As you probably know by now, at UTB we love it when our brokers build a strong relationship with our Credit team, and we positively encourage direct communication with our underwriters. Over the last few weeks, we have introduced you to some of the Credit team and this time it’s the turn of Oliver (Olly to his friends) Hobday.
Olly is one of UTB’s Senior Underwriters with a particular interest in mid-ticket and refinance deals but also likes to get creative with high value cars and agricultural plant and machinery now and again. Olly is well known in AF circles and joined UTB in 2021, having previously worked with Hampshire Trust Bank, BNP Paribas and BMW FS. He’s a fan of ‘story’ deals he can get his teeth into, which is fitting for someone who can quote ‘Pulp Fiction’ word for word.
What makes a solid deal?
In an ideal world? Strong financials, a great asset and a long-standing business with a good story. The reality is that most deals won’t be this easy! One of our key USPs is being able to craft a deal that many funders simply cannot get to. We look at the bigger picture, engage with specialist valuers and discuss all the details with our brokers before structuring a deal which hopefully works for everyone.
What do you enjoy most about funding mid ticket/Refi assets?
Every deal is different. The most enjoyable deals are the ‘story’ deals. Deals which it would be very easy to dismiss at first look, but by taking a little extra time and going the extra mile we can often find a workable deal.
What’s your turnaround time on a mid-ticket/refi deal?
Always aiming for same day turnaround for deals up to £150k and next day for deals between £150k to £750k. Larger and more complex deals we work to a two-day turnaround but depends on the asset and customer.
What does UTB do that can really help a broker secure a deal?
I think lots of lenders ‘talk the talk’ about having access to underwriters, UTB actually do it. Many of our brokers speak to Credit just as much as they speak to their BDM, more so in some cases. This direct dialogue allows us to get to the heart of the matter if there’s something missing or needs clarifying and removes the ‘email tennis’ which is annoying and time consuming for everyone.
In your view, what does UTB do better than anyone else?
Across the team we have decades of experience in complex refi deals. If there’s a solution to getting a deal over the line, we will find it.
3 top tips for brokers when presenting a mid-ticket/large refi deal to UTB
There’s nothing earth shattering here, these are always important:
• Up to date financials
• As much detail about the asset as possible
• A thorough background of the business and the shareholders.
Olly Hobday Q&A
Memorable moment – Mountain climbing in Australia when I was 18.
Favourite drink – Rum and diet coke Water obviously
Favourite film – Pulp Fiction. Will watch it any time it’s on and annoy my girlfriend by quoting it line for line.
Tell us something most brokers don’t know about you – I love going to Salsa. My partying days are way behind me so being able to go out on a weekend with my girlfriend and have fun while staying (relatively) sober is amazing.