You have probably read a few things about UTB’s Asset Finance Underwriting team and how we build strong relationships with brokers by encouraging direct contact with our underwriters, many of whom have specialist knowledge and experience.
We’d like you to meet Rob Irving. Rob is UTB’s roving Asset Finance Senior Underwriter covering the North-West of England. He joined UTB in 2022 and is a highly experienced and well-known Asset Finance professional with a career in the finance industry spanning over 30 years. Rob has a pragmatic and commercial approach to lending and enjoys looking at the more complex and challenging deals including mid-ticket and refinance proposals, which usually means speaking directly to brokers to get deals agreed quickly.
What makes a solid deal?
The obvious answer here is a fully asset secured deal at day one and throughout the term of the agreement. However, these deals are few and far between, so a good proposal from a broker really helps. Sometimes when you initially review a deal it looks unsupportive, but when you’re given the full picture its often stronger than suggested or there are mitigants to enable us to support the deal after all.
What’s your average turnaround time on a mid-ticket/refinance deal?
We work to same day turnaround for proposals up to £150k and next day for proposals between £150k to £750k. Larger and more complex deals we work to a two-day turnaround.
What does UTB do that can really help a broker secure a deal?
To help and support our brokers we’re happy to meet the customer face to face on any larger deal or refinance and this ensures we obtain all the relevant information to enable us to quickly underwrite the deal. This helps us tremendously as we gain a better understanding of the business which makes the underwriting processes a lot slicker, benefitting the broker and the customer.
Does UTB do things other lenders don’t?
We do a number of things lots of other lenders don’t. For example:
• There are a limited number of funders in the AF market willing to provide refinance.
• Even fewer funders are willing to consider debt consolidation and other rationales.
• There’s no age restriction when considering funding of assets whether for purchase or refinance.
• We encourage direct access to underwriters where brokers can discuss cases prior to submission of a formal proposal.
Give three top tips for brokers
when presenting a mid-ticket or large refi deal to UTB
• Provide us with a detailed write up on the business i.e. when it was established, what it does, where they trade from, what’s their customer base and details of the management team and their experience.
• Provide details about the asset including the make, model, full specification and the mileage or hours worked. For refinance it would also help if the rationale for releasing the capital was also given.
• Provide the recent financials for the business along with any management information and bank statements to assist us in assessing the serviceability of the request.
Rob Irving Q&A
Memorable moment – I have two. My wedding day in 2005 and the birth of my daughter in 2009.
Favourite drink – A nice, cold Peroni
Favourite film – The Usual Suspects – (Who is Keyser Soze?)
Favourite pastime or passion – My spare time is mostly spent with my wife and our daughter. We enjoy travel and holidays and try to get away to do something at least once a month whether it’s heading to the sunshine or a cheeky couple of days away in the UK. Life is too short and for me it’s all about enjoying every day and making memories.