Doom-mongers fail to see big picture

8 February 2010

It seems ages since I had the time to sit down and write properly, apart from my ill-conceived rant on Mortgage Strategy Online about The Mortgage Times Group which was misunderstood by some.

To reiterate, the point of my comment was to remind everyone that in any business there are good individuals who don’t set out to cause grief but due to poor management or judgement - either theirs or others’ - end up doing just that.

I’d also like to mention the timing of the announcement by two Mortgage Times directors of the launch of their new company. This appears to be rubbing salt into the wound.

But with regard to business in general it is good to see the likes of Tiuta and Savills Lending Solutions doing a great job promoting their products. We won’t be far behind with a deal from ourselves and some other firms I have been involved with recently.

This won’t be a great year but it will be the start of better times and many brokers are still standing despite the Financial Services Authority and some mainstream lenders trying to put their big feet on our heads.

Those who say brokers are doomed should bear in mind that in a competitive market single product distribution has never worked because consumers want choice.

Without some form of intermediary distribution clients will stop venturing out because they will be worried about getting value for money. So take heart - I foresee better times ahead.