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Need another name for mortgage broker

Some time ago in Mortgage Strategy I asked if the name ’mortgage broker’ was right for those in this industry who are now more than that term suggests.

Last week the broadsheets held numerous articles on the fact that rents keep rising as the number of houses being built keeps falling. In addition buyers are cautious and lenders are nervous. What can we do to change this?

Well, a good place to start would be to adopt a positive attitude. Last week in a blog on Mortgage Strategy Online Ben Thompson, managing director of Legal & General Mortgage Club, called on the industry to talk the economy up, or at least emphasise the positive.

He’s not wrong. While I don’t suggest boundless over-enthusiasm, a positive attitude when dealing with people goes a long way, even more so when you are going beyond helping them buy the house of their dreams and taking care of many families’ financial well-being.

A good way to do this is to help clients visualise their financial situation. If you can use your IT to help illustrate how much protection their monthly premiums will buy, the solution becomes almost tangible.

Many software solutions provide graphical output to help compare what a premium will buy between varying providers, allowing clients to see at a glance the power of their money.

And by boosting your services, the name mortgage broker doesn’t cover the extent of what you offer. I’m just left wondering what a replacement name could be.

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