Monday
After a relaxing weekend, I walk to the office. I try to do this as often as I can as I use the time to reflect on the work day ahead.
I know that the first thing to do this morning will be to break the bad news to a client that his equity release mortgage has been declined and as he is planning a huge renovation to his house involving surveyors and architects, he will be disappointed. I need to find another lender quickly and also diplomatically explain to the client that if they want to get a loan approved it is best not to have so much ‘stuff’ everywhere that the surveyor can not get into the rooms, which was the main reason for the loan being declined. This is why I like to visit clients in their homes so that I can spot any potential problems.
The rest of the day is taken up with working on improving the home page of our website. Marketing is an important part of my work, but it is not always easy to fit it in with the demands of my clients and I need to drop everything to speak to an existing client who desperately needs further funds and is now living off his credit card. It is frustrating because I did a lot of debt counselling with the man and his partner only six months ago. You can lead the horse to water and all that.
Tuesday
No walk to work today as I am meeting a client in one of our other offices. She has just found a house to buy and needs equity release to finance the purchase. She is currently driving five hours a day to get to and from work so this move is vital if she is not to burn out completely.
She is much younger than her husband who is in very poor health and not only is she working, she is caring for him too. This way of raising finance is literally a lifeline for this couple and she has been looking for a house for the past six months, so I am pleased that I can finally do something for her. I spend half an hour convincing her that power of attorney is more than just a good idea, but it is all part of the job. After this I go to see an IFA who has a client for me and we discuss the possibilities prior to our meeting with the client.
Wednesday
Having checked my emails and also organised any administration tasks, it is time for a meeting with our managing director to discuss the progress of the department and also a new trainee adviser who will shortly be starting work and will need ongoing training. I like the idea of this because I believe that equity release can be a life changer for clients and want to spread the word. The work is far from boring; clients’ needs are many and varied and in the afternoon I have a meeting with a sprightly 78-year-old who wants to raise money to buy a classic motorbike. Good for him.
Thursday
In the morning I see clients advised by StepChange to take out equity release. They have got themselves into serious trouble with their credit cards and unfortunately the wife had no idea of the extent of the problem. She is upset because her husband had hidden the amount of debt from her, so I spend a lot of time explaining and reassuring them with the help of tea and biscuits. Being able to make a difference is one of the things about the job I love, but the meeting was quite stressful and am quite happy to spend the rest of the day in more routine tasks.
Friday
Where did this week go to? This morning I look through the referrals I have received and give feedback on the clients I have seen to all my introducers. This keeps them all happy and ensures that the referrals continue. So much better than advertising and it is also cheaper. I check that the three mortgage completions scheduled for today have taken place. Even better, a grateful client sends me a bottle of Champagne to say thank you for the work I have done.
As the day progresses, the usual Friday atmosphere in the office prevails and I finish off a couple of reports and ensure that I am prepared for my meetings in the week ahead.
Tracey Lucas is an equity release adviser of The Mortgage Centres
