By Jeremy Duncombe, director of intermediary distribution, Accord Mortgages
1. Know your lenders, not just what the sourcing system tells you. All lenders have differences in policy, service, rates and risk appetite. A good broker should be familiar with these as it will help you to properly explain and advise your client on which mortgage will be a good fit. The right technology and processes can make sure you have time for each client so you are able to answer questions and allay any concerns.
2. Embrace change. It is not something to fear. Digitalisation will speed up applications and improve customer experience. Familiarise yourself with developments to ensure you can use them to add value. There’s lots of free help and information out there, from mortgage clubs and networks, to the trade press and lenders.
3. Engage and follow up. This is probably the most important differentiator of all. Be proactive from day one – whether with newsletters, information, market news or just reminding the client that you’re there for them. And a decent CRM system will do it all for you. Next time the client needs advice, more protection, more money, or just a remortgage, you’ll be at the front of their mind.
4. Use BDMs. Business development managers are there to assist you – they are experts in their provider’s policy and procedures and will help you if you get into any difficulty with an ongoing case. They can also provide invaluable advice ahead of submitting an application for a tricky or complicated case.
5. Remember, it is never just a mortgage. To your client, it is the most important thing happening for them at that time – the means to buy a new home or remain in their current property. Understanding that is what being a broker is all about, and why brokers are so important to the market.