The Five Minute Interview with Paul McGonigle, Managing Director, Positive Lending
By Tony Sanchez -
Positive Lending is an award winning packager of specialist property finance including secured loans, bridging, commercial, development and BTL finance.
Positive Lending offer enhanced products and commission, delivered by industry experts.
We speak to managing director, Paul McGonigle:
What is the best thing about being in the bridging & development finance business?
I believe it is exciting to be involved in any product that is diverse and is openly promoting their appetite to lend.
We have been involved in both markets since before the start of the 2007 recession so it was not a major product shift for us as it has been for others.
What keeps you focussed?
My wife and my mortgage.
What qualities do you look for in your employees or colleagues?
The appetite to achieve, think outside the box and care about the brand. Both Chris and I are very fortunate to have a loyal and experienced team around us.
Are you an optimist or a pessimist?
Neither. I prefer realist.
What did you want to be as a child?
A firefighter. After 3 years of interviews and a very select application process (only 1 in 100 succeed) I got in. I left after a month and hated it! So the finance world found me in 1991.
What will be the greatest challenge facing the bridging finance industry in the coming months?
In the coming months? Exit routes will be the biggest test as the property market tries to stand on its two feet again and mortgage lending and property sale is the main exit routes for bridging finance. Further down the line it will be regulation.
This will definitely reduce the number of lenders and packagers in the market but I do not see that as a problem.
Who or what makes you laugh?
Lee Evans, my children and my friends.
Do you dread Monday mornings?
Depends what happened on Sunday evening. But no, in general I love work and I especially love early mornings.
If you could change one thing about yourself, what would it be?
Big one. It would not be work related. I would find more time to assist other projects around the world.
I trekked to Everest Base Camp in November 2010 and instantly fell in love with the Nepalese people.
I would like to do more fund raising to assist the local orphanages in the area.
With whom would you most like to have dinner?
Bono, Sir Bobby Robson and any high altitude mountain climber. I was very fortunate to have 2 minutes of Sir Bobby’s time once in 2007, a true gentleman.
As I have a hobby in high altitude trekking I would love to speak to the people that are braver than me and take the extra step in mountain exploration.