When people think about buying a house, you can be forgiven for thinking their mortgage advisor is the person who makes it all happen. While mortgage advisers do make recommendations on lending, the final call on whether a person gets the finance they need or not is made by someone else. That job falls to the underwriting department, where the pros and cons of the application are weighed up and a decision is made.
At The Cumberland, unlike at many high street lenders, underwriting is done by a person, rather than a computer, meaning applications are considered for people, by real people.
Emma Bright has been with The Cumberland for 26 years, and has been a mortgage adviser, but now she is part of the underwriting team, putting the human element into lending decisions.
“We look at cases individually, it’s not an automated process. We assess each customer on their own merits,” she explains.
“When we get a recommendation from a mortgage adviser, they’ve spoken to the customer and got the full picture and then they share that with us so that we can make a decision.”
Included in the recommendation is information about whether the customer is a first-time buyer, where their deposit has come from and any details of income and employment.
As well as this, if there are causes for concern, the mortgage adviser will have discussed any mitigating factors with the customer to give them the best chance of having a successful outcome.
“I suppose it’s telling us a story that allows us to be comfortable with the lending scenario for that particular customer,” Emma said. “But it isn’t a computer making that decision, it’s a person, so we can be flexible.”
This flexible approach to lending is mirrored in working arrangements at The Cumberland too, with colleagues like Emma supported to have a good work-life balance.
“I work part time and I’ve got two small children – a six-year-old and a nine-year-old,” Emma added. “So I tend to not come into the office all the time.
“Previously, when my parents went on holiday and couldn’t pick my kids up from school, I’d have to take leave, but now I can go and get them myself, bring them home and then carry on working afterwards.
“It really helps with my family life.”
Mortgage team leader Gordon Harper believes this hybrid approach that came in during the pandemic has benefited everyone.
“We’re flexible with Emma and she’s flexible with us as well. Emma tends to work on a Saturday, but sometimes if we need extra help in the week, she might swap and work on a Thursday instead.
“I can’t really imagine what it would be like in our team to go back to the old way of working where you had to be in the office all the time.”
As well as the flexibility giving Emma more chances to enjoy time with her family, she’s also acutely aware of the responsibilities of her role.
“You’re conscious that you’re providing a service and helping customers,” she said. “But it’s an enjoyable responsibility because you’re providing them with the finance they need so they can get their dream house or make home improvements.”
And she’s proud of the fact that each decision is taken by a person.
“It’s not just ‘computer says no’, we’ll assess your mortgage individually – you’re not just a number.”