insight into the mortgage industry

Malmo

Non broker here (sorry to intrude...).

I understand from media reports, such as Martin's own BBC Consumer affairs podcast, that lenders are generally being inflexible with the rules post-MMR and this appears to have trapped a good number of existing borrowers from re-mortgaging to cheaper deals due to the closer scrutiny & oversight of the FCA over lenders.

I think that if the quality of broker service & offer success rate has improved since MMR, then that's pretty positive for the market & for borrowers?

LPH39

well at all looks quite promising from what you say but 'm not naïve enough to think it won't be a challenge to learn it all again, amazing how much you forget in 7 years. I think I'll go sit and work in a bank or building society to relearn all the regulation and brush up on my people skills then go self employed again. No doubt I'll be asking for help with more specific issues soon so thanks for the help so far

Thrugelmir

Malmo wrote: »

I understand from media reports, such as Martin's own BBC Consumer affairs podcast, that lenders are generally being inflexible with the rules post-MMR and this appears to have trapped a good number of existing borrowers from re-mortgaging to cheaper deals due to the closer scrutiny & oversight of the FCA over lenders.

Lenders are getting hit from all sides. Not just the FCA to contend with. But also the Prudential Regulatory Authority and the Bank of England. Then there's Government taxation policy such as the banking levies. Which ultimately gets passed onto the consumer. There's many indirect levers being pulled that have an impact on the front end of business and what the consumer encounters.

amnblog

LPH things are a million miles from 2006 and 2007 when it was a hot market.

Thing very carefully about trying to rebuild a career in a market so sensitive to Government policy and regulated to strangulation in many aspects.

laurasavon

I work for a lender, I'm at head office rather than being a Mortgage Advisor but I've worked in Mortgages for 12 years. I find that I get a lot of flexibility with my working hours and can work from home if needed - both are helpful with a one year old.

A lot has changed since I started work but there are still customers out there wanting Mortgages and reassurance in one of the biggest decisions they make in their life.

Let_Us_See

LPH39 wrote: »

I had the habit of absorbing my clients stress and worries.....................I now have 4 major health problems all stress related

Do you really want to be an adviser? Stress is ever present, and although an adviser must learn to manage it (or their life will be a misery), I cannot help feeling considering your past experience, you should avoid being an adviser (especially, self-employed). If you need an income perhaps seek an initial return to work with an employed mortgage administrative role with a bank, building society or IFA/broker firm. Once you have found your feet, you can then consider the change to an adviser.

PS. The vast majority of lenders still dual price, but advisers have learnt to live with the situation, and is not the issue it once was.