Let clients know that funding is available
Posted on July 5th 2011
Our recent poll of over 2,000 mortgage borrowers has thrown up some interesting facts, some of which I will publish here over the next few weeks.
The survey aimed to understand the perception and behaviour of customers so we could draw their attention to the benefits of using a mortgage broker. High street lenders have such huge and powerful marketing budgets that they have hoodwinked customers into thinking the best way to get a mortgage is direct from them. But how can it be best to go into an HSBC branch or ring a Santander call centre?
They will only sell their employers’ product and if the customer doesn’t pass the credit score it is a waste of time. It bears no comparison to going to a broker who can look across the market for the best deal. I have no problem if a customer wants to go direct that is their choice. But they need to know both sides of the story.
The survey’s interesting fact this week is that 19% of borrowers which extrapolates to around two million people believe there are insufficient funds to go around and that this will make it difficult for them to get a mortgage. Please help us counter this view.
Banks are now paying back the Special Liquidity Scheme ahead of schedule because their liquidity has improved more quickly than expected funding is no longer the big problem. Lenders are eager to lend, which loosely translates as they are behind target.
