‘I enjoy structuring deals and finding creative ways to support brokers and borrowers’
By Tony Sanchez
In our latest Five Minute Interview, Tony Sanchez speaks to Nick Russell, Sales Director at TAB.
TAB provides unregulated bridging and refurbishment loans and development finance to borrowers who need access to short term capital, quickly.
They also enable investors to access the UK property market by funding bridging loans or fractional property investments.
What is the best thing about being in the bridging & development finance business?
I enjoy structuring deals and finding creative ways to support brokers and borrowers, every deal is different and presents challenges that lenders can solve.
Although we are talking about a lot of money being transacted, I feel that the industry isn’t as formal as people think. We’re still professional but we have fun with it.
What keeps you focused?
My family and especially my kids keep me focused. I want to provide them with the best possible life whilst also being a positive example to them.
I am self motivated and I love it when cases complete on time and the client is happy.
What qualities do you look for in your employees or colleagues?
Willingness to learn and work hard, whilst at the same time being able to enjoy a bit of banter.
Consistency is also a big thing for me when looking to add members to my team.
Are you an optimist or a pessimist?
100% I am an optimist. Even if deals fall out of bed or the market is taking a turn, it is an opportunity to learn and make myself better.
What will be the greatest challenge facing the bridging & development finance industry in the coming months?
I would say the greatest challenge is uncertainty around exiting loans. This is mainly due to values and the cost of capital and ICRs (interest coverage ratios).
Who or what makes you laugh?
My friends, kids and colleagues. I really do enjoy having a laugh. It makes the world go round, especially with everything going on right now.
With ‘cancel culture’ and everything associated with that, it is important we don’t take ourselves too seriously.
Do you dread Monday mornings?
No. I love what I do and who I work with. Building TAB into something special drives me every day.
If you could change one thing about yourself, what would it be?
I often leave things to the last minute and then have the time pressure of getting them done, so I would like to be more organised.
Having said that, I do my best work when my back is against the wall!
With whom would you most like to have dinner?
David Goggins – Former Navy Seal, ultra runner, and former Guinness World Record holder for completing 4,030 pull-ups in seventeen hours.
He’s also known as the toughest man on Earth.