Mortgage Quest: from a single room to a multi-brand business

When my firstborn entered the world, I decided to give up an international business career to spend more time in the UK with my young family.

My first step was to earn my CeMap qualification and get full authorisation for Mortgage Quest Ltd. Thereafter, I took a role as a mortgage advisor with my brother’s accountancy firm in London in January 2004.

However, it didn’t take long there for me to realise what a rough ride my brother’s contractor clients got, beyond dealing with the taxman.

Going for bold!

Recognising I could help professional contractors in other ways, I went bold!

I realised lenders needed to change their underwriting criteria to view contractors’ income differently. My goal was to get the lenders to recognise a contractor’s day rate to calculate affordability. That sounds easy in principle, but it was a long, hard slog in the beginning.

So, Mortgage Quest’s early days were fraught; I navigated:

• initial resistance to this concept (which would become contract-based underwriting) from lenders;
• the global financial crisis;
• dwindling contractor benefits;
• and, recently, the pandemic.

But, coming out stronger on the other side, Mortgage Quest is now better placed than ever. We now open our arms not just to self-employed workers, but to all types of workers to secure the best mortgage deals for their circumstances.

It’s a family affair

It’s no coincidence that having a family bond cementing the company has helped ride the waves. My wife, Samantha and sons George and Jason all play critical roles within the business.

And it’s not just my own family with generational ties here. There are husbands and wives who are mortgage brokers, a husband who’s a mortgage broker and his wife who’s an administrator. There is also a father and son, so it’s really like one big, huge family here.

My recent interview with Mortgage Solutions delves deeper into other familial pillars that support Mortgage Quest and its subsidiary brands.

Read the full story of how Mortgage Quest got to where it is today and our plans for an inclusive future…

Author: John Yerou

John Yerou is the owner and founder of the award-winning Mortgage Quest Ltd and its subsidiary brands.

In 2004, John began his career in financial services as an independent mortgage advisor and broker. He's since been instrumental in negotiating bespoke mortgage underwriting criteria for professional contractors with many high street lenders.

As such, John's one of the most respected and recognisable names in securing mortgages for the UK's flexible workforce, incorporating independent professionals and the self-employed.

His recognition as the go-to mortgage expert has grown exponentially, reflected in citations and his own publications in both national and contractor-oriented press.

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