Nick Baxter, Mortgage Promotions
The future is bright. If advisers can think slightly differently. If they provide a more rounded service, such as providing buildings and contents, and non-investment term insurance, they can get good deals for their clients and earn extra commission. I do not see why this should not generate enough income to pay any insurance premiums many-fold.
Frank Eve, Frank Eve Consulting
There is enormous pressure on the FSA to do more, by having a complete review of endowment selling as it did with pensions. It has not made a decision on this yet, but if it did it would be bad for insurers and consequently advisers. Just as important is the number of interest only mortgages sold at the moment without a supporting repayment structure. It is a problem in the making.
James Mayne, Britannic Money
This problem is going to gain more momentum. In terms of advisers, the real issue is going to be getting insurance on this. I am aware some brokers are unable to get cover, and that has to be a major concern. It is a problem for the whole industry including lenders.
Matt Russell, The Mortgage Business
It would be speculation to say what could happen in terms of complaints, but from a mortgage brokers sales perspective this is going to continue the increase in capital and interest mortgages taken. This is increasingly seen as the only prudent choice and from what I have seen recently in the press, that will only be reinforced.