The Five Minute Interview with Jim Nash, Business Development, Fortwell Capital
Fortwell Capital (formerly Omni Capital Partners) is a new-generational lender providing short and medium-term funding solutions to the non-regulated property market.
Established in 2010 Fortwell Capital are a wholly-owned business of CPC Group, the real estate development and investment business founded by Christian Candy.
We speak to Jim Nash, Business Development, Fortwell Capital:
What is the best thing about being in the bridging/development finance business?
Bridging allows for creative and pragmatic thinking. I worked for many years in high-street lending and felt constrained by its inflexible and rigidly-set parameters.
As regards development finance, were the sector to rely solely on the support of mainstream lenders to build the homes that are needed we’d all be old, decrepit and grey before the targets were anywhere close to being achieved (sadly, I have a head start in this respect!)
What keeps you focussed?
The fact that I have a mortgage, golfing fees and holidays to pay for – not to mention four kids continually holding out their hands for cash! Working hard and earning a living is not an optional extra in my life.
What qualities do you look for in your employees or colleagues?
I appreciate loyalty and a wicked sense of humour. There’s little worse than a drab workplace to drag down productivity. Combine a smile with hard work, punctuality, common sense, a positive attitude and going the extra mile and all the personal ingredients are in place for success.
Are you an optimist or a pessimist?
I’m a realistic optimist with a touch of pessimism about him. I cannot help but be a little pessimistic about certain aspects of the world that our kids are growing up in today. But I’m hugely optimistic about bridging in general and the business I work for in particular. I also think we live in a great country and have much to be grateful for.
What did you want to be as a child?
A carpenter. My mum still has two tables I constructed whilst at secondary school.
What will be the greatest challenge facing the bridging/development finance industry in the coming months?
Where to begin? There’s the MCD and other regulatory pressures to start with. Changes to stamp duty are also having a negative effect, particularly in prime central London. The prospect of a Brexit is clearly exposing nervousness in the market and discouraging activity. And the economy continues to look fragile.
All of the above affect bridging and development lending to one degree or another. Buy-to-let purchases have become more expensive and will either force down property prices, limit the number of transactions, increase rents or produce a combination of all three. It could turn out to be counterproductive if politicians are serious about solving the housing crisis.
Who or what makes you laugh?
Fascinating Aida. Listen to the 50p cheap flight song on YouTube dedicated to RyanAir.
Do you dread Monday mornings?
I love my job, but why after a weekend invariably involving Guinness, football, golf, family and yet more Guinness would I look forward to Monday morning? Better, perhaps, to ask me if I dread Friday evenings!
If you could change one thing about yourself, what would it be?
If I had three wishes to be granted by the genie-in-the-bottle, the first would be to make me a decent singer. Next, I should love to be able to play a musical instrument well. And third, make me 20 years younger so I could enjoy the first two.
With whom would you most like to have dinner?
James Martin to do the cooking. David Beckham to keep the girlfriend happy. And Olivia Newton-John to help me relive those movements (and moments) from ‘Grease’.