Mortgage Strategy interviews Islay as he discusses the moment he discovered an untapped market, how to nurture brokers and adapting to changing workplace environments

What was your main ambition when setting up Enness in 2007?

Starting my career as a part-time ‘keyer’ at Alexander Hall, my job involved entering mortgage sales into archaic software.

Progressing to become a full mortgage broker, I witnessed the booming property market and the mostly unregulated mortgage landscape of 2004–07.

We encountered a diverse clientele, including international, high-net-worth individuals — all with complex needs. Recognising an untapped market, we envisioned a brokerage specialising in higher-value and more intricate transactions, offering offshore mortgages, multi-currency options and solutions for international buyers in London.

I advocate for more stringent entry barriers into the mortgage market, to protect both clients and the industry’s integrity

How important are advisers in the success of the business?

The business doesn’t work without good brokers and we are lucky to have some of the best. Our approach prioritises quality over quantity, with a focus on nurturing exceptional brokers who operate as independent businesses within Enness.

Good brokers establish niche markets, implement structured sales processes and meticulously manage relationships with both lenders and borrowers.

However, success isn’t solely attributed to brokers; our exceptional compliance, operations, sales support, client management and marketing teams collectively contribute to maintaining a thriving business.

What does your day-to-day role entail?

My greatest success has been creating a team and management structure that gels across the board

I fully oversee direction and strategy, work with the teams individually, generate new opportunities and make sure we are on the right course.

Resource allocation is always a central part of
my thinking. Have we got the right person here? Is our attention on the right product or section? Are we spending money in the right places?

Can you outline the biggest challenge you’ve faced in your career in financial services? And what has been your biggest achievement?

People management remains a significant challenge. The industry’s evolving dynamics and changing workplace environments demand continuous adaptation.

Good brokers establish niche markets, implement structured sales processes and meticulously manage relationships

My greatest success has been creating a team and management structure that gels across the board. The secret to this:

• Hire the best people you can;
• Hire people when you come across them, not off an advert to fill a role;
• Give a clear brief of what’s expected;
• Empower and support them to deliver;
• Create a transparent and open communication structure.

If you could change anything about the mortgage market, what would it be?

I advocate for more stringent entry barriers into the mortgage market, to protect both clients and the industry’s integrity. The current system allows inexperienced individuals to offer complex financial advice with minimal educational qualifications.

Patience, persistence, and a deep understanding of client needs and lender capabilities are essential

In unregulated parts of the market, literally anyone can fact-find a client, write a proposal and send it to a bank — and the borrower has very little protection if things go wrong. There should be a higher hurdle to jump to be able to advise people on how to borrow huge sums of money.

What do you have planned for Enness Global over the next 12 months?

Our focus is on executing our vision established a year ago.

While a significant portion of our revenue still originates from property-related finance, we’re diversifying our offerings. We aim to generate 30%–40% of revenue from mortgages and real-estate based lending, with the remainder from other debt products and growing service propositions.

I witnessed the booming property market and the mostly unregulated mortgage landscape of 2004–07

We are focused on continuing to build out our teams, their offerings, the marketing that supports them and how the business as a whole works more towards enhancing the client’s journey rather than making a sale.

What advice would you give to those considering a career in the mortgage market?

Patience, persistence, and a deep understanding of client needs and lender capabilities are essential.

Visit the interview here.