Members of the Professional Advisers Alliance (PAA), are converting 37% of leads into signed-off mortgages within three months. The organisation consisting of over 1,000 mortgage intermediaries, organised regionally to handle leads from financial products website, moneysupermarket.com, is currently receiving over 500 leads per day. Moneysupermarket.com currently has around 100 website and television partners offering customers the opportunity to discuss a mortgage with an adviser.
Stuart Glendinning, marketing director at the PAA, said: ‘We are delighted with a conversion rate of nearly four in 10. It shows that although we have managed to get a far greater volume of leads we have managed to maintain the quality of those leads. These are excellent conversion rates. We know that there is another 11% on top of that figure that go to interview, so it is not far off one in two leads that go to interview.’
The PAA has also unveiled a soft launch of term assurance across moneysupermarket.com and its affiliates. Glendinning said: ‘We have now definitely begun moving away from being purely a mortgage lead generator. Term assurance is another important part of a mortgage intermediaries’ business and PAA members are already getting over 50 term assurance leads a day through moneysupermarket.com and partners. We see the PAA moving from being a mortgage leads provider into a multi-service leads provider. The model works for mortgages and there is no reason why it should not work equally well for other related products as well.’