Member Article

Newcastle mortgage firm launches to fill gap in the market

A team of entrepreneurs and finance experts have launched a new fim in Newcastle to fill gaps in the mortgage market.

Opencast Financial (OCF) comprises Joel Marks, who previously managed £17 billion of funds for Scottish Widows, Laura Sykes, former partner of London commercial property consultancy DE&J Levy, Mike O’Brien, who runs Opencast Software and local investor and entrepreneur Charlie Hoult, co-founded the business in response to market demand.

Opencast’s aim is to provide a dedicated and unbiased approach to mortgage finance, using the latest systems to select products and track the onerous process of mortgages and re-mortgages.

The firm will be based out of premises on Jesmond’s Clayton Road, and will also operate online.

Joel Marks, OCF’s managing director, said: “We believe it’s all about understanding our customers. We have a lot of life experience in our team so we feel we can listen well and collectively give good advice. That’s one of the reasons opening on the high street and having a ‘face to face’ presence was important, rather than going straight online.’

Joel added: “With the economy back in growth and interest rates sure to rise, we predict many mortgage holders will benefit from a review - fixed rate deals look very attractive. And insurers are launching innovative life policies with discounts from fitness apps.”

Opencast sees a strong market in partnership with Newcastle’s estate agents and also offers commercial property products. With her background in property, Laura Sykes is confident that the offer will succeed.

She said: “Returning to work after bringing up my family, I wanted to join a firm prepared to break the mould with a mix of professionals and a big vision for new financial services. We’ve got that and the products are strong – where we win business is by building trust, and we are definitely not sales-led. Customers always come first.”

This was posted in Bdaily's Members' News section by Tom Keighley .