In your Fingerprint Financial Planning team update this month, meet senior client manager Vicki Upton.
With 18 years of experience in the mortgage industry, Vicki’s exceptional communications skills and mortgage knowledge – she’s a fully qualified mortgage adviser – mean that she can help you with any queries you have.
Let’s find out a little bit more about her.
What attracted you to the mortgage industry?
Honestly, I kind of fell into the mortgage industry. Starting aged 17 as an office junior and having no idea about “mortgages”, I was able to listen and learn from the people around me.
I was first drawn in by customer service. I found huge enjoyment in helping clients purchase their dream homes. I was there every step of the way, from the initial mortgage application submission, right through to completion.
Then, seven years ago, I was invited to join the Fingerprint family and it really was the best decision I could have made. Although I was initially hesitant, since being here I have trained and qualified to be an adviser, which has allowed me to see the mortgage industry as a whole.
I find the mortgage industry so interesting, even after all of this time. It changes daily so there is always something new to learn.
What do you like most about your job?
That’s easy! The team.
I have never worked with a bunch of people who work so hard and have the same goal. From management to our administrators, the client always comes first. We appreciate that without our clients we wouldn’t be where we are now.
As a team, we work together to ensure that everyone we speak to receives the best possible outcome.
There is always someone around to help should we need it. Each of us is really good at what we do and it still amazes me the amount of knowledge we have between us. I work with the best team, and as corny as it sounds, we really are a family (I tell everyone this when we interview!).
The support, admiration, and commitment we have for each other are second to none. I am sure the rest of the team will agree with me, we wouldn’t want to work with anyone else or for anyone else.
Can you give an example of a client you have really helped recently?
I recently had a client who wanted to buy a barn through an auction. They had been looking for almost a year to find the perfect barn to convert and eventually move into.
They came to us wanting to borrow more money on their current residential property. Due to affordability, this was not possible. However, having done some research, the clients were able to borrow the funds required using a second-charge mortgage.
Another challenge was that, because this barn was being bought at auction, we had an extremely tight deadline.
Having ensured that we had all of the required information and documents from the client, we worked very closely with the lender, and the client was able to complete in 12 days. This is unheard of in the current market.
As you can imagine, the clients were overjoyed with this outcome. They can now complete and renovate the barn, which is something they have wanted to do for a very long time.
What are three things you would tell your 21-year-old self, trying to get onto the property ladder?
1. Save, save, save
The more funds you have the better position you will be in.
Most people forget the additional fees that need to be paid when purchasing a property (especially as first-time buyers). For example, solicitor fees and stamp duty.
2. Keep track of your credit score
We will almost always be able to find a mortgage lender, but if you find yourself with missed payments, CCJs or defaults, this could affect the lenders your mortgage can be placed with.
More often than not, these types of lenders come with higher interest rates and higher fees.
3. Work with a professional
Working with someone who can help you through the process is crucial.
There are a lot of advisers out there that are more like salespeople. They are more interested in numbers than their client’s needs.
Find someone willing to take the time out to answer any questions, no matter how small and will be there to hold your hand from start to finish.
It’s been in the news that many high street lenders stopped lending or doing new business in response to the recent market turmoil. What is the situation now?
Many high street lenders did stop lending shortly after the mini-Budget, but not for long. Most were back on the market within a few days.
I think lenders were worried about the uncertainty in the economy. However, most lenders re-priced their interest rates and were back in no time.
Interest rates are higher than a month or so ago, but we can still help clients purchase or re-mortgage, ensuring they have the best interest rate available to them and their circumstances.
How have recent interest rate rises affected your clients and changed the help you give them?
It is a very unsettling time at the moment, not only dealing with the interest rate increases but the cost of living as well. Our clients are finding that they are spending a lot more money on day-to-day living than they are used to and can no longer afford the luxuries like nights out or holidays.
The conversations I have been having with clients recently have been extremely challenging for many reasons. For example, breaking the news that their mortgage payment is increasing by £30-plus, or having to tell a client that they cannot afford to buy their dream home.
However, it is my job to ensure that I am safeguarding the client, not only now but in the future as well. Honesty is the best policy and while these conversations can sometimes be difficult, the clients I have spoken to all seem to understand.
