What’s Your Intermediary Strategy?
With the wider mortgage lending market in good health, it’s an extremely good time for the intermediary market. Since 2012, the share of loans by value arranged by intermediaries has been rising steadily, and 2016 saw reports that as many as four in every five mortgages were being arranged through a broker.
Some consumers will sometimes still want to stick with the bank that provides their other finance products, but I think we’ve reached a point where the majority of people seeking mortgages are aware of the clear benefits of working with brokers – with the whole of market approach they can find the best deal for the buyer’s specific situation, and it gives the consumer a knowledgeable guide to help them through the often complex multi-stage process. I think working with intermediaries can be advantageous for lenders too . It makes it much easier for them to regulate their flow of applications, and more importantly, after pre-screening a good intermediary will know which customers will be successful with which lenders, saving them a huge amount of time by only submitting applications to them that have a good chance of succeeding.
We’ve seen the benefits of this increased activity with a huge number of our clients wanting to bolster out their intermediary business development teams to capitalise on the market. Over the last four years we’ve established a strong candidate pool of professionals who are experts in the intermediary market who have a wealth of knowledge around the industry as well as strong, well established introducer networks. I’ve worked closely on a number of these campaigns recently and would love to hear from you on your plans for growth in the intermediary market.
Kind Consultancy can work with you from an initial resource review, through market mapping to finding a suitable addition to your BDM team – whether you’re expanding an Intermediary division with a strong footprint in the marketplace, or are just now considering moving into that space. On the other side, if you’re a Business Development Manager with Intermediary experience seeking career advancement, get in touch for a confidential conversation. Talk to us on info@kindconsultancy.com or call 01216432100.
