Connells, Countrywide etc.....

Gloster_Advise

Oh dear,


Just came on here after a very unsuccessful day and read the main post. My former branch network in one of the 2 companies in the area has reduced the adviser roles from 9 to 2 people based on lack of sales and re-mortgage business.

I mentioned on a post about a week ago about how "sometimes" house sales are driven by who sees the in house adviser. I still stick to that this day and that practice will probably never ever change.

The lack of sub-prime knowledge in those establishments is astonishing from my experience there to what I know know. Prime prime prime all the way. GMAC was the only non-conforming lender one of those companies had whilst I was there. How is that TCF when many many more lenders offered better rates and more flexible criteria.

Rant over and back to work.

Regards
Si

dwsjarcmcd

I can't get my head around why anyone would think banks will increase their branch numbers right now? The vast majority have funding issues to a varying degrees and don't need the costs of establishing these. The costs, the housing market, the availability of retail inflow via the Internet will mean that the last thing banks will do is increase branches/costs.

Very few banks or building societies actually want mortgages right now, and I don't think this is going to change until the wholesale money markets open up, which is probably not going to happen for 12 - 18 months.

UK007BullDog

There is this shop in my local town area and it is being turned into a Halifax branch. A mid size branch. Some banks are still expanding.

dwsjarcmcd

Bet you any money that they completed on the lease ages ago and had to go through with it!!

homer_j_3

http://business.scotsman.com/abbey/Abbey-to-open-300-new.3589012.jp

http://www.hbosplc.com/media/pressreleases/articles/halifax/2006-03-01-00.asp?fs=/media/press_releases.asp

http://www.skipton.co.uk/branches/newBranches.aspx

Here are a few examples of branch network expansion. Banks are not struggling with money as such and opening new branches will mean that they get more money in through deposits etc.

Innocenti

I have used a mortgage advisor from Countrywide and I have found him to be brilliant. He actually returns my calls and i can get hold of him when I want to. We went to him and he got us a great mortgage (even better than the independent advisor we first saw) and the house we are buying is with another estate agent.

homer_j_3

good and bad in all walks of life - its no different in mortgages.

Dan_Collins_2

I must add, that when I called the companies !!!!!!, I meant the actual companies and the people that own them, not all of the staff! Just some of them!!

Most of them wish to leave and go self employed, bad move now but hey!!

inca_2

Very few banks or building societies actually want mortgages right now

The one I work for does...very much so! Unfortunately the amount of customers wanting them seems to be declining rapidly, most of our business at the moment is from transfer of equities.