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The role of a BDM

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  • amnblog
    amnblog Posts: 12,730 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If your broker is based in the North West he may have the same BDM as me. He does really know his stuff.

    The BDM was referred to as a 'she'. So not your guy ACG.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • ACG
    ACG Posts: 24,603 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    You never know with my BDM :P
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Right, I've revised the B to Bondage and the M to Masochism.

    Come on guys, this is borrowing on a property and not sending a probe to Mars, so let's not dress it up in jargon.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    And please take me seriously as I'm about to have a stab at the D!
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • ACG
    ACG Posts: 24,603 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    BDM? (Guess: Business Development Manager? yes
    DIP? (Guess: Decision In Principle) yes
    TCF? Treating Customers Fairly
    IRM? Intermediary relationship manager (same as bdm)
    FCA: (Guess: Financial Conduct Authority) yes
    MMR: (Guess: Mortgage Martket Review) yes

    LTV - Loan to Value
    PHI - Permanent health insurance
    AIP - Agreement in principle (same as DIP)

    I try my best to not use these abbreviations with clients, but I imagine I probably do on occasions.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Thanks!

    None of this has ever come up when I've done mortgages, but I tend to go direct, which I guess strips out a few layers of complexity.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • ACG
    ACG Posts: 24,603 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    The only one you would expect to crop up would be DIP/AIP, the rest are not really things you would expect to come up with dealing with the client.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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