why you should REALLY support brokers

payless

Dan you can still be honest , earn a little in fees and service clients

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What happened thought your firm was going to do well out of the PT RSC setup?

Conrad

I started in 1991, and the crash was well embeded by then.

I think it's harder this time for a number of reasons;

1) People have much higher debt to income ratios now (inc unsecured)

2) Far higher income multiples featured in the last boom compared to the late eightees

3) Unemployment has not gone down, all thats happened is the unemployed have been shiften onto the various incapacity benefits.

4) UK plc does'nt create enough wealth now, instead we all cut one anothers hair. The Germans on the other hand actually make lots of stuff people buy. Imagine UK plc Bank account, gradually being drained as we buy stuff from the Germans and Chinese but dont sell them anything in return, instead we mow each others lawns - thats the problem, our wealth is illusory and builton cheap debt being puped into the system

Its worse this time I think

Ian_Griffiths_Halifax

Dan_Collins wrote: »

Ian I am glad to see your busy. We have a good client bank, but I only been going 3 years and have given away to much business this yeah to direct deals.

If Ihad known it was going to last this long I think I would have been less honest, but then again I know I can sleep at night.

Good luck

I can sleep at night too, I can assure you that I've sent many direct to the lenders and some of them have come back because they found the lenders too difficult to deal with or they felt there was something they weren't being told. Being sold very expensive add ons is a regular comment I get and despite me saying "well just take the mortgage and not the add ons" they still don't want to deal direct!

I find that most are wanting my assistance.

I know that if a client does go direct, then they will come back to me when the mortgage is up for review, so I'm not losing a client, just providing a service that wouldn't normally have been necessary until recently.

Dan_Collins_2

I think if I had a two more years under my belt I would be fine. I have a lot of clients coming out for review in a months time, so we shall see.

Conrad

I've got 10 years worth of clients but have noticed lenders are far more effective at holding onto thier customers now, and furthermore it's often not worth changing as the new deals are too highly priced, and with another problem being down valuations.
Dan watchout for the 2 year clawbacks as lenders attempt to re - broke the insurance.

I'm just sitting tight, keeping expenses at rock bottom, having pruned out every none essential cost and wondering when I might have to top - up earnings from savings!

I don't know anyone who's busy. Some brokers I know tried the breakfast meeting thing in the past but did'nt stick with it. 2 agents here are not selling anything, so are trying thier hand at lettings.

homer_j_3

Diversification is the key and I have been looking at it very closely.

With a decrease in activity, you still are just trying to look at as many ways as you may be able to help people. At the moment. I am finding things tight and even with a diverse range of services, including protection, conveyancing, hips, secured loans. general insurance and overseas mortgages - everything is pivotal on the same marketplace that effects the actual mortgage business we write.

I have just ordered a copy of the CF2 study guide from ebay and have some test papers now to build up my knowledge back up on the FA side as that seems to be the only route for me to stay within Financial Services. I have plenty of time to get the rest of my qualifications to become an IFA under the RDR suggestions and hopefully, it will make a positive impact.

I have read today that there are rumours that lenders are looking at charging booking fees up front now as standard practice. Another pot hole for the client ti have to navigate.

_Andy_

Yep Abbey are starting to from the 9th - £150 non-refundable.

Dan_Collins_2

My 2 agents are selling little. Both are very good agents but people are not moving or are wasting time!

payless

think you might be right

http://forums.moneysavingexpert.com/showthread.html?t=387161

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Ian_Griffiths_Halifax

It is Utility Warehouse guys and I can assure you, having studied it, that there are large savings to be made for clients. Definitly worth looking at.