60 seconds with Business Development Manager Andy Yates from Teachers Building Society

Nathan Reilly spoke with Business Development Manager Andy Yates from Teachers Building Society to chat about what Teachers Building Society can teach the financial services industry, why he loves his job and his West Country roots.

Andy has over 30 years’ experience working in the financial services industry. Having worked with high street lenders, as an adviser, regulated trainer, T&C supervisor and regional manager he has a huge amount of knowledge about mortgages and the wider financial industry.

 How do you help both Network and Club members?

The recent broadening of our lending criteria means that we are now available to all occupations nationally, we’re like a new lender option for you. As a smaller regional building society you can quickly build a relationship with us as you have continuity of contact points with the broker team, we provide an excellent speed of service, access to in-house underwriters for decisions, strong affordability at higher LTV with our 5 times income cap available up to 90% LTV (95% LTV for teachers) and we’re also able to consider future contracts and probationary periods.

 What sectors do Teachers Building Society specialise in?

Our lending is based on criteria rather than price, we can help FTB or First Time Movers requiring higher affordability at higher LTV. We are happy to consider an applicant’s future contract and those starting on a probationary period – useful where payslips are not yet available. We support the government Help to Buy schemes both purchase and re-mortgage and provide a 95% lending option for shared ownership clients. Specific teacher criteria include:  Newly Qualified Teachers on their first one year contract are treated as permanently employed and Supply Teachers can be considered once they have a track record of two academic terms.

What is it that surprises advisers when you talk to them?

That we have broadened our lending criteria to support all occupations – not just teachers! Our 5 times income multiple remains available up to 90% LTV … and 95% LTV if you are a teacher.

What’s the best part of your role as Business Development Manager?

Easy answer – the day to day contact with advisers and being able to provide a solution. I really enjoy the relationship side of the BDM role, its great working with established adviser relationships and as one of the smaller regional building societies, I enjoy the opportunity of presenting and meeting new broker firms.

 What can Teachers Building Society teach the financial services industry?

Good question – I’d say use our experience of the Teacher profession sector, future contracts, pension contributions, supply teachers etc. Every lender will aim for first class service levels and Teachers is no different – if you’ve not used us before give us a call.

 If you could live anywhere in the world, where would it be?

I’m a West Country lad, so I would move back to the south west, somewhere on the coast like Shaldon – it’s a lovely spot with some great local pubs. The Shaldon car sticker I saw made me smile “A beautiful drinking village ruined by fishing.”

If you could only eat one meal for the rest of your life, what would it be?

Playing on my West Country roots, I’d opt for a pasty!

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