Our research shows that having a good BDM has remained a key support to mortgage advisers’ willingness to place business with a lender over time. What we have seen change is how BDMs go about their role and the impact of this.
Personal contact with intermediaries remains central. The individual lenders have very different practices in terms of whether face-to-face or telephone contact dominates. But across the industry the wider trend is clear and that’s more telephone contact and less face-to-face contact. However, our findings suggest that this is not detrimental to the impact that a good BDM can make.
Intermediaries’ impressions of the average BDM force have strengthened over time.
While there is ample scope for further improvement, we have seen big increases in the perceived knowledge of BDMs, the extent to which they help intermediaries understand lending criteria, how easy they are to get on with and their willingness to return calls and emails.
These are now the strongest rated aspects of the average BDM force. And while other aspects score lower, there have been no areas where we have measured significant falls in the ratings of the average BDM force since 2009.
Overall, then, what we are seeing is the evolution of the BDM role towards ‘remote but accessible knowledge buddy’. Whilst the golf or pub session will doubtless survive, there is evidence in our data that many lenders are seeking, and getting, more productivity from their BDMs through this evolution.
Tony Wornell is director of BDRC Continental
