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Why become a mortgage broker
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£11,860.00 needed = £1,106 in savings
You are nothing but a troublemaker as far as I can see it.
You could of quite easily pm'd kenshaz and asked him to remove the post or the mods if he had refused and then kept quiet and let this post run its course. But no you have to make a public scene, show who has the biggest you know what and try to boost your ego. I don't think I could blame Kenshaz for any response he may make to your actions because you are clearly out for him. Don't think for one moment by being like this you are getting respect for it.
If you have reported something to the mods ,why are you continuing your threats.
I would also like to inform you that the threats that you are making on behalf of some-one else are abusive and unsubstantiated.
I have decided to listen to Homer-j and other advisers who have suggested that continuing in a similar vein is unproductive and I therefore decided not to comment further on this subject .
This is an excellent point.
The job of a mortgage broker has now become so difficult with regards to compliance and and paperwork that anyone that has not moved on to electronic trading will find that they can only produce so many cases a week and that's it.
After which they then have to employ expensive back up administrators.
Roll on the mortgages common trading platform and then we can comfortably write two mortgage cases a day, plus protection.
JoeK
That's good news and I can't beleive the ratio of advisers to administrators being so low.
Does your company submit cases electronically?
Looking at it from my perspective, 200pm cases divided by 30 advisers = 3 cases each per month, each.
Is that good?
JoeK
Halifax Loan - £3300, Capital Card - £500
Total owing = £6220
Debt Free on 01/10/2008 :j
The ticket booking side of travel agency went like this:
- Third party online sales introduced
- Proc fees reduced
- Own web systems introduced
- Proc fees reduced further for web sales
- Proc fees eliminated for some sales by some airlines
- Charges for non-web bookings by consumers introduced by some providers
Basically, as the providers' own systems matured they edged out many of the people in the middle and favored their own systems.In the mortgage business there's some real incentive to remove brokers to get higher customer loyalty (more likely to stay on SVR than if using a broker) and more control of the relationship long term.
Lots of travel agents went for the business pay the agent to save time and money market. I wasn't tracking closely enough to know how that turned out for them. Worth a chat or two with long-established travel agents to see how they survived the transitions. My guess is lots of value add and add-on product sales.
Wait for the time when all the major suppliers have excellent home-grown web systems in place to handle the mortgage work, including price-matching electronic "surveys" so they can offer immediately (not just AIP) on lower LTV business and get the sale sown up themselves, with a major change of property condition get-out clause.
Sub-prime looks more interesting, until I take a look at the lender systems which select the products the client qualifies for from their whole range. What's lacking there is any obligation to present the best product if the client was using this direct, so brokers still have a role in identifying deliberately sub-optimal lender recommendations. Give third parties the information to do this, including unreported credit check, with the requirement to provide best offer, and life gets interesting.
The unreported credit check is also a requirement for greater liquidity in the loans market, since the lack of it discourages consumer shopping around.
We have to do this:
Check the clients status, i.e. passport, check that what they tell us is true, every client is different so have to listen to clients needs, requirements and also how they want to plan their future plans, sourcing of the right product and lender, calling up lenders if they are willing to lend on that type of proeprty or the type of client.
checking their documents, money laundering checks, taking their many details down into a factfind, entering the details into multiple lenders web sites factfinds if the original choice is unwilling to lend. then chasing the application through the lender to the surveyor and the client plus solicitor. Call to the lenders underwriter to find out if there are any holdups and why. Chasing surveyor and clients, RTB = chasing the councils to move quicker.
presenting/explaining the offerletter to the client.
then its just basic chasing. maybe also some protection sales and chasing of those as well. packaging the whole lot of docs to send to the lender.
Adverse lending or type of property can mean a lot of calls to lenders underwriters to reconfirm if they will lend.
So there is a lot more than just filling out a form and sending it in.
That's fantastic feedback and I thank you for it.
Lenders are already starting the ball rolling as we have encountered recently.
Northern Rock have approached clients introduced to them and re-written the mortgage case and life insurance that we arranged.
Further to this Bristol & West have just done something similar.
We have reported NR to the FSA for taking the client out of whole of market to tied.
We are awaiting the results.
JoeK