Seeing the work that goes on behind the scenes in the mortgage sector to improve diversity and inclusion (D&I) is one of the better parts of the job, it has been said.
Speaking on the latest Diversity and Inclusivity Finance Forum (DIFF) podcast, Greg Cunnington, co-head of strategic accounts at Legal and General (L&G) Mortgage Services, said the initiative could be “daunting” to people, but once you engage, see the topics and see the good work, “it’s one of the most enjoyable aspects of the industry and the job”.
This comment was in response to Sim Sahota, business development manager (BDM) at Barclays, who said when he was first nominated to take part in DIFF, he did not get it at first and found it difficult to comprehend what people were saying because he “wasn’t ready for it”.
“I wasn’t willing or wanting to open my mind. I just wasn’t ready for it,” Sahota said.
The opportunity to join DIFF came up again a couple of years later. Sahota said he was at a different point in his life where he felt this was the right thing to do and was more curious.
He had spoken to Sidney Wager and Lesley Cappellaro, who gave Sahota a “safe space to ask questions where you may otherwise feel you might offend somebody”.
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He added: “The curiosity got the better of me, I re-joined DIFF and have not looked back since.”
Cunnington said he understood why an initiative like DIFF might come at the wrong time for someone like Sahota, and said they had many conversations about it.
Cunnington said he was lucky to have worked closely with Dom Scott at Alexander Hall and see the work he was doing around D&I, adding: “But to be really candid, it’s still a topic that I’m on a learning journey with alongside Sim.”
Cunnington continued to say when he was asked to do this DIFF podcast, his “gut reaction was to say ‘no’ because it’s a DIFF podcast, it feels daunting. But then you said it’s with Sim, I think Sim really is a trailblazer in this space and anything to support him getting that out there is important.”
The business case for diversity
Speaking of how a diverse team can drive business forward and create innovation, Sahota discussed Barclays’ presence being in the non-permanent right to reside space. He said the bank already had good policy around this and over the last eight or nine years, Sahota had made strong relationships with brokers in the West Midlands who operated nationally and were of a South Asian background.
Many of their clients were also South Asian, and employed in professional roles like the medical sector.
“Very similar background, culture that I have with them. So, it meant that I had the understanding of who their clients were, how they operate. The amount of business they brought into us on our standard policy was phenomenal, really really good business. As a result, I was able to – with their feedback – influence on our policy forum and explain the need for an enhanced visa policy,” Sahota said.
This was reviewed and the team saw a lot of business from this borrower type was already coming in, so a policy change was subsequently introduced this April.
Sim said the result of this was “massive” and the lender did not anticipate the extra levels of business the change would bring.
Sim said he felt “privileged and honoured” that he had a part to play in getting these borrowers onto the property ladder.
Cunnington said seeing a lender like Barclay make such a policy change had a huge impact, as many of L&G’s partners had been asking for such improvements for several years.
He said the big six lenders usually had a black-and-white approach to visas, but the sophistication of Barclays’ proposition showed its development was based on more than just feedback from brokers.
“A big lender like Barclays, taking a move like that can be seen internally as going up the risk curve and hard to get over the line… really well done to [Sahota],” Cunnington said.
Cunnington then advocated for an inclusive workplace and named a colleague called Sophie, who he said ran many sessions on this and was currently holding them on neurodiversity.
He added: “When you encourage and support, and lean in and embrace these areas, they really can be a superpower. You get some talent coming through [from people] who are just absolutely incredible.”
Listen to the full episode [28:34] hosted by Bharat Sagar, ambassador at large at AE3 Media, featuring guests Greg Cunnington, co-head of strategic accounts at Legal and General (L&G) Mortgage Services, and Sim Sahota, BDM at Barclays.
