London House

The Knowledge

In Conversation with Opes

January 31st 2024

This month we sit down with Opes, a whole market mortgage brokerage, providing high class service to domestic and international clients.

Thanks for sitting down with us for this Knowledge piece, can you tell us a bit more about what do you guys do?

At OPES we are a whole of market mortgage brokerage helping clients domestically and internationally to access the best mortgage options available to them. Delivering mortgage financing both quickly but also at market leading rates.

Why did you get in to this field?

When OPES was formed in 2011 we saw how confusing, disjointed, and varied the UK mortgage market was. We saw the opportunity to add value by taking away stress and efficiently adding value to our clients. Essentially delivering through our expertise, relationships, and market presence we save clients money, time and ultimately get them what they need.

What’s the gap in the market you are filling?

In recent years, the role that mainstream retail banks play in the UK Mortgage market has changed. We have a panel of over 100 lenders, and at first glance whilst the smorgasbord of options and varying criteria may look daunting, it means we can get a tailored solution for you. This usually comes down to 3 main areas, rate, leverage (The percentage of the property value you borrow) and ensuring a client can meet a lender’s criteria. Speed is also a factor.

What makes you different ?

OPES is one of the larger independently owned brokerages that is truly impartial and value all clients and introducers. We are renowned for recruiting the cream of the mortgage industry and for delivering above and beyond when compared with our more corporate less motivated competitors. Furthermore, as we are prolific in the business volumes we conclude, we have the connections that count to save clients stress. Applying directly to banks can be disjointed, slow and frustrating.

For us what makes us truly different however is our whole of market mortgage management solution. Instead of you having your mortgage or mortgages with just one lender, through our relationship with us we ensure you get the best terms in the market. With over 100 lenders on our panel, we are able to deliver the best terms for our client over the term of their loans. When this saving/ benefit is compounded over a mortgage term of circa 25 years, this is a huge saving which means you have more money available each month or you become mortgage free faster.

What’s been your proudest moment in the business ?

We are fortunate to have lots of proud moments throughout the year which gives us great satisfaction. We have a great team here to be proud of.

What drives you?

Getting results for our clients and repeatedly outperforming our competition.

What’s your view of the market over the next 18th months?

As we enter 2024 UK inflation is finally coming under control and the UK economy has proven to be more resilient than others expected. Since the start of the year we have seen a gradual decline in SWAP rates (which governs fixed rate lending offers) coupled with lenders consistently lowering rates in line with market forecasts that the Bank of England Base rate will lower rates sooner and more aggressively in the short to medium term. Lenders are lowering margins to win business and market share after lower lending volumes since COVID and as interest rate hikes meant that they were earning a higher spread between mortgage rates and the rates they are paying savers on deposit. This has led to market journalists affirming that we are now in a “rate war”.

With lower rates forecasted after a small drop in property prices (many believe we are now at the bottom of the market) and strong forecasts on property prices going forward we are expecting a return of a buoyant and busy market in the year ahead.

My London- Knightsbridge

Where’s your favourite place to eat?

Locally we love a quintessentially timeless Italian restaurant near our office called Signor Sassi.

As a team in the city, we love to go to Brigadiers a fantastic Indian restaurant in the theme of an army private members club. The food and ambience are both brilliant. They have an extensive bar and pool tables so a great place for the team to relax.

Best coffee spot?

Whilst we take a pride in our coffee options at our office, we like Carpo near our office which is a Greek coffee shop with great coffees, nuts, and chocolates.
Three words you use to describe your local area?

Prestigious, Welcoming, International

Favourite thing about the area?

Knightsbridge has a fantastic flow to it. It never feels too busy and always feels classy.