Meet the Team: Steven Wallis
We sit down with Steven Wallis, for our “Meet the Team” series with Arbuthnot Specialist Finance (ASFL), the short-term property finance arm of Arbuthnot Latham.
What does your role entail?
As Head of Portfolio Management, I am responsible for the smooth running of the loan book, including overseeing all ongoing developments that ASFL is funding. I also make sure that robust controls are in place to monitor the portfolio and ensure any problems that clients may experience are remedied and the facilities are repaid.
As of March 2021, what trends are you seeing in the Specialist Finance market?
The average loan term has increased by three to six months to allow clients sufficient time to sell or refinance properties, as well as to take account of potential delays in completing works or accessing materials during the current pandemic. We are also seeing very strong demand for our Light and Heavy Refurbishment products, but I would say clients are finding that properties with development potential are becoming more difficult to source or more expensive to purchase/ refurbish so there is some downward pressure on profit margins.
What would you say is noteworthy about Arbuthnot Specialist Finance?
The combined experience of the team in the short- and longer-term property finance market means we can quickly assess a proposal to advise if it is something we can assist with. We also have very strong relationship management experience and ensure clients are looked after right from the very beginning of the underwriting stage all the way through to the end, when the loan is repaid.
Are there any personal or professional highlights this year for you?
I am most pleased with the way that ASFL has supported its staff and clients throughout the pandemic, including honouring existing loan offers and continuing to fund works. We have seen a record number of development projects achieve Practical Completion during 2020 and the subsequent successful repayment of these facilities from a sale or refinance.
Finally, do you have any hobbies/interests outside of your role?
I enjoy spending time with my family, going for walks and bike rides. I am walking and running as much as possible to help the ASFL team in the Million Metre Challenge and the competitiveness amongst us is spurring me on to keep active.
At Arbuthnot Specialist Finance Limited we have the ability to provide a full range of real estate finance solutions for transactional, refurbishment and development projects throughout mainland UK.
+44 (0) 161 694 0046
Registered in England and Wales No. 11103603. Registered Address: Arbuthnot House, 7 Wilson Street, London, EC2M 2SN. Arbuthnot Specialist Finance Limited is not authorised and regulated by the Financial Conduct Authority.