Page 11 - The Pulse July 18

CONTRIBUTORS Recently we’ve seen an increasing number of products 500,000), there is a real opportunity here and it is often
targeting first-time buyers and home movers looking
neglected. A lot of the time, assumptions are made that
to purchase new builds and right to buys, plus a flurry the customers are not moving property so they already
of remortgage products with heavily reduced fees. The have cover in place. But is the cover correct for their
market is feeling positive to finally get Britain moving, needs? Do they even have cover in place?
however in sharp contrast, according to figures released
by Nationwide Building Society, house prices dipped in What are the winning strategies your top
May 2018, a third fall in four months.
Introducers use to generate new business and
Economists blame the decline on the country being rocked grow their customer base?
by economic volatility as Brexit slowly draws closer. Some
could argue that inflation versus household income is Louisa Sedgwick, Vida Homeloans: They embrace
at breaking point and even though the Government has change and new technology whilst focusing on the
Carl Stacey slashed Stamp Duty fees to support first-time buyers more customer’s needs. Some brokers have taken to specialising
come be done to reduce the costs for home movers. in particular areas such as lending to older borrowers,
Head of Key Accounts impaired credit or self-employed customers. All of them
To help Mortgage Brokers expand their business in 2018, passionately believe that if a customer can afford a
we’ve asked industry experts for their opinions on the mortgage, then they will get one; never give up!
most successful tried and tested strategies Mortgage
Brokers should use to attract new customers and retain Emma Hall, GWlegal: It’s all about that database (pop
their customer base. music pun absolutely intended!) Ensuring your client
database is accurate with up-to-date contact details
and that those clients are regularly contacted, cross-
Where to Find New Customers promoted to and encouraged to recommend their friends
is invaluable. At GWlegal, we try to create added value to
our past and former clients by sending them regular free
Where are the biggest opportunities for brokers legal advice via our Everyday Legal articles.
to grow their business in the second half of 2018?
Emma Hall Carl Stacey, Assurant: It is impossible to be an expert
Louisa Sedgwick, Vida Homeloans: Specialist lending in every single area. The most successful business writers
Head of Sales is, without doubt, a growing area. Some brokers have have a very simple process that they follow for every
seen a reduction in their income due to the growth in customer to be able to help on every product they can.
remortgaging and product transfers. This won’t change, For general insurance, this may be to quote and write the
in fact it may get worse and it cannot be relied upon as a business themselves or referring this type of business to a
steady income stream any more. But there are so many specialist, dedicated B&C writer – which could be via their
opportunities in specialist customer segments if brokers Network, a 3rd party or even having an in-house expert.
educate themselves. By having a clear process and strategy you can replicate
this all of the time and you know every single customer
Emma Hall, GWlegal: The outlook is bright for the latter will have had their protection/cover needs reviewed and
half of the year. First-time buying will likely explode, as this will inevitably lead to more business.
landlords put their desirably-located properties onto the
market. It is estimated that 380,000 properties will come Due to the popularity of review sites and ease of
up for sale, as landlords look to minimise their holdings “googling companies”, many customers take the
to make tax savings in the new taxation climate. More time to shop around before deciding on which
Louisa Sedgwick properties, at better prices, close to amenities and transport Mortgage Broker to use. What can Mortgage
links, mean FTBs are well placed to jump on the ladder.
Head of Sales - Mortgages Likewise, for the first time, FTBs are considering buy-to-let Brokers do to ensure their online presence helps
investments prior to purchasing a first home of their own, them to stand out from the crowd?
given major lenders are now granting BTL mortgages to
younger buyers. These less experienced buyers will need Louisa Sedgwick, Vida Homeloans: Don’t ignore the
your expertise. review sites; embrace them. Consider joining Trustpilot –
whilst it comes at a cost, it’s a great investment and gives
Other booming areas will be remortgage (fixed rates end customers comfort in the professionalism of the brokers
this year, so more clients may wish to lock in a better deal)
reviewed there.
SOLVE, SHOOT, SCORE! and HMO - changes to the law mean your customers will If you would rather not spend time and money on getting
need assistance in this arena too.

Industry Experts Reveal the Best Business Carl Stacey, Assurant: There will be several good reviews, then there are other free platforms which
customers might use to search for information about a
Mortgage Broker, such as social media websites. It is
opportunities for brokers and general insurance is just
Strategies for Mortgage Brokers one of those. Buildings insurance is the one product the worth ensuring you have an active social media presence
customer legally has to have so if you are doing a new
with engaging content which showcases your knowledge
mortgage or re-mortgage, this area has to be covered at and expertise.
some point so why not through you? With the anticipated
levels of re-mortgages due to take place this year (approx. Taking the time to ask those clients you have a good

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