Together has announced the appointment of Scott Clay as the director of Premier to oversee the relaunch of Together Premier.
Together Premier is a specialist division to cater for the funding needs of select high-net-worth (HNW) clients.
The channel will specialise in large, complex and usually time-sensitive residential property mortgages as well as bridging loans.
Returning to Together following a short hiatus, Scott’s return will see him continue to nurture and build strong relationships with the Cheadle-based lender’s customers, providing a concierge service for clients with significant levels of private wealth.
Complex finance cases
Clay said: “It’s brilliant to be rejoining the team at Together right now and leading a channel that I have a huge amount of passion for.
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“We are seeing increased optimism from high-net-worth customers as individuals continue to look to invest and diversify their property portfolios.
“Together Premier customers are ambitious, entrepreneurial and, in many cases, self-employed founders of successful businesses. They often have complex company structures and multiple income sources, which require a personal approach when assessing net worth and lending appetite.”
He continued: “Surprisingly, these affluent individuals often find it challenging to secure finance, as high street banks tend to use automated systems to guide their lending parameters and are also not set up to deliver timely decisions.
“In some cases, these individuals require short-term bridging finance at short notice, and this is a product rarely provided by banks.
“By offering a service that adopts a common-sense approach with speed and agility, Together can offer award-winning products to a segment of the market that is largely under-served and often let down by high street lenders.”
Recent research in Together’s Residential Market Report found that 10% of applicants with a non-standard profile were rejected due to having multiple sources of inconsistent income, and 22% said it was due to being self-employed.
Clay added: “We regularly see business owners, entrepreneurs and sports professionals approaching us. Despite often being wealthy, their income comes not just from a salary but also from dividends, director’s loans, rental income or contract income.
“As a result, they too often find their property ambitions’ compromised by the restricted lending appetite of mainstream banks.”
Joining Scott in the relaunch of the Premier channel is Mason Heys as a business development manager (BDM).
Mason brings eight years of financial services experience with him, including having worked at Create Finance and Stonebridge.
Earlier this month, Together expanded its reach by joining seven additional mortgage clubs.
