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CV: Ms Jones began her career with Coventry Building Society as a cashier in 1983. Since then she has held a number of roles including regional sales manager for the branch network between 1994 and 2000 and head of branch network between 2000 and 2004. She has held the post of head of intermediary sales since 2004.

MA: How did you move into your current role?

JJ: I have been at the Coventry for 25 years so it has been a long career here. I was previously head of branches so I have been in the sales environment for a long time but the opportunity arose to move into the position of head of intermediary sales and it was a really exciting challenge. I had not worked with intermediaries before so it gave me a chance to gain wider skills and knowledge. I am really delighted I made the move as it is an excellent job.

MA: What were you tasked with doing when you first moved into the role?

JJ: When I first started it was about pre-mortgage regulation. Coventry's intermediary operation at that time was successful but quite limited. We were not particularly well known in the intermediary market. My task was to grow the whole distribution channel and brand awareness, for example by negotiating with some of the major networks and mortgage clubs we were not doing business with and we were not panel members of. It was about getting appointments to those channels and improving the structure and effectiveness of the sales team. It was about growing distribution, growing awareness and getting us into a position of being a recognised intermediary lender and a successful one.

MA: So do you feel you have ticked those boxes?

JJ: Yes, I have achieved a lot. Since 2004 we have more than trebled our intermediary lending and in two separate years, not two consecutive years, we have doubled business volume so we are now considered a major player in the market. We are on the lending panel of virtually every major intermediary firm and also we have got Godiva Mortgages as our specialist lending arm. I was instrumental in the implementation and launch of Godiva Mortgages and it has been well received in the market.

MA: What do you think you still need to work on? Have your priorities changed in recent months?

JJ: I am never satisfied we have got everything right because of course we have not. We have got a good reputation for delivering strong and effective, efficient service, which is really important. That is great but there is always more we can do. We are a lender that is still lending in most of the markets we have always done with the exception of 125 per cent plus loan-to-value, which everybody pulled out of. But we are looking to continue to expand our intermediary distribution. It is not something we are looking to draw back from. It is something we want to grow so as that moves on we will only focus in areas where we can help intermediaries. Recently we moved into equity release, for example. We are an innovative and forward thinking lender so we will be looking at all sorts of things.

MA: How has the equity release arm been received since its launch?

JJ: It is going well. I am delighted with the reception we have had from lifetime mortgage intermediaries. We have brought some innovation into the market as well with our no early repayment charge product, which is a relatively new concept that has been well received. We are committed to raising awareness about equity release generally and what it can do for people. We are really serious about that. The business we have received so far exceeds what we expected so that is exciting. We have already got a significant share of new business so considering we have only been in this market since the beginning of February we are pleased with how it is going it has been positive.

MA: So there has been a lot of interest from advisers?

JJ: Absolutely. A lot of advisers are registering to do business with us on this side. We are taking good levels of business so we are very pleased.

MA: Coventry has promised not to dual price whereas other lenders have been unable to make this commitment. How do you feel about this?

JJ: Although it has recently come out in the press it is not something we have only recently given a commitment to. When we launched Godiva Mortgages more than 12 months ago we launched with a set of pledges to intermediaries, one of which was we would not differentially price across channels. Those sort of pledges have really come into their own at the moment. We are getting a lot of praise where others are unable to make such a commitment. I cannot comment on other lenders' pricing or strategies but our pledges demonstrate continuing support to intermediaries. We have no intention of changing them. We have a no cross sale guarantee and a promise to give two working days notice of any product withdrawal. That sort of thing demonstrates true working in partnership with intermediaries in a really difficult market for everybody. It is something we are serious about and though we have had this in place for more than a year, it has become more relevant now than ever.

MA: Have you seen an increase in market share since dual pricing has become apparent?

JJ: We have certainly had increased interest. We are getting a lot of positive feedback from the pledges and that is resulting in people coming to us and placing business.

MA: Are some lenders in danger of alienating the intermediary community with dual pricing?

JJ: Intermediaries obviously take lots of factors into account when they recommend a lender and a product to their client. Clearly they have to advise on the most appropriate product in each case. We are aware a number of intermediaries have publicly stated when the market returns and lenders are looking for volumes again they will remember lenders who have supported them during this time. This is evident in the market already.

MA: What would you say is the biggest challenge you have faced?

JJ: When I first took over as head of intermediary sales there was lots to do and what was most challenging was getting our name out there among the intermediary market as a serious player and proving we could deliver. The biggest challenge was getting ourselves onto the main lender panels of the major introducers. That was a big challenge but one we succeeded in. It was not just getting on those panels but staying on them and remaining a serious player. You have got to be working with them constantly.

MA: What would you say you are most proud of and has been your biggest success?

JJ: The launch of Godiva Mortgages was a real highlight. Working with a team from across our business to develop and launch a new company was something I had never done before. One of my biggest responsibilities was to ensure our intermediary partners really understood what we were doing and why we were doing it. A year on I can honestly say we have achieved that. A lot of people put a lot of work and effort into that launch and it is brilliant it is so successful. I would say that is something I am particularly proud of.

MA: Some people have said the market could not continue the way it was going and it needed a reset. Do you agree?

JJ: Some of the products that were out there a while ago cannot return. Some of the 100 per cent LTV plus things it is difficult to see that type of thing coming back. In terms of the products it has settled back to a situation that it was at years ago but obviously we are hopeful things will turn around.

MA: Is there anything in the industry you think is particularly innovative that you would like to see more of?

JJ: Something we have been considering for a long time is how we can work with intermediaries to get them involved with increasing retail funding. It is not something that is massively out in the market at the moment but we could see more working together to encourage mortgage customers to save. That is a direction the market could take and I would like to see more of.

MA: So is that something you are looking at at the moment?

JJ: It is something we have been thinking about and considering but we have no firms plans.

MA: Is offset a step towards this?

JJ: Yes, that is one way and offset has been around for a while. We have seen a significant increase in the amount of offset business we have done this year, which is really good. A lot of feedback we get from intermediaries is offset is a market they clearly see as a growing market.