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The future looks bright

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  • 17/09/2001
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Challenging but rewarding times ahead

Mortgage Solutions has spent the early half of September on the road, hosting a series of roadshows across the country specifically targeted at mortgage intermediaries.

The overriding message of these roadshows was a positive one ‘ that despite difficult times ahead, the future of the intermediary channel is secure.

Speakers at the events addressed the various challenges facing the industry as a whole and in particular their impact on mortgage intermediaries. Regulation, for example, much-feared throughout the industry, could in fact increase the flow of business through advisers’ doors, it was suggested. Rather than putting the power into the hands of the consumer and encouraging them to go direct, the increased amount of information lenders and brokers will be required to provide under new regulation will lead to more confusion and hence will translate into a greater need for impartial advice. Heightened demand for technology to help intermediaries cope with this additional paperwork should also help to push the cost of broker systems down.

The impact of economic slowdown, both in the UK and globally, was also dismissed as having little negative impact on the market, nor indeed, on the intermediary channel. Despite the recessionary bite being felt by some sectors of the UK economy, and the turmoil being experienced across the pond, the UK housing and mortgage markets should hold their own, it was argued. And if these markets do begin to feel the pinch, intermediaries can still take comfort from the fact that certain niche areas of the market such as buy-to-let and sub prime ‘ sectors which many will already be active in ‘ rather than being adversely affected by recession, actually tend to do rather well.

It was also pleasing to see such good attendance at the roadshows, with most venues at or exceeding full capacity. This is a clear sign that there are a great many brokers out there who will not be put off by the challenges that lie ahead and that remain committed to providing professional high quality advice.

Mortgage Solutions is also demonstrating its commitment to the intermediary market and to providing its readers with up-to-date, relevant and incisive information. From 15 October we are taking the magazine fortnightly and giving it a fresh new look.

The move comes in response to sustained upward activity in the market, which continues to develop new products and services at a rapid rate, accompanied by demand from intermediaries for more information. We also recognise that in the light of increased regulation of the mortgage industry, the need for information on how it is likely to affect your business and solutions to ease the burden, is set to grow. Mortgage Solutions will endeavour to provide you with all the material you need to help you survive and prosper in what will be an increasingly difficult market.

We also aim to constantly review the content of the magazine so it is as useful and relevant to its readers as possible. We would therefore welcome your comments on the magazine to ensure it exactly meets your needs going forward.

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