Mortgage clubs push lenders to raise their game – LendInvest

by: Ian Boden, sales director, LendInvest
  • 11/02/2020
  • 0
Mortgage clubs push lenders to raise their game – LendInvest
As any lender with significant funding knows only too well, designing compelling mortgage deals is rarely going to be enough to reach the volumes you want.

 

Lenders also need to put real thought into the best way to distribute those deals, the smartest ways to get your products in front of as many quality brokers as you possibly can.

Part of that comes through building a comprehensive team of business development managers (BDM), and that’s one area that has received a lot of focus within the company over the last 12 months.

 

Distribution expertise

But if you want to increase your reach more significantly, you need to tap into the distribution expertise offered by the big mortgage clubs and networks.

Over recent months, we have partnered with a succession of the industry’s biggest mortgage clubs, with further tie-ups still to be announced.

Alongside this, we have promoted Andy Virgo to the new role of head of key accounts, handling the day-to-day running of our relationships with these key distributors.

Having previously been a broker, as well as a BDM for us, Andy is uniquely placed to champion the benefits of mortgage clubs. He’s seen first hand just why they can be so valuable to intermediaries across the country.

Mortgage clubs offer substantial benefits to all sorts of brokers, beyond simply access to a wide range of diverse mortgage lenders and products.

So many intermediaries turn to clubs because of the other services they provide, from compliance assistance to marketing support. They are far more than simply a way to connect brokers and lenders, and it’s vital that lenders who want to work with them recognise the auxiliary features they provide intermediaries which are so valued.

 

Raising the game

It’s also worth remembering that just as working with the top mortgage clubs can help lenders extend their reach, it should also push us to raise our game.

We have seen up close just how stringent the due diligence conducted by clubs on prospective lender panel members is. They want to make sure that any lenders they add to their panels are delivering not just competitive products, but also a quality service and experience to their member brokers and their clients.

It’s been encouraging for us to come through those assessments, providing a real stamp of approval that we conduct our business in the right way.

But as always with the mortgage industry, standing still is as good as going backwards. Just making it onto a panel means nothing if you can’t deliver the innovative in building products that intermediaries and borrowers really need.

 

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