into Scotland; how has this been going?
Although the bank has just launched its asset finance proposition in Scotland, we have been offering mortgages and second charge loans in Scotland for several years. We understand the market well and continue to support it as we expand our team. We see the North of England and Scotland as key areas where we can support under-served customers.
What plans does UTB have for 2025?
I am very excited about 2025. We have a raft of enhancements being developed to not only widen our proposition but to continue to help us build upon our profile and messaging that UTB Mortgages for Intermediaries is moving up the league table in our mission to become the leading specialist mortgage lender across residential, buy to let (BTL) and second charge.
What would you want brokers to know about UTB?
Check us out. If you have never heard of us or worked with us, don’t overlook us. Reach out. We have many people on hand to talk to you and help you with even the trickiest of cases. Every day, we have new brokers becoming part of the UTB family, and once they have registered and used us for a case, they often wonder why they didn’t use us before. Our processes are smooth, we take a common-sense approach, the team is friendly and our criteria cater for customers and properties many lenders don’t.
