We find out more about The Seico Group

Sussex Business Times met up with Seico Group’s COO, Michael Jacobs, this month to find more about The Seico Group.  

Michael, what does Seico do?

We are a mortgage, commercial finance and insurance business that has been running for over 30 years.

We are a great combination of large enough to be able to be whole of market and small enough to offer a really personal service to all of our customers.

What does Whole of Market mean?

We are directly regulated which means that we do not have to be part of a network for compliance purposes and therefore be restricted to a limited panel of lenders.

It means that we are big enough to attract every deal available in the market place and can therefore make sure that we provide our customers the very best terms for them.

Surely the best terms means the lowest interest rates?

Actually that is rarely completely true. Customers have such a range of individual circumstances and priorities that looking at their position in the whole is vitally important.

Maybe speed is of the essence, perhaps they are self employed and need a more specialised service or they require help on the deposit. Either way we will look at the whole situation and source the best terms available for their particular circumstances.

How do you think the market is emerging from the pandemic?

I think the market is going to be very volatile post pandemic and then facing the supply chain contraction, awful war in the Ukraine, cost of living challenge and rising interest rates. Added to that there is more demand than supply post pandemic, so house prices are going up as well.

My advice is find someone you can trust like us to help you negotiate this terrain.

Do you offer finance for businesses as well as consumers?

Yes, very much so. We have a commercial finance department headed up by Andy Page that offers Commercial Loans, Asset Finance, Invoice and Cashflow Finance, Commercial Mortgages, Leasing and HP Arrangements.

There are hundreds of commercial lenders out there, which can be very difficult if you don’t have our experience to understand which lenders are the right ones for your business and the type of finance you are looking for.

We learned from our interview with CEO Rob Starr, that Seico has recently celebrated 30 years in business and the company enjoyed a VIP 1st Class steam train journey to Cheltenham Races. Congratulations to all! Can you share any insight on the plans for the next 5 years of Seico?

5 years, blimey we plan a year ahead at most. Seico always needs to evolve and make sure it meets the demands of our clients no matter what happens in the world. Over the last 30 years we have always kept the same ethos of honesty, integrity and hard work, but we have changed how we work and what we do so many times that I have lost count.  So our plans for the next 5 years are not in our hands, we will see what happens in the world and simply react to that.  As for the next year, we are very excited to have Andy head up our commercial finance department and we look forward to engaging with many more businesses and this growing this side of Seico.

Meet Seico’s Head of Commercial Finance…

I’m very pleased to have joined SEICO Group, heading up their Commercial Finance unit. With 35 customer-facing years in High Street banking, mainly spent looking after business and commercial customers, I have served my apprenticeship in the sector and I’m now looking forward to being on the other side of the desk. 

We all know that banks have spent much of the last decade closing branches and shedding experienced staff. One serious consequence of this is that many customers struggle to receive the business advice they need and this is where a commercial broker can play a valuable role, stepping into the space vacated by the banks. I’m already speaking with customers across a number of sectors regarding their expansion plans and how best to fund them. This may be by way of commercial mortgage, funding to buy machinery, or exploring ways to improve working capital and liquidity. 

Every business owner has plans and whether that means expansion or simply consolidating the existing position, there will be a requirement for capital outlay sooner or later and this is where Seico Commercial Finance can help. 

At the moment, there is uncertainty (when hasn’t there been?) around interest rates and rising overheads, yet there are actions a business can take to provide more surety of cost when it comes to their financing. With access to the entire commercial market, Seico Commercial is well placed to help businesses find the best solution for them. 

Every business is different, I have yet to encounter two the same, or meet a business whose needs were not unique. This is why it is so important to understand the whole market. Despite the current volatility, lenders do have appetite to do business – there are well over 100 of them out there, each with their own preference and niche – and of course, cost. Finding the right one, that’s the trick. This applies not only to trading businesses but commercial property investors – as they all have unique portfolios and are usually on the lookout for the next deal – which will require funding. 

I have always enjoyed talking with people about their business and aspirations – my role with Seico allows me to continue that privilege. 

If you would like to discuss your future plans, or current situation, I will be very pleased to hear from you, I will do my level best to assist. 

For a chat over a coffee with Seico’s Commercial Mortgage Broker, Andrew Page, please call: 01273 778888 or Email: andrew@seicogroup.com