The Five Minute Interview with Eddie Boakye, Senior Underwriter, Funding 365
Funding 365 is a fast-growing bridging lender with integrity who’s shaking up the industry – combining the lowest rates offered by the bigger lenders with the bespoke service and quick processing capabilities of a smaller firm.
We speak to senior underwriter, Eddie Boakye:
What is the best thing about being in the bridging finance business?
That no two days are the same. Every case has its own merits and risk. Also, working out a way to provide a funding option to a borrower so that they can purchase, re-finance or develop to maximise potential gives me huge satisfaction. I absolutely love delivering financial solutions – it’s in my blood.
What keeps you focussed?
I keep myself motivated – for me that’s the best way to focus and avoid distractions. How do I stay motivated? I plan, set goals for both work and my family, visit regularly, re-adjust if I need to. It’s not straightforward to start with, but it certainly gets easier along the way.
What qualities do you look for in your employees or colleagues?
Core values. I think that it’s highly important to have integrity, honesty, a ‘can do’ attitude and generally speaking, a good all-round working relationship. It’s just as well my colleagues tick these boxes!
Are you an optimist or a pessimist?
Optimist. I’ve always been a strong believer in the power of positivity. As Winston Churchill once said, “an optimist sees the opportunity in every difficulty”.
What did you want to be as a child?
Believe it or not, from the tender age of 5 it was my ultimate desire to become a policeman. Although it wasn’t until I was on holiday in Butlins (Skegness) many years later, in front of a video camera at point-blank range, that my dream finally came out in the open. I’ve no idea why I kept it a secret for all that time!
What will be the greatest challenge facing the bridging/development finance industry in the coming months?
Brexit. Since the announcement, we’ve seen signs of uncertainty and instability in the market. We’re seeing a number of new bridging / development lenders and lower interest rates enter the arena. Over time, we will start to see some of the unsustainable lenders fall by the wayside, thus opening the door for an increase in new business opportunities. It really is becoming highly competitive in the industry. Many lenders are doing great things. I’m pleased to say that we’ve got it right at Funding 365; I’m proud to be a part of what’s happening here.
Who or what makes you laugh?
Everyone I choose to surround myself with, especially my wife. I remember a story she told me. It was a Blue Peter April fools joke where the presenter announced that pasta grows on trees. Her parents kept up the joke and convinced her that it was true. I could imagine her disappointment when she discovered the truth (I’ll let her off though, she was young).
Do you dread Monday mornings?
Never. It’s a fresh beginning. The start of a new week of opportunities, growth and expansion. What’s not to like?
If you could change one thing about yourself, what would it be?
Now that would be telling…. keep guessing!
With whom would you most like to have dinner?
Steven Gerrrrrrrrrard. I’m an avid supporter of the game. The guy is inspirational, a leader, a go-getter and good at what he does. I like these attributes in a person. Top bloke!