Published on 1st February 2025

Victor Jannels, Chairman of Impact Specialist Finance, has received a lifetime achievement award for his work in the mortgages industry. Having founded the Horsham-based business in 1991, Vic and his wife Sheila now run Impact alongside sons Dale and Neal, who have spearheaded the development of innovative mortgage-based software that has created exciting new opportunities. AAH met Vic, Dale and Neal to find out more…

Vic: This is my 53rd year in the mortgage industry. I started working at Provincial Building Society in Birmingham in 1972, becoming a branch manager in Coventry and City London. After moving to Horsham, I was head-hunted by Citibank to help run their mortgage business. Previously, I was a technician in the RAF, so had no knowledge of mortgages and had to learn fast in very different but no less challenging times. We bought a three-bedroom Victorian house in the Midlands for £2,500, at a time when interest rates often hit 15%. I dread to think what the property’s worth today! 

Vic: I founded AToM (All Types of Mortgages) in 1991 together with Sheila, running the business from home for two years. We established a reputation for resolving complex mortgages, which High Street lenders couldn’t cater for, and after 17 years changed the name to Impact Specialist Finance. Our sons, Dale and Neal, joined the family business, bringing their own skills. They have ensured that Impact has continued to adapt to an ever-changing market. There have been purple patches and tough times too, especially during recessions at the end of the 1980s and the credit crunch of 2008, when – like many businesses – we had to reduce our workforce.  

Dale: There are two main strands to our mortgages business. Firstly, we work with mortgage brokers around the UK, which is known in the industry as ‘packaging’. Typically, this involves a broker with their client coming to us for a lender offering competitive mortgage rates that are available exclusively to companies like ours. We give these brokers advice and recommendations, and also handle the administrative aspects of the mortgage application too. The second tranche of our mortgages business is direct to consumer. Clients can come to us directly for exclusive mortgage products at interest rates that are often more competitive than what they will find online or from High Street lenders.  

Vic: While we operate nationally, we retain a significant number of local clients. They might not need us every year, if they have long-term, fixed rate mortgages, but we look after them when they need to renew. Some clients have moved away from the area but still come to us, and we receive a lot of business through recommendations. You are only as good as your last client, so you have to find the best deal for everyone. If you look after your clients, they will return and recommend you to their family and friends. 

Dale: The value of the mortgages market will be worth around £230b this year, 20% below pre-Covid levels. As everyone knows, interest rates rocketed after the disastrous budget of Liz Truss’s government. Consequently, homeowners with fixed rate deals of around 1.5% that were coming to an end had to switch to deals of about 5.5%, with much higher monthly payments. Thankfully, rates are slowly coming down and we anticipate further cuts in the Bank of England base rate this year. That doesn’t necessarily mean interest rates offered by lenders will come down proportionately, as there may be other inhibiting factors, and one of our jobs is to explain this process to clients and seek out the best options. 

Vic: The mortgages market is constantly fluctuating and it’s not as buoyant as it was before the pandemic. Sometimes, products come on to the market for a very short period of time and we might only have a few hours in which to complete an application. As a result of Covid, many mortgage applications have specialist requirements, as clients might have been furloughed or made redundant and their financial circumstances have changed. However, we have vast experience of working with lenders who cater for individual needs and complex cases.  

Dale: It is very easy to renew your mortgage with your current lender, as it only takes a click of a button. However, a computer doesn’t take the time to discover the full picture. What are you going to be doing in five years’ time? Are you planning to have children? Will you need a bigger house? Are you nearing retirement? With this in mind, it’s always best to speak to a professional to find the best deal. People shouldn’t feel obliged to show loyalty to their original mortgage lender when there may be better alternatives available through brokers who can access tens of thousands of products.  

Neal: Since 2017, we have built another arm to the business. We were searching for a software system to make it easier to source mortgage products and compile applications for our clients. There was little available, so we developed our own Cloud-based software called One Mortgage System (OMS). It proved very efficient, simplifying the entire process and putting an end to the days of imputing a client’s data numerous times. Naturally, our competitors wanted access to OMS as well and our initial response was to protect it. However, we realised it was a fantastic business opportunity and instead worked with brokers. Today, OMS is used by 2600 brokers and handles about £1.5b of mortgage transactions a month. We expect to manage mortgages worth £18b this year and anticipate that this figure will double next year. 

Vic: It was the boys who recognised this gap in the market and designed a seamless system to fill it. OMS attracted interest as it solved many problems, and is now a major part of our business. Initially, the software was designed for brokers, but in recent times some lenders still working with outdated legacy systems have enquired about it too. So, we have adapted the software for lenders. We have attained ISO 27 001 certification, the benchmark for cyber security in the UK, and this has helped attract major lenders.

Vic: Impact has survived by adapting to change. When we opened the Carfax office, we welcomed people off the street and opened-up a new stream of business, making us less reliant on broker-to-broker mortgages. During Covid, that business was largely curtailed, so we moved operations into our current site at Barttelot Road. By this point, OMS was growing rapidly, as most brokers were working from home and needed a Cloud-based platform that could be accessed from anywhere. As terrible as the pandemic was, it helped us to realise the potential of OMS and that in turn has helped us go from strength to strength. 

Vic: Last month, I was honoured with the Lifetime Achievement Award from Mortgage Introducing, a leading industry publication. The award was predominantly in recognition for work I have done for the Bridging & Development Lenders Association (BDLA), which looks after the interests of lenders in the short-term mortgages sector. I represent 44 lenders and 48 associated firms, which together represent nearly 10 million mortgages, so it’s a significant slice of business. I ought to be at home with my feet up and I’m sure the boys sometimes wish I was! But even after all these years, I still get a buzz from the job. 

Vic: I’m proud that Impact has remained an independent, family business and that we all contribute in different ways. I run BDLA aspects and help Dale with Impact’s mortgage clients, while Neal runs the OMS operations. Sheila overseas the finance department at Impact while Neal’s wife Carolyn does likewise for OMS. It is a mini dynasty and eventually the time will come when Sheila and I step aside and the major decisions will be solely up to our sons. I have no doubt that they will continue to take the business forward. After all, they make most of the decisions already!

WORDS: Ben Morris / PHOTOS: Alan Wright

For more information visit www.impactsf.co.uk