Thursday 31 March 2011

SENTINEL BUSINESS AWARDS

On Tuesday evening The Hanley won the award for Customer Care & Service at the Sentinel Business Awards attended by over 350 local business people from across North Staffordshire.We were thrilled to hear our name announced as the award-winner, so much so that all 12 Hanley staff charged toward the stage to be photographed accepting the handsome statuette! Bear in mind that this group of 12 staff represents 20% of our total workforce and you'll get a sense of just how energised we were.It was a superb event, not just because we won an award.As a showcase for all that is progressive and creative about this area the Sentinel Business Awards is exemplary and it reminds us all that this City is capable of outstanding results even in extremely adverse market conditions. Locally there has been huge disappointment and astonishment that Stoke was omitted from the governments list of cities deserving of Enterprise Zone status and it often feels that successful businesses in this area have head-winds to face that other cities don't, but on this particular evening it was really refreshing to hear success-stories from so many local firms. Part of the joy of winning is definitely the fact that its was local recognition of our strengths but also that we were "competing" with businesses from outside our financial services sector.This added to the sweetness of the award. From a personal point of view I was also very pleased to be introduced to David Frost the Director General of British Chambers of Commerce, a chap I've admired for a long time and whose advocacy of the business community is 2nd to none. Obviously I told him that mutuality is a 21st century business opportunity!

Monday 7 March 2011

FIRST TIME BUYERS

One of the questions I'm most often asked is What does The Hanley do for first time buyers? This question tends to assume that FTBs are a unique group and meriting very specific attention , in terms of products and service, an assumption I'd challenge as I'd caution against seeing FTBs as a homogeneous group and an accurate barometer of a healthy housing market. This is simply because the FTB market has changed markedly from the traditional view; it is much smaller than it used to be (approx 200,000 FTB transactions are likely this year, around half the level of peak years) and is more diverse than it once was. For instance the average FTB is in his/her early 30s and around 8 out of 10 FTBs now rely on help from the bank of mum and dad to gather a suitable deposit . Consequently it is important for a lender like The Hanley to have a range of options for prospective FTBs so that we can cater for the spectrum of needs they will have.That's why we have fixed and variable rate products available , as well as shared ownership advice.But most importantly, my answer to the question at the top of this blog is that The Hanley concentrates on FTBs in our heartland territory because that means we can sit down with them at one of our 6 branches and explore what is right for their particular circumstances. We believe in the value of trusted, face to face advice and nowhere is that more relevant than with a first time buyer.