As we continue with our Meet The Team series, this week we would like to introduce you to Jason Shead, Head of Risk for our short term lending products.
Jason holds a crucial role within the bridging and development finance team and is a key decision maker within the short term lending side of our business.
How long have you been in the industry, and how long have you been at West One?
I have been in the finance industry for 21 years and have been working at West One for over 6 years.
Describe your role at West One.
My role within the team is quite varied. The main areas of my responsibility include managing the risk across all of our short terms loans, including development finance and providing loan mandates.
I am currently the lead for West One's ongoing CBILs project as well as being responsible for West One's Short Term Lending Policy, procedures and responsible lending. In addition to this I am the key authority for post completion servicing matters.
How has the bridging industry changed in the last five years?
Wow, dramatically! Of course there remains industry stalwarts, such as West One, however I have not witnessed as much of a sea change in the industry this time around (drawing from direct experience of the Financial crisis of 2008). From the EU referendum in 2016 to the current world pandemic, I think we could all agree we have been through enough change for the time being!
As we look back over the last five years, there are many new entrants that have been and gone, some large well capitalised lenders also fell by the wayside, but for those that remain it has had a positive effect in that the incumbent lenders are now more focused on service and surety of delivery to their partners and clients. I have also noticed that many lenders, including West One, have upskilled and retained some key personnel to offer that depth of experience that is so vital in lending operations.
What will be the greatest challenge facing the bridging finance industry in the coming months?
As you might expect as we come through the pandemic, there will be certain milestone economic points what we will closely monitor the effect of, such as the end of the Furlough scheme and the end of the stamp duty holiday.
First thing you’ll do once we are out of lockdown?
The first thing will be to enjoy the simply things, such as a family meal. However, the main thing I look forward to is a family holiday in the summer.
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