View more on these topics

Comment: Do sweat the small stuff

You can’t influence overall numbers, but you can maximise client value


As a business owner I’m aware that trying to control the uncontrollable is the route to madness.

A lot is written about management styles, and whether those ‘control freaks’ who attempt to micro-manage all parts of a business are doing both themselves and their firm a disservice. But at least they are trying to manage areas that are within their control.

Given today’s mortgage/housing market, and the raft of data emanating from it, what part of those transaction numbers can you, as an adviser, control? Very few — which is why pontificating about the state of the market and what can be done to improve it is pointless.

Those with the power to cajole and influence it, such as governments, will do what they can. All we can do, mostly, is seek to understand why the market may be moving as it is, what that means for clients and what can help them make the most of the current environment.

Ultimately, those overall numbers can’t be influenced. But you can shape the numbers that come through your business, maximise opportunities with each client, ensure your service leads to more referrals, and do the best job possible to get a bigger share of that overall business and grow your income and profit.

Maximising the value of your clients is vital because it is those tangible ‘assets’ in front of you, or on the phone, that mean the most. It’s not only about retaining them for the long term but about making sure they want for nothing, have no need to go elsewhere and receive quality advice in all areas.

No stone should be left unturned when dealing with these very real clients — the lifeblood of any business.

Whatever the market does, the opportunities for advisers will remain. Indeed, the shift after MMR and the continued pre-eminent position of mortgage intermediaries do not look like changing for some time.

However, it’s not just about making the most of this now but about putting in place a system of advice and provision to cover any market circumstance.

It starts and ends with diversification. Done successfully, it will sustain you in any environment.

Harpal Singh is managing director of Broker Conveyancing


lifetime lease purchases

What is a lifetime lease purchase?

Lifetime lease purchase deals involve raising finance but not on current properties. Rather, they are taken out when consumers move home. They are called lifetime lease schemes. Although not identical to sell-and-rent-back options, they are unregulated too. Lifetime leases are designed for clients who want to move but either cannot afford to or don’t want […]


Lenders raise rates ahead of BoE hike

At least a dozen mortgage providers have hiked rates, as the Bank of England looks set to raise interest rates. Data from Moneyfacts shows many of the main lenders have started to edge rates up. Family Building Society has scrapped its 1.99 per cent deal and replaced it with a rate of 2.19 per cent.  […]


Metro Bank reviews possible second charge market entry

High street lender Metro Bank has said it would not rule out the possibility of a move into the second charge lending space. Speaking at the Legal and General Mortgage Club Live event in London today, Metro Bank director of business management, Richard Saulet, said the bank was “continuing to review” the possibility of diversifying […]


News and expert analysis straight to your inbox

Sign up