The Five Minute Interview with Peter Howarth, Credit Risk Manager, Mint Bridging
Mint Bridging provide handcrafted loans to meet the exact needs of every borrower. They are a unique provider of individually structured, short-term finance for property purchases, developments and general capital raising.
We speak to Credit Risk Manager, Peter Howarth:
What is he best thing about being in the bridging finance business?
Helping customers achieve their goals and ‘make their day.’ Customers value making money, saving money or saving time above everything else. We have many repeat and referral borrowers at Mint Bridging, which highlights our appetite in supporting brokers and borrowers in a perpetually tough market place.
What keeps you focused?
To continually improve the quality of our service and ensure that we meet the expectations of our customers’ requirements, first time and every time that we have contact with them. My focus is to provide professional excellence at the highest level in an enjoyable environment.
What qualities do you look for in your employees or colleagues?
Determination, unselfishness, courage and humour in the face of adversity.
Are you an optimist or a pessimist?
The ‘climate’ can change very quickly. It’s therefore important to hold those rainy day funds and have a Plan B. In my role, it’s vital to remain in control rather than being dictated by others. So I’m an optimist in producing the best yet being objective, not pessimistic, in the deal I’m working on.
What did you want to be as a child?
The next Steve Ovett, Sebastian Coe or Steve Cram.
What will be the greatest challenge facing the bridging finance industry in the coming months?
Clearly, the current political and economic factors are not ideal and this has created uncertainty in the industry and market place. Doubt hinders growth and in general, the one thing that businesses do not like is indecision. This is especially apparent since tight onward lending criteria, introduced by banks following the financial crisis, continues to be a factor. It’s therefore crucial that borrowers (and their customers) have access to cash by bridging lenders as an alternative means for financing their own developments.
The bridging industry has continued to perform well in this difficult environment, especially where lenders have left the market albeit replaced by new entrants that may swim or sink. So competitive rivalry is continuously fierce yet this could reduce the risk reward to unsustainable levels by new lenders that aren’t experienced, and reflects on the industry as a whole.
Who or what makes you laugh?
Fundamentally I like good-natured sitcoms e.g. Two Doors Down, Car Share and Early Doors.
Do you dread Monday mornings?
Monday mornings always brings fresh challenges and a new focus that eliminates complacency, but opportunity can come knocking any day of the week.
If you could change one thing about yourself what would it be?
I’d love to be able to run faster so that I could have achieved my childhood dream of being an Olympic athlete.
With whom would you most like to have dinner?
Sir Steve Redgrave.