The changes brokers need to implement post-MMR – Nationwide
As ever Andrew raises standard of the debate. The issues raised will impact even more on direct sales as most good brokers are in this space already.
The linear automated processes in most lenders will need most tweaking, but brokers will need to ensure their fact finding is robust to match their rationale for recommendation.
Robert Sinclair
20 Nov 2012 | 16:05
Beware buyers promising quick sales, FSA warns struggling sellers
Sorry; am I reading this correctly. The FSA is implying that the seller is committing fraud when there is actually no financial gain.
Surely it is the solicitors’ responsibility to establish contract price and it is the solicitor’s responsibility to notify the lender of any gifted or discounted pricing.
It is then the valuer’s responsibility also to notify the lender of discrepancies. The buyer can state what they like but it lies fully at the solicitor’s door to disclose incentives and discounts.
The FSA should be reminding solicitors of the consequences of non-disclosure not sellers – but I think they might be punching above their weight in respect of the law society!!
Pointed
20 Nov 2012 | 17:37
Marketwatch: Are lenders’ demands putting off brokers?
I find it baffling that all of these comments seem to side with the lenders. On the ground, it is a much different story, where lenders such as Accord, Virgin Money and Abbey, to name just three, seem determined to find reasons to decline vanilla cases and we can forget it if there are any complications.
For a limited company, or a mortgage with an interest-only element, we have to be very cautious indeed.
There are definitely lenders to be avoided if the mortgage is time-sensitive, as one of your contributors states, but it does take a real leap of faith to put a case to some of them.
Stuart Duncan
21 Nov 2012 | 13:51
Barclays’ David Finlay elected IMLA chairman
Although I’m retiring and although Woolwich’s systems haven’t always been brokers favourites, I spoke to him at a couple of meetings and when he spoke both one to one and at the front, he seemed refreshingly short of the b…s so common in this industry. I wish him well for brokers’ sakes.
Des Platt
22 Nov 2012 | 14:45
7,000 brokers hit as Google closes Finance Leads Online
I buy leads, and have been doing for 4 years. It’s the best source of business, and it works. However it doesn’t work like you would expect it to.
You need to be in the business for long enough and buy leads for long enough to realise how the system works. You can’t expect benefits straightaway.
Sajj Mahmood
21 Nov 2012 | 12:51
My final assessment on the productivity of FLO leads was that it was three times more productive to ring clients and guide the conversation to referrals.
MarkG
21 Nov 2012 | 13:27
Thank you for your comments this week
