Jonny Jones, chief executive at Interbridge Mortgages

What is your background, and why did you decide to launch Interbridge Mortgages?

I’ve been operating at board level in the second charge lending arena since 2005, with the majority of that time spent with the market leader. During this period, I’ve seen the industry go through many major challenges including the global financial crisis and the PPI scandal, both of which caused the market to shrink dramatically. Thankfully, I’ve also been part of its recovery, helping it to rebuild by focusing on customer-centric products.

We launched Interbridge Mortgages to bring something different to the market and help grow the sector as a whole. The team consists of many familiar faces, people I’ve worked with for decades and our aim is to make the second charge mortgage process quicker, simpler and more customer friendly. To do so, we use cutting-edge technology where it adds value, while also providing best in class human support when and where it’s needed.

We adhere to a key phrase of delivering more certainty with less friction and this centres on a laser-like fixation on all things service-led.

What has the journey been like for Interbridge Mortgages since entering the UK market in May?

It’s certainly been an exciting and highly rewarding few months. We’ve helped nearly 2,000 customers, brought on over 40 broker firms and we have completed over £100m worth of lending.

Our team has grown to approximately 80 highly skilled professionals, and we constantly look to innovate and enhance our processes to better serve the ever-evolving needs of our customers and strategic partners.

What is the current state of the second charge lending market, and what trends are you seeing?

As we saw in recent data from the Finance & Leasing Association (FLA), new business volumes for second charge mortgages grew by 16% in August with the total value of new business through the month reaching £152m, and in the eight months to August new business grew 20% by value to £1.1bn compared with the same period in 2023. These are impressive figures and demonstrate why there is growing confidence throughout the intermediary market and why many of our broker partners are investing heavily in lead sources, systems and people to ensure they meet this growing customer demand.

New entrants, like Interbridge Mortgages, are helping to drive improvements and competition while further raising the profile of the sector within the industry and beyond. This is vital as misconceptions do persist, with some still viewing second charge lending as a last resort. In reality, our borrowers are typically highly creditworthy, with good quality properties and strong incomes. Many are looking to consolidate short-term borrowing or access funds for home improvements without disturbing favourable first-charge mortgages.

In short, the future is bright.

How does Interbridge focus on creating better customer outcomes?

From the outset, we’ve concentrated our efforts on a few key principles to ensure we deliver great customer outcomes. Firstly, we invest in the best people as having a knowledgeable, experienced team is crucial. Secondly, we empower our team to use their expertise, trusting them to deliver excellent service. Innovation is also central to what we do, whether it’s developing new products or improving processes, we’re always looking for ways to stand out and improve the customer experience.

When you build a customer-led business from the base up, it’s vital to have the right processes and culture in place from the off. One integral component within this is to recognise that it’s not always about trying to reinvent the wheel from a service or product perspective or being a disrupter for the sake of disruption. It’s all about doing the simple, as well as the more complex things, consistently well.

What’s next for Interbridge Mortgages, and what are your goals for the next 12 months?

It’s been a hugely encouraging start and while we’ve achieved a lot in just a few months, there’s still so much more potential in the second charge market that we are looking to tap into.

Over the next year, we’ll focus on continuing to grow the market and develop our technology to make the mortgage process as seamless as possible. We’re also looking at ways to further strengthen our overall proposition and reduce any pinch points for customers. In terms of team development, we’re planning initiatives like graduate schemes and management training programs to ensure we retain and nurture the best talent in the industry.