The Five Minute Interview with Michael Primrose, Managing Director, The Property Finance Collective

The Property Finance Collective are a team of professionals specialising in Bridging Loans, Commercial Finance and Development Finance based in Spalding, Lincolnshire.

The company have vastly grown within the past 18 months, doubling their workforce and driving a focus on apprenticeships and training schemes within their team.

The Property Finance Collective have a strong emphasis on innovation within the industry, and in the past two years have developed their own mobile app, Podcast hosted by Managing Director Michael Primrose, their property networking event in London – as well as their own training platform, The Property Finance Academy!

We speak to managing director Michael Primrose:

What is the best thing about being in the bridging & development finance business?

For me, I love being able to put a deal together. Bridging and Development Finance allow a flexibility to structure a deal that a Resi Mortgage or BTL Mortgage just could not offer.

I also really enjoy building relationships, and this industry seems to be one of the best for getting out and about and meeting people.

Whether it be the golf course, or just a visit to the office, people in this industry are always happy to meet and have a chat

What keeps you focused?

My children. My wife and I have 2 young daughters and a newborn son. It is the driver for both of us.

We want to give them all a great start in life and making this business a success will give us the financial means to give them opportunities that they may not otherwise have had.

My team also keeps me focused. As a Business Owner, you are very aware that you are responsible for the financial wellbeing of your team, and their families

What qualities do you look for in your employees or colleagues?

I don’t have anything that I look for specifically in an employee. I am very open minded when it comes to our hiring strategy.

I am a firm believer that your qualifications come second to your work ethic. We have had employees that have been academically strong, but they have lacked the work ethic to succeed, and as such have not lasted long within the team.

On the other hand, we have employees that struggled in a school environment, and struggled with exams, but they have a strong work ethic, and have such, become integral cogs within the team

Are you an optimist or a pessimist?

When I started in commercial finance I was definitely an optimist.

I very much believed that every case was going to complete, and that every lead was a fantastic one.

However, you very quickly come to realise that you have to be quite pessimistic in this role. Not every lead that comes in is going to complete!

Also, as a Business Owner, you have to wear a pessimistic hat, as you never know what is going to be around the corner, and it is better to be prepared!

What did you want to be as a child?

I have always been very analytical, and I always wanted to be a police officer.

I actually had a place at university to study crime scene forensics, before having a complete U-turn and going into Conveyancing

What will be the greatest challenge facing the bridging & development finance industry in the coming months?

I think the biggest challenge is going to be the economical recovery post covid.

However, the Government seem keen to keep supporting the property market, and have already introduced some good measures to try and keep this mini boom going.

Only time will tell when the boom ends, and how that will effect lending options moving forward, but I am sure the Government will be doing all they can to avoid a crash.

Who or what makes you laugh?

I love stand up comedy. Lee Evans and Michael McIntyre are two of the greatest and never fail to get me laughing!

Do you dread Monday mornings?

Not at all. Being the Business Owner means I tend to work every day anyway! Luckily I own a business in a sector I love, so I never dread pulling my sleeves up and getting stuck in.

If you could change one thing about yourself, what would it be?

My musical ability. I couldn’t carry a tune in a bucket, and I have no talent when it comes to instruments!

It would be nice to have some sort of musical ability.

With whom would you most like to have dinner?

Alan Sugar. He is so controversial, but you cannot deny he is an incredible businessman. I’d love to pick his brain!

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