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Capitalise on remortgage clients ahead of rate rises – L&G

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  • 03/12/2013
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Capitalise on remortgage clients ahead of rate rises – L&G
Mortgage brokers have been urged to focus on the remortgage sector ahead of interest rate rises in the near future.

Jeremy Duncombe, director of Legal & General Mortgage Club, said brokers should use any quiet periods between now and January to focus on their existing client base.

“The one real opportunity that hasn’t been there in the last couple of years is the remortgage sector,” he told an audience at the Mortgage and Protection Event in Birmingham.

“Interest rates are as low as they’re going to go. We’ve seen speculation in the last few years over when interest rates may go up but that forecast is getting closer to us.

“Once they start to go up we’ve missed the opportunity because the money market rates will move ahead and there will be speculation and rates will go up.

“We are coming to a time of the year when maybe things quieten off a little bit, the back end of December and early January, and I would encourage having a strategy to work with your customers and see what opportunities are there.”

Duncombe later highlighted new build, protection, buy-to-let and recruitment as other areas advisers should focus on, with the majority of brokers in the audience predicting an increase in sales of buy-to-let products in the coming year.

“I’ve not seen so much confidence in the market for five years. That’s good news, the market is going to grow and the market share for intermediaries will grow. There is no doubt about that.”

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