One to One: Sarah Stroud, Truffle Specialist Finance
Each month, Mortgage Solutions and Specialist Lending Solutions sit down with a key intermediary industry figure to discuss strategy, the opportunity for brokers and the mortgage marketplace.
This month features Sarah Stroud, director at Truffle Specialist Finance.
How did you get into the mortgage industry?
My Nana once said to me, if you want to do well in life, you either join a bank or become a lawyer, and so I chose a bank. This is where my love for financial services first began. My first role was at The Woolwich Building Society back in 1993 and I have held various roles within the industry over the years, first charge mortgage broker, mortgage underwriter, compliance, to name a few, before joining Truffle Specialist Finance (formerly Pink Pig Loans) in May 2013.
You have been at Truffle Specialist Finance since 2013. What do you think have been most significant changes in the mortgage market since?
I’ve seen so many changes over the last 13 years which includes changes in regulation, Covid-19 pandemic, massive rate rises as well a historically low base rate, war conflicts, cost of living crisis, all of which have significantly changed the landscape of the industry. For me personally, the most significant change was our industry becoming regulated in 2016 which removed the historic stigma of secured loans under the old Consumer Credit regime. I do feel that, with the changes, a different mindset came from brokers that the second charge offering does have a prominent place within our industry, which has allowed the industry to grow significantly.
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As we move closer to 2027, where do you see opportunities in the coming year? Are there any areas that you want to expand into?
Mortgage lenders are always looking for ways to improve criteria, products and their technology platforms, so it will be interesting to see what 2027 brings. For ourselves, we have made real progress within the bridging market and with our successes, we are looking to grow the team and ensure we continue to offer a full suite of products to our brokers.
What has been key to maintaining your relationships with brokers?
Trust and communication are essential to any relationship. Brokers are trusting us with their clients and we need to deliver with service, always ensuring brokers are kept up to date. Simple things like returning calls, responding to emails in a timely manner, updating the broker before the client, so they are always informed of the application progress. Brokers are the backbone of our business and without them we cannot grow. Be generous with your time chatting with them, understand their business, how do they get their clients, can we help with any marketing material, educate them on the second charge industry, provide them with the tools to have a confident conversation with their clients about an alternative to a remortgage or further advance.
Technology is a big topic of conversation in the mortgage market. What is Truffle Specialist Finance’s strategy around technology, and where do you think the greatest efficiencies can be found?
Technology is changing the specialist lending market, but we believe the greatest value comes from improving speed, accuracy and the overall customer journey, rather than replacing people.
At Truffle Specialist Finance, our focus is on using technology to remove unnecessary admin, streamline processes and give brokers quicker access to lending decisions. This includes enhancing broker submission processes, improving data capture, integrating with sourcing and lender platforms where possible, and utilising digital document collection and verification tools to reduce turnaround times.
We believe the biggest efficiencies can be found in three key areas:
- Data gathering and fact finding
- Packaging and underwriting
- Customer communication
Ultimately, our strategy is to embrace technology where it genuinely improves the broker and customer experience, allowing our team to focus on what adds the most value: delivering solutions for clients and supporting our introducers.
What has been the biggest lesson learnt over your career?
Reliability is key and the biggest lesson I’ve learnt over the years. Brokers need to know you’re there for them. I’ve maintained some of the same accounts since I first entered the sales team in 2014 which is a huge personal accomplishment. This I believe is down to how you are with your brokers, and I would use the same phrase that brokers need to feel valued. I like nothing better than dealing with a new broker, watching the account grow and helping them grow their business.
What do you want the mortgage market to know about Truffle Specialist Finance?
I want to shout from the rooftops about the incredible team at Truffle.
We have just celebrated our 20th birthday and we looked back on just how much we have achieved as a team. We’ve weathered economic uncertainty, market shifts, and countless challenges over the years, yet the one thing that has never changed is our commitment to delivering outstanding service.
Every single member of the team works tirelessly to provide the very best experience for our brokers, building relationships based on trust, consistency and expertise. It is this dedication that has enabled us to retain brokers, grow our business, and reach this remarkable milestone.
The loyalty of our brokers is something we never take for granted, and it’s a direct reflection of the relationships our team builds every day.
We have just been nominated for three awards at the forthcoming National Mortgage Awards to be held next month and this is a huge achievement in such a strong industry.
