I would like to express my concern regarding lead-generation companies providing adverse credit leads and commercial leads. Most of our new business comes from referrals but we started to use lead-generation companies for mortgages last year as we had another two advisers to keep busy.

Recently, we have had leads come in for people with adverse credit for which we pay more for these leads. I accept this as we know these leads can be more lucrative. The problem is that these leads have been first-time buyers with adverse credit wanting 100%-plus LTV. We know at the moment it is difficult to place adverse in the market as it is, so these are a waste of time, in my mind. I then had a lead come through for a first-time buyer wanting 110% LTV on a commercial mortgage – more chance of plaiting fog, I hear you say.

I think the lead-generation companies should have something that defaults adverse credit leads to a maximum LTV of, say, 90%, so we are not getting charged for pointless leads, and 75% for commercial.

Also the applicant would not be misinformed into thinking they can get a mortgage as easily as may be portrayed on the originating website, and therefore will not become disappointed when we tell them they need a deposit of at least 5%, 10% or 15%. Surely this would be quite simple to do and would be fairer to the person wanting advice?

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Nigel Pamment

Adviser

Inspirational Financial Management