Case Study: Bridging Finance of €680,000 provided in Dublin
Financing purchase of a residential investment property
The loan has been refinanced within nine months
Late last year, Onate received an inquiry in relation to part-financing the purchase of a large detached property in County Dublin. The borrower successfully secured the property for €970,000 through an intensive private treaty bidding process with multiple interested parties.
As there was a time pressure relating to the completion of the property purchase, this did not allow the borrower time to obtain a term loan from a lender. The borrower's strategy was to use the Onate finance offering to secure the purchase of the property and then refinance the property with a longer term funding solution.
Onate provided a facility of €680,000 in order to allow the promoter to close out the purchase in a timely manner. After nine months, the loan has been refinanced to a mainstream bank lender on a longer term, with the full rental income being used to amortise the loan.
Team Tuesday: Meet our Senior Accountant, Conor Dunne
Where did you begin your career?
“My first job was a long time ago in the local fruit & veg shop.
More recently, I began my career in An Post before stepping into the world of finance and lending with another alternative lender which lead me to joining Onate”
What is the best career advice you’ve ever been given?
“I think it was Einstein who said that anybody who has never made a mistake has never tried anything new.
I’ve had lots of good career advice but one thing that I remind myself of as often as possible is that you are never finished learning.
Every day is an opportunity to learn something new, whether it be from the people you work with or the challenges you encounter.
Similarly, it is important to regularly venture outside of your comfort zone, as this is where you are most likely to learn and grow”
What tips would you give to someone starting in your profession?
“Pursuing a professional accounting qualification can be very daunting from the outset.
It will no doubt be challenging, and everybody encounters setbacks along the way. However, if you can find self-belief and the determination to overcome these setbacks and see the qualification through, you will reap the rewards at the other end.
So I would always encourage anybody considering a future in accounting and finance to go for it, as it will unlock countless opportunities and open plenty of doors throughout your career”
What is your greatest professional achievement to date?
“Prior to joining Onate, my greatest professional achievement was receiving recognition from the ACCA for placing 1st place in Ireland in one of my final exams. Knowing how much hard work (and blood, sweat and tears!) went into preparing for each exam, this is a source of great pride for me.
However, having joined Onate while it is still a relatively young business, I expect that there will be plenty of opportunities for greater professional achievements - both individually and as part of the wider team as we move forward on this journey together”
Tell us something people may not know about you
“My career could have taken a very, very different path. At nine years old, my mother took it upon herself to enrol me in an archaeology course that was on every Saturday afternoon in DCU (while I wanted to be out playing football with the rest of my friends).
Needless to say, archaeology didn’t turn out to be one of my strong points! I got my wish and was out picking daisies by the time the next football season kicked off”
Dispelling Common Misconceptions about Bridging Finance
Onate has been at the forefront of the Irish bridge lending market since its inception in early 2021. While many understand the variety of uses and benefits to this lending method, there are still some lingering misconceptions. When debunked, they reveal bridge lending to be a useful and efficient short-term finance option.
Here are the three most common misconceptions that we see at Onate:
1. Bridging finance is expensive
2. Bridge lending can only be used for the purchase of property
3. Bridging finance is no longer available
1. Bridging finance is expensive
Bridging finance is a bespoke offering that allows the borrower get from A to B, be that the purchase of a property (that will ultimately be refinanced), the funding of a debt settlement with a bank or investment fund, or the releasing of equity in a property already owned, to take advantage of a market opportunity.
What the borrower is ultimately paying for with bridging finance is speed, ease of execution and certainty. Onate has a proven track record in the market for completing loans quickly and assisting borrowers through the process in a clear and concise manner. There is nothing more expensive than a missed opportunity!
2. Bridge lending can only be used for the purchase of property
Property purchase is just one of the many uses of bridging finance.
Bridge finance can also be used for:
Releasing equity tied up in a property that the borrower already owns (either debt free or with a low level of debt attaching). Equity release can be used for numerous purposes, allow for quick access to funding and is an effective way for a property owner to unlock the value of their property without having to go through an expensive and prolonged sales process
Funding debt settlements with pillar banks or investment funds. Using bridging finance to settle legacy debt issues is extremely popular as it can be accessed quickly. Secondly, certainty of funding is paramount. In addition, the term of the bridging loan provides the borrower with a track record of loan repayments and the ability to invest in the property itself. Both are beneficial when the borrower goes to refinance with a pillar bank or other term loan providers.
3. Bridging finance is no longer available
Bridging finance has been a feature of the lending market for over 60 years. However, its popularity did wane after the financial crisis in 2008. As international banks exited the Irish market completely, others - including the pillar banks - pulled back from bridging finance as they felt it was no longer core to their business. It was seen as a specialist offering that they could not effectively offer through their ever-shrinking branch network. To this end, many borrowers don't consider bridging finance as an option.
This created an opportunity for lenders like Onate to capitalise on this gap in the market. At Onate, we support borrowers who need short-term property finance to acquire investment properties, release equity in properties they already own, or to fund that debt settlement agreement that they have spent months or even years negotiating.
Bridge lenders understand their customers, their needs and can provide solutions that work for them with an exit strategy that suits their needs.
To find out more about Onate’s lending process, call (01) 697 2588 or email hello@onate.com
Case Study: Bridging Finance of €975k provided in Dublin
In May 2022, Onate was approached by a valued introducer with an opportunity to fund a debt settlement secured on a large 4-bedroom house in Dublin.
The promoter had secured the debt settlement from the fund and needed to close out the refinance within weeks.
Given the time sensitivity of the transaction, Onate acted quickly and an approval in principle was issued on the same day.
Once the due diligence fee was paid, the Onate team acted quickly to instruct the valuation and arrange an all-party call with the promoter, introducer and both sets of solicitors. This gave everyone an understanding of what they needed to happen to close out the transaction in advance of the settlement date.
With all parties focused on the debt settlement date, Onate was able to provide a facility of €975k before the settlement date which ensured that the promoter was in a position to comply with the debt settlement agreement terms.
The promoter subsequently put the property for sale on the open market and the sale led to the loan being repaid before the end of the 12 month loan term.
Team Tuesday: Meet our Senior Underwriting Manager, Shane O’Connor
Where did you begin your career?
“My first job was bartending at my local tennis club, which I’d recommend to everyone. It’s a great way to meet different characters and develop communication skills.
Professionally, it was with Pepper Asset Services in 2015 when I finished college in Shannon, Co. Clare.”
What is the best career advice you’ve ever been given?
“Build your network and never burn bridges. This is a small industry so building your network and maintaining good relationships is vital.
When joining a new business, it’s important that you prove yourself by doing and getting stuck in – people need to see that you are genuine. This will help you build your network organically.
It has become evident to me how important the contacts I’ve built throughout my career can be and how they can come back around and help resolve a problem within my current role.”
What tips would you give to someone starting in your profession?
“Don’t be afraid to ask questions. College is great to build a foundation but learning on the job is invaluable.
Starting out in a new role is always daunting but by asking as many questions as you can, no matter how silly you may think they sound, will really help you to excel at a faster pace. It will also show your enthusiasm for the role.”
What is your greatest professional achievement to date?
“That’s an easy one! I was recently promoted to Senior Underwriting Manager in Onate. It’s always a great achievement to get promoted.
However, doing it with Onate, a company I joined less than 18 months ago, at the start of its journey, makes it all the sweeter.”
Tell us something people may not know about you
“When I was a year old, I crawled through the bannisters of a winding staircase on the third floor of a hotel and somehow escaped any injury (that I’m aware of)! I’m a cat with nine lives, with about five left!”
Onate – A ‘Remote First’ Company
When Onate launched in Ireland in early 2021, remote working was the norm for everyone.
It was always the intention at Onate to opt for a ‘remote first’ working environment, regardless of the pandemic. Our staff don’t need to be in the same office five days a week to get the job done.
All of Onate’s processes are optimised for remote working, rather than adjusting an office way of working to facilitate staff working from home. This means that everyone is incredibly efficient and aligned, even when not in the office together.
Onate CEO Dan Gandesha said:
“If you start from a remote-first culture and outlook, you can end up with a much better outcome than an office environment. It’s very easy to take a simplistic approach when it comes to office work, such as do staff come in on time, do they put in long hours, are they always in their seat. Historically, that’s how we assess productivity – it has been a tick-the-box exercise. When you have a remote team, that’s not an option. You have to treat people as grown-ups and trust them.”
As a result of the ‘remote first’ way of working, having no physical office gives Onate better options when it comes to hiring candidates. Onate’s employees are based in Dublin, Kilkenny and Limerick.
Gandesha continued:
“I employed a recruit from Limerick who was the best person for the job we advertised but if I had an office in Dublin and required everyone to be in the office five days a week, I wouldn’t have been able to hire him.’
At Onate, we meet one day a week in a shared office space which gives us opportunities to have coffees and build relationships. Our office day (every Wednesday) has now become Onate’s least productive day in the week. However, from an employee relations perspective, it is important that we meet in person regularly.
Allowing people to work from home has improved the productivity of the business and borrowers have been impressed by just how quickly we can execute deals. We regularly close loans in less than 10 days and we have closed some loans in as little as 5 days.
Working remotely gives our staff autonomy and makes Onate a far more efficient operator. Even though we’re a ‘remote first’ company, we deliver fast and flexible finance, wherever you are and wherever we are.
Case Study: Bridging Finance of €385k provided in Meath
Onate received an inquiry in Q2 of 2022 in relation to the refinancing of existing debt and providing an equity release in order to fully complete a former public house in County Meath. The property had undergone extensive works in order to renovate it into five self contained apartments of varying size from one bed to four bed apartments.
Onate issued an approval in principle and the promoter was keen to progress with our finance offering as they required the equity release in order to complete the property, including the kitchens, bathrooms and floor tiling. Due to the works being at an advanced stage, we didn't require our own engineers or quantity surveyor on site to supervise or certify these works. This was useful from the promoter’s point of view as it allowed full drawdown of the loan from day one.
Onate provided a facility of €385,000 in order to allow the promoter to refinance with another lender. The €385,000 provided the equity release required to finish out the property completely. Onate also provided a six month interest roll up period to allow the promoter time to rent the property and stabilise its income. The property was valued at €950,000.
Within a six month period, the loan has now been refinanced to another non-bank lender on a longer term agreement with the full rental income being used to amortise the loan.
Team Tuesday: Meet our Group Financial Controller, Paul Walshe
Where did you begin your career?
“I began my working life at age 16 at the local newsagent, only working Wednesday and Saturday to coincide with the Irish Lotto peak hours, a manic time of the week in the newsagent world.
My first real job was in the local credit union working as a teller, before I moved to Irish Permanent Finance (Yes, I am that old!).”
What is the best career advice you’ve ever been given?
“Dragons take on many forms – the hardest task of the day, a new responsibility, an impending deadline, or even dealing with conflict – and the trick is to just slay the dragon and move on.
Don’t overthink it - copied off google, sounds good though.
I think it’s really important to mentor some folk early in their career and they will pay you back later in your career by being a sounding board, a source of intel and even buy you a glass of wine or two.”
What tips would you give to someone starting in your profession?
“You will need a calculator, don’t go for the scientific one, just a cheap Casio one and try to hold onto it for 20 years, it wont let you down.
On a serious note, working at a Big 4 firm is the goal for a lot of finance graduates. The exposure you receive to all aspects of the industry is hard to come by and allows you to develop a wide range of hard and soft skills which make you highly coveted by the majority of other companies...
If you don’t make it there, I would also seek as much varied experience early in your career as possible and you can do the relevant academics at a later date, seek out a start-up or some companies early in their journey and they could offer you greater opportunities.”
What is your greatest professional achievement to date?
“All my achievements have been as part of a collective including hiring trainees, giving them a solid grounding and watching them flourish and then fly the nest and become very successful in their own right.
Joining Onate in its rapid growth phase has been a great challenge and building new processes each and every day makes it very interesting, coupled with new funders to keep you on your toes.”
Tell us something people may not know about you
“I regularly tour around the world after a particular music band who will remain nameless, having seen them 63 times so far, it’s my kind of religion.”
Case Study: Bridging Finance of €300k provided within 6 days
In July 2022, Onate was approached by a well-known property developer with an opportunity to bridge the purchase of an investment property in Dublin, with an additional unencumbered investment property being provided as additional collateral.
The investment property was being purchased through an online auction. The closing date for the auction property was a little over a week away and because of this, the Borrower was at risk of losing out on the property as well as their deposit. Knowing Onate’s reputation for transactional speed and certainty, they contacted us directly to discuss their funding requirement.
Onate acted quickly and indicative terms were issued to the Borrower that same day. Terms were quickly agreed with the Borrower and Onate’s experienced execution team kicked into action, immediately instructing our panel solicitor and valuer. A call with all parties was held within 24 hours of instruction with both sets of solicitors, and within 48 hours, our valuer had provided Onate with valuation reports for both properties.
With all parties focused on the closing date, Onate was in a position to provide a facility for €300k within 6 days of terms being agreed. The Borrower completed the purchase of the auction property within the specified timeline, and immediately set to work carrying out light refurbishment works on the property.
Once that property was finished and tenanted, the Borrower was in a position to refinance the Onate facility with an alternative lender over a longer term.
The Importance of Bringing Vacant Properties Back to the Market
The team at Onate recently heard architect Hugh Wallace being interviewed on national radio on the topic of how Ireland’s housing crisis can be alleviated. Hugh raised a very important topic, namely the high number of vacant residential properties across the country. He noted that although some of these are large derelict buildings in our cities, many are individual residences over shops on the main streets of our villages and towns. Bringing these residences back into housing market – either for rent or for sale – is an opportunity that is currently being missed.
With regards to our cities, Hugh noted that there are many vacant properties located in Cork, Dublin, Kilkenny, Waterford, Galway and Limerick. These are also cities that have huge demand for housing, and a shortfall in supply.
Hugh also spoke of the new Living City Initiative which offers tax incentives to those willing to restore and rehabilitate heritage buildings. Bringing vacant properties in towns and cities back into the supply has added benefits when compared to the current strategy of urban sprawl. These include reduced commute times, reduced carbon emissions (from the reduced commute time), and bringing consumers (and their wallets) back into our towns and cities. Renovating a vacant property is also much quicker than building a new property from scratch.
In Budget 2023, Ministers Donohoe and McGrath announced a vacant homes tax. The tax will target homes that are occupied for fewer than 30 days in a 12-month period. The aim of the tax is to bring more housing stock to the market by encouraging people who own vacant or derelict properties to refurbish or sell.
Census 2022 reported 166,752 vacant homes across the country. To put this in context, according to the Central Statistics Office (CSO), just under 155,000 new housing units (one-off houses, houses in development and apartments) have been completed in Ireland between 2011 and Q3 2022. These numbers paint a stark picture of the problem, but also one possible solution to the current housing crisis.
At Onate, our offering is structured to allow borrowers to release equity quickly and easily from their residential and commercial properties. This equity can then be used to refurbish vacant or derelict properties and bring them back into the housing stock.
Our team of experienced, specialist property lenders offer bespoke property bridging loans to home builders, developers, property investors and entrepreneurs. We are fast and flexible, and we assess each case on its merits. All decisions are taken in-house which means we can move quickly and with certainty.
We have an appetite to lend in all locations nationally – from cities and large towns to small villages and rural locations.
Team Tuesday: Meet our Senior Underwriting Manager, Mona Samadi
Where did you begin your career?
“I began my career in AIB in 2006, starting out as a customer service official. That’s where I learned the importance of relationship management.
I briefly got to experience banking in the good times before the crash when everything completely changed. ”
What is the best career advice you’ve ever been given?
“Don’t underestimate your capabilities. Others will regard you the same way you regard yourself.
If you don’t value yourself, others will undervalue you as well. Value yourself highly, and others will follow.”
What tips would you give to someone starting in your profession?
“Stay focused and never give up what you want to achieve in your career.
Everything is possible when you put your mind to it.
Don’t be afraid to ask questions when you don’t understand something. ”
What is your greatest professional achievement to date?
“I am extremely proud of where I am in my career. Every job I’ve had since I graduated from college has, in its own way, been a career steppingstone.
I have learned something from each role that I have been able to apply to the next.
My role in Onate has also given me a new platform to do what I have always loved to do as an underwriting manager, and I’m very excited to be part of the Onate journey. ”
Tell us something people may not know about you
“I can speak Farsi!”
Case Study: Bridging Finance of €1m provided in Leinster
Equity Release Loan
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10 day closing achieved
At the end of Q2 2022, Onate was presented with the prospect of providing an equity release for a promoter who had committed to purchasing a non lender friendly property which was core to their future plans. Separately, the promoter was in the process of completing a high end bespoke new build in a great east coast location where they had finished 90% of the works on the property.
The main issue the borrower had was timing as they needed to ensure that they had funds to complete the purchase of this other property which they were contracted to buy by an agreed closing date.
Onate issued an approval in principle within 24 hours and the borrower signed and returned this with our due diligence fee. We moved quickly in order to ensure that the valuation was completed and the legal due diligence commenced to review the title of the property being offered as security. Despite the tight deadline, we were able to ensure that the borrower's solicitors were in funds within 10 days of engagement by the borrower.
Onate provided a facility of €1M in order to allow the borrower to purchase their next property. The new build property that Onate took as security was valued at €1.45M and is currently on the market in order to clear the facility in full. We were also able to provide an element of interest roll up to assist the borrower as the property is being sold with vacant possession.
“Onate delivered for our client under a very tight timeline and they were a pleasure to deal with throughout. Closing within 10 days from initial enquiry is extremely difficult in today’s funding environment but the team went above and beyond to ensure the client could close the transaction with confidence.
Managing to run legals, valuation & due diligence in tandem was testament to not just the lender but also the third parties involved and I wouldn’t hesitate in recommending Onate to any potential borrower or broker”
In The Media: Sunday Independent
Onate was featured in the most recent edition of the Sunday Independent. Our CEO Dan Gandesha spoke to Samantha McCaughren about Onate’s new funding line and deals to date.
Read the article on independent.ie here.
Team Tuesday: Meet our Underwriting Director, Hugh Lyons
Where did you begin your career?
“My first job was packing bags in Tesco as a 15-year-old during a summer, but my career started in the legal services department of ACC Bank back in 2007.”
What is the best career advice you’ve ever been given?
“It’s a cliché, but ‘The Golden Rule’ is something that has always stuck with me - treat others as you would want to be treated.”
What tips would you give to someone starting in your profession?
“Apart from the above, I’d advise people to always look to take on as much responsibility as they can handle and not to wait for responsibility to be handed to you.
Also, make as many strong connections as you can. This industry is largely about relationships so aim to be having at least one coffee a week with a potential new contact, while not ignoring your existing contact base.”
What is your greatest professional achievement to date?
“Again, a bit of a cliché but my role with Onate since the middle of 2021 gives me an enormous sense of pride.
Helping to build a loan book and Onate’s reputation as a leader in the bridging finance market has been extremely rewarding.”
Tell us something people may not know about you
“Nothing! I’m an open book.”
The Seamless Speedy Process That’s Now Available When Buying a Property
It’s never been straightforward buying property, or at least, that’s all we hear.
You can buy a car or book a holiday online. Banking can be done online. In Ireland, you couldn’t buy a house online pre 2019. But over the last few years, a number of businesses - some small and Irish owned, are changing the way when it comes to purchasing property. From a completely pedestrian and physical market, we’re now seeing a digital revolution. Now, Onate and Offr, two Irish-founded businesses and leaders in their respective fields and are bringing new creative thinking to the market, speeding up the process and adding transparency.
At Onate, we work with borrowers who are purchasing residential investment properties that may be in need of some refurbishment prior to being rented out or placed on the market.
These borrowers see opportunities in buying and refurbishing properties, and by implementing their value-add strategies, they provide essential accommodation for the market. We can look at proposals that traditional banks shy away from. Borrowers want loans at speed and we’re able to give a quick yes or no within 24 hours. Decision making happens in-house and we have completed deals in under five days for residential, mixed use and commercial properties. We deliver fast and flexible finance from €250k up to €4 million.
That is on our side of the deal. Now, through partnering with Offr, the next step of the process is simplified too. Since they entered the market, Offr has shaken up the buying and selling of property, removing months of hassle at just a single tap. The technology platform which helps estate agents reduce the amount of time it takes to buy or sell a property, automates 90% of the process and communications. Buyers can now use their phone to quickly register, see offers, make offers, sign contracts and pay deposits. Partnering with Onate means buyers can access a mortgage at the tap of button a while registering.
The process is faster than it was previously while is also more transparent for everyone involved. The online platform allows for all documents to be uploaded within a matter of seconds, giving precious time back to agents, solicitors, buyers and sellers, and allowing more time for productivity. Interestingly, 42% of the last 25,000 offers made through Offr have been in the evenings and at weekends, outside office hours, making the service accessible 24 hours a day.
Previously, before buying and selling property became digitised, it took approximately seven months from listing to completion. Now it’s roughly three months. Securing a mortgage and property digitally has sped up the process and now you can go to sale agreed in a matter of minutes. The platform is a new, fresh, fast and transparent way of doing things. Even contracts are signed online.
Onate and Offr work fully remote meaning you can avail of their services if you’re based anywhere in Ireland. So if you’re looking for a speedy, seamless process when purchasing a property using the Offr platform and are in need of a loan, Onate is here to help.
The demand for housing is higher than ever before. A recent report from Daft.ie has shown that house prices rose by 3.8% on average during the second quarter of 2022, with the average listed price increasing to €311,874. This is up almost 10% on the same period in 2021.
Updated figures from the Residential Tenancies Board (RTB) have shown an increase of 1,068 landlords serving notices to quit the rental market, bringing the number to almost 3,000 notices to quit issued between January and the end of June this year. Most landlords are exiting the market because they want to sell their properties.
This is down to various reasons such as the level of taxation, their properties needing upgrades, issues with problem tenants or being vacant with no rent coming in or they’re simply tired.
With demand for housing increasing, it has never been more important to be able to act quickly and efficiently in securing a property. Let the cumbersome, lengthy processes be a thing of the past and let Onate and Offr help you every step of the way.
This article has been written in collaboration with Robert Hoban, CEO of Offr.
If you have any further queries or to see how our lending process works, visit www.onate.com
In The Media -Bridging Loan Directory
Our Lending Director John Ring analyses the Irish residential property market in an article on the Bridging Loan Directory.
Read the full piece here - https://bridgingloandirectory.co.uk/opinion/the-irish-residential-property-market/
Case Study: Bridging Finance of €600,000 Provided in Dublin
Several properties in need of light refurbishment
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Onate provided bridging loans of €600,000
In early 2021, a financial advisor introduced us to a borrower who was looking to build up a portfolio of residential assets in Dublin.
The borrower had identified a number of properties in the Dublin area that were in need of light refurbishment and he felt that he could add value by completing some minor repairs and modernising the units. Before approaching Onate, the borrower had already lined up an exit with a fund who were looking to acquire properties in turn key condition.
The borrower was already working in construction and his experience allowed him to quickly identify suitable properties that he could add value to. His background in completing refurbishments for other clients helped him to accurately forecast the time and the cost that would be involved in the project.
Onate stepped in and provided the initial bridging finance loan of €150,000. The vendor of the property was keen for a quick sale, and this allowed the borrower to purchase the property at what he believed was a discount on the market value.
As this had worked so well, the borrower subsequently completed a further three loans with Onate. These have now all been repaid. The quick decision making followed by Onate quickly closing the transaction gave the borrower the confidence to keep Onate as his preferred lender and ensure that he can now quickly purchase any property that he identifies.
In The Media: Onate’s John Ring in IPAV’s Property Professional Magazine
Onate’s Lending Director John Ring is featured in the latest Property Professional Magazine from IPAV (The Institute of Professional Auctioneers and Valuers).
Read John’s article on page 18 here
Team Tuesday: Meet our Lending Manager, Michael Gavin
Where did you begin your career?
“I began my career in Pepper Asset Services as a relationship manager in the Commercial Real Estate Team in Shannon. I was extremely lucky to end up on that team as I had some great mentors and colleagues who helped me succeed and gave me the opportunities to move forward in my career.
Interestingly, I was supposed to interview for a different role that day but as luck would have it the Australian manager for The Commercial Real Estate Team was down in Shannon that day and he decided to take that interview and subsequently hired me.
My career could have been very different if it wasn’t due to that lucky timing!”
What is the best career advice you’ve ever been given?
“There is one piece of advice from my first boss that has really stuck with me:
’Don’t get too disappointed if something doesn’t go your way and don’t get too excited when something is going your way’
When I started out in my career, I lost out on a deal that I had thought was a certainty and I was given this advice.
I’ve learned that it’s important not to let things outside your control affect you too much. If you keep working hard eventually things will work out”
What tips would you give to someone starting in your profession?
“The most important thing you can do when you are starting in a business development role, or any role, is to network.
Over the past eight years I have built up strong personal and professional relationships. When someone asks me for help, I help however I can.
If you have a reputation as someone that will go above and beyond for people it makes the job that little bit easier”
What is your greatest professional achievement to date?
“I wouldn’t say that I have one achievement that stands out. I am very happy to be in the role that I am in today and to get to this position I set myself smaller targets that I have met along the way.
I have always wanted to get into property lending and I was lucky to have been given the opportunity to start my lending career with a great team in First Citizen who gave me the opportunity to learn, originate deals, and to build my network.
It is a really good work environment here at Onate with excellent colleagues who are always there to help with questions or to assist to get that urgent deal over the line”
Tell us something people may not know about you
“In Thailand a few years ago I competed (against my better judgement) in a Thai Boxing exhibition.
At the end of the short fight my hand was raised as the winner and although many around me weren’t convinced that I did enough to win I have claimed this as a victory and will retire undefeated like Floyd Mayweather and Tyson Fury!”