Gary founded Redrock Commercial Finance in 2011 primarily to serve the different types of clients applying for bridging loans and development finance.
In recent years, the companies began sharing the same office space and they jointly invested in a market-leading internal infrastructure designed to both speed up the application process for borrowers and to provide finance at more competitive rates and on the best possible terms for clients.
It’s this infrastructure and the relationship Gary and his team have developed with lenders which has allowed the company to provide £300m of funding to Redrock clients in the past decade.
Gary’s career in specialist property finance began 15 years ago. In what he calls a baptism of fire because he was learning his job and helping customers as the storms of the Great Recession began to hang over the property market and the UK economy, he developed a particular skill in structuring complex loans for clients.
“Presenting a bridging loan or a development finance proposal to a lender is much like presenting a business plan to a bank manager,” says Gary. “The numbers have to make sense and it’s the job of me and my team to package a bridging loan or a development finance proposal like a business plan”.
Starting Redrock was a calculated risk for Gary as it is when all employed people decide to go it alone. While he found much to admire in the bridging loan and development finance industry as an employee, he believed that, following the Great Recession, the industry would need to adapt to be able to offer borrowers what they need.
The only way they would adapt, in his opinion, was having someone from the outside putting deals to lenders and strongly making the business case for the borrowers they were representing in a new way. In any business deal, both sides need to win and the true added value of a broker is opening up opportunity for lenders and borrowers showing how they can both benefit from entering a working relationship together
He still finds bridging loans and development finance endlessly fascinating and he loves working on the hardest-to-place deals. His passion outside work, to the sorrow of his neighbours, is that he is an animal on the drums.
Jessica’s working career has always been around property and property finance. A love of property has been in her blood for a long time so a career in the industry was almost pre-ordained.
She was one of the first Redrock people and she’s been in the industry now for eight years, most of those as office manager.
One of her main responsibilities is the “packaging” of a deal. What is deal packaging? We work with lenders across the whole of market and each of those lenders likes the deals we place to them to be structured in a certain way. The underwriters within lenders themselves are very busy people and they genuinely appreciate it when a broker presents a proposal to them in a way which aids their workflow.
Jessica makes sure that proposals are packaged correctly containing all the information and documentation required in a format and in an order preferred by the lender before passing it to Mike, our senior underwriter, for final examination.
Jessica is also in charge with dealing with your solicitors and your lender’s solicitors when a deal is progressing and she’s usually the person who keeps you up to date as the deal transitions from proposal to draw down and completion.
In her spare time, Jessica enjoys socialising and spending time with her family.
With a decade of bridging loan and development finance packaging experience, Mike is the senior underwriter within Redrock.
Mike and Gary are the people within Redrock who can make sure that an in-principle decision can be achieved within three hours of a borrower getting in touch with us. Mike also works with Jessica and Danielle on the underwriting of the borrowers’ deals.
Mike is a finer detail person – he’s the one in touch most regularly with the underwriters at our partner lenders and what he does is to build upon the research and discovery undertaken by Jessica and Danielle on a deal prior to it presenting to the lenders he’s selected.
In the three hours we target ourselves to get you an in-principle decision, Mike will often be the person calling you back from Redrock asking for the specific details which he knows the underwriters at a particular lender will be most interested in.
Mike loves statistics and one of his main roles here is tweaking with the infrastructure which allows us to get the answers borrowers need quickly – he’s always looking at ways of streamlining the process even further.
Mike’s analytical mind is balanced with a slightly mischievous sense of humour to which the team at Redrock and his family are often exposed! Mike fights for every deal and for every borrower and he works very hard to make sure that the true value in our clients’ proposals can be clearly seen by the lender.
Danielle is our senior case manager and her relentless efficiency and her regard for detail in working with both borrowers and lenders provide the backbone to the Redrock business.
She can often be found prepping deals prior to sending them off to lenders on our panel. She’s very much a people person and she greatly enjoys dealing with everyone involved in a bridging loan or a development finance package – the borrower, the lender, the solicitors, and more.
She is great for the atmosphere within the business and she is one of the major factors behind Redrock being an enjoyable, rewarding, and exhausting place to work. In her spare time, she loves discovering other cultures and travelling.
Phill has been working with borrowers for over two years now helping to progress their bridging loan and development finance packages from proposal to completion to drawdown.
As with Danielle, Phill’s organisational abilities are second to none and Phill is a key person in making sure that Redrock upholds its high level of service standards to clients. The most enjoyable part of Phill’s job is speaking with customers and helping entrepreneurs or those seeking to raise cash quickly to find the funding they need.
Outside of work, Phill enjoys golf and spending time with family.
Shaun heads the deal progression team within Redrock and he has had six years’ experience in the sector.
He’s in charge of both the sales and marketing side of Redrock in conjunction with Gary. His job is to find customers not only through our website and to provide Brian and Ben, his teammates, with the contact details of landlords, developers, and investors to introduce our services to the wider sector.
Shaun, like Gary, loves the sector and his knowledge of lenders and the products they offer is very high for someone who does not work in admin or underwriting. He came to Redrock because we are a whole of market provider and working with us has given him the opportunity to develop his sector knowledge even further.
Away from Redrock, Shaun loves football and spending time with his children.
Brian has been in bridging loan and development finance funding for three years now. Just like Redrock, Brian is very commercially focused and he likes being able to provide the right funding packages to the right borrower for the right reasons.
He is a very attentive listener and the nuances he can pick up in a borrower’s proposal are extremely helpful to the underwriters here at Redrock when they’re seeking a suitable lender for a client.
Outside of work, Brian can often be found at the gym.
Our newest member of staff, Ben has been in the sector for two years. In this short time, he has developed a real ability for presenting deals to the underwriting team meaning that the time required for an in-principle decision is often shortened because of his fact-finding on the phone with borrowers.
He is a great communicator and we’re excited to have Ben at this stage in his professional development.
He is used to pressure – prior to switching to the finance sector, Ben trained as a chef and, although he absolutely loves cooking, he’s pleased he doesn’t have 100 covers to worry about per shift anymore!
The “deal exit team” is really a joint enterprise by all of the members of our team but Jessica, Mike, and Danielle are de facto in charge of it.
Every bridging loan or development finance package we arrange for clients has an “exit strategy”. In other words, you must pay back all the funding you have received back by a certain date.
As many of the packages we arrange are for complex property projects or for personal fundraising, we’re aware that many planned exit dates become unachievable because of slippage in the schedule. After your funding has been secured and you have drawn down funds, Jessica, Mike, Danielle, and the team will contact you every now and again to find out how you’re getting on.
If it looks like you might miss the exit date and/or you need additional funding because of unforeseen costs on a project, the deal exit team will begin arranging other options (normally the securing of another bridging loan or development finance package). This is to make sure that you are able to fulfil your contractual obligations to your initial lender just in case the obstacle or obstacles you face to meet the deadline are too great.
Worried? Don’t be. The deal exit team are very good at what they do and one in five bridging loans or development funding packages need to be refinanced so you are not alone.
To get in touch with us, please call us on 020 3780 7610 or click here for our contact page.