Business mortgage

Case Study: How to Grow a Mortgage Consulting Business

Mark Dyason, national media expert and director of a mortgage and protection company in Edinburgh, describes what happened next when he started his own mortgage company. From employing just three advisers to choosing the right network, it’s all there.

From my first day at the kitchen table with a laptop and mobile, I was full of excitement when I launched Edinburgh Mortgage, so I launched like a rocket.

I settled in, hired the wrong person, had a bad office, and advertised like there was no tomorrow. Fifteen months later, I had learned some pretty tough and expensive lessons and was back home, working in a recently converted garage.

Without the help of Kevin Duffy, the MortgageForce team and especially Lin Jones, I might not be here, but I was determined to repay their support. The right network and the right support are the key to success as a broker.

I needed quality leads and leads, so the website I had written myself received an almighty professional upgrade. I found myself on social media, joined networking groups, and started building relationships. Speaking of which, it also prompted a rethink of how I dealt with BDMs. From my background as a lender, I had come to the idea that brokers only use BDMs to fix things. My mistake. Today I’m trying to focus on what we can write and try to avoid what will cause both problems. This attitude and not having to set an alarm clock to set aside funds has made a lot of difference. I continue to work on it.

The business had grown and I needed someone to support the administrative function and one of the top BDMs said he might know someone who could be exactly what I was looking for. Maryann entered the business for the next 2 years, you can only imagine my relief the very first morning she walked in, took a Coventry app from me and said “I’ll do it”. The right person is so important, and neither are the people who market your brand on your behalf.

Finding the next broker was difficult, some came and went, not reaching the required level, but I knew the right person was there and it turned out that Chris and more recently Kevin came into the business bringing quality and hard work. They put us on a foundation that allowed us to grow. We now have a growth oriented training program, with trainee brokers joining our industry and a case management team with development plans for action. We want to be a company that invests in its people.

The business has, since that day I returned home, doubled in size every year and I’m sitting down to write how to do it again next year. It will be fun to try.

Mark Dyason is the Director of Edinburgh Mortgage Advice

Mark Dyason, Director of Edinburgh Mortgage Advice