From Simon BurgessThe time is right for mortgage brokers to tap into the public discontent over the sale of payment protection insurance and at long last take their share of this market. They may even be able to change consumer perceptions and promote the fact they have a choice. Brokers are well placed to sell PPI. They have the skills and talent as well as the understanding in identifying their clients’ needs. Most importantly, they are able to provide a personal service. There are swathes of disillusioned customers questioning whether the mortgage and loan protection policies they hold are right for them, plus many more who are considering purchasing one of these products. Brokers should be seizing the moral high ground and making the most of the opportunities that have been presented to them. Given the current climate, mortgage brokers are well placed to restore consumer confidence in payment protection insurance. The FSA recently stated its view that “when properly structured, explained and sold, PPI can provide worthwhile cover for consumers against unexpected changes in their personal circumstances”. That’s our cue. While high street lenders shuffle about uncomfortably at the prospect of customer discontent and further investigation, let’s ensure their pain is our gain.
- Top trends
From John Hill Further to John Nicholls’ letter regarding The Mortgage Works in the November 21 issue, I had three cases – all for to the same client – that I recently placed with this lender. The cases were submitted in October. My client went on holiday for two weeks just as the applications were […]
Bradford & Bingley believe that 2006 will see the housing market remain strong with the buy-to-let, self-cert and lifetime markets growing faster than the mainstream.Mark Stevens, managing director of strategy at Bradford & Bingley, says: Economic data throughout much of the 2005 has recorded weak growth and sluggish consumer spending much to the frustration of […]
The Office of Fair Trading is to carry out a market study to look in depth at the payment protection insurance sector. The market study, which is the outcome of the OFT’s consideration of a super-complaint from Citizens Advice, will be launched early in 2006.PPI is applied to a number of credit products, including mortgages, […]
The West Bromwich, in partnership with the Mercian Trust, is donating 10,000 to support local seasonal fundraising activities. Among the beneficiaries are the Phoenix Singers, who will give a fundraising concert in aid of St Mary’s Hospice at the Adrian Boult Conservatoire in Birmingham on December 17. West Brom is also working with the Birmingham […]
Do macro headlines create white noise which impacts market prices? Portfolio Manager at Harris Associates, David Herro, discusses how market volatility can create opportunities to buy good business at a discount.
News and expert analysis straight to your inboxSign up