Therefore, throughout the year, there will be a rich pool of borrowers looking to secure a new deal and various opportunities for intermediaries to provide the tailored advice and expertise clients need.
When presented with surges in demand, be it on a seasonal basis or in line with wider market fluctuations, being prepared to service a growing number of customers is crucial.
There are steps which intermediaries can take now, which will not only ensure they are able to meet this demand, but which will deliver business-wide improvements all year-round.
Assessing business performance
Intermediaries can prepare themselves for higher volumes of work by evaluating how well their business is performing. Customer acquisition, resourcing and staffing, back-office processes and overall efficiency are some areas of the business which will be relied upon during busier times.
Assessing business performance ahead of the busy season will allow intermediaries to improve any of these key components if necessary, so that they are well-equipped to handle customer demand.
Efficiently managing back books
Keeping up with your customer base and being able to spot upcoming opportunities, such as a surge in fixed rate maturities, will give intermediaries the edge above the competition. In order to track clients’ products and know when is best to get in touch, intermediaries need to have an efficient system in place.
By maintaining and managing their customer back books, intermediaries can position themselves front and centre of their clients when they need a new mortgage deal.
Nurturing customer relationships
Building long-term relationships with clients goes hand in hand with managing client back books.
Creating strong connections with existing clients by staying in contact around key life events, such as birthdays, or providing clients with up to date market news and developments will be key to securing repeat business when opportunities arise.
This also means that when customers are ready to choose a new product, intermediaries will better understand their needs and circumstances, and will be able to offer personalised advice and a high-quality service.
Staying up to date with the market
In today’s turbulent market, staying up to date with changes will enable intermediaries to prepare for increased activity.
By being well-informed about the mortgage market, intermediaries will also be able to offer the most relevant and targeted mortgage and financial advice to individual clients without delays, and without the best deals slipping through the cracks.
Additionally, intermediaries can maximise the value they provide to customers by engaging with lenders to inform themselves of product availability and alterations. Maintaining contact with lenders and being well-informed about the shifting market will allow intermediaries to prepare for an increase in customer demand early.
This is the perfect time for intermediaries to take advantage of a rise in fixed-rate mortgage expiries, as well as future-proofing their businesses for any potential surges in customer demand.
Conducting a business health check, managing back books efficiently and keeping up with the mortgage market will help intermediaries prepare for yet another busy period.
