Nationwide says intermediaries do not have to compete upfront with lenders going direct to consumers through high street branches.At a debate in Jerez, Larry Banda, head of mortgages at Nationwide, told delegates nobody will benefit from a battle between the distribution channels. Landa told delegates: “There is constant talk of there being a battle between intermediaries and the high street. “What is more important is to establish strategic relationships between the two channels so this does not become a damaging struggle. “At Nationwide, we appreciate the importance of the intermediary channel and are looking to conduct an increasing amount of our business electronically.” The importance of customer retention was a hot topic during the debate and the importance of customer management programmes was stressed. Kevin Duffy, managing director of Hamptons International Mortgages, told delegates it is important to rid the industry of the ‘rate tart’ tag for those who opt for two-year rates before changing to more competitive rates. He says: “It does not make you a rate tart if you shop around seeking better deals. It is an ill-informed tag that has no place in the current market.” Juan Rodriguez Inciarte, chief executive of Santander Consumer, stresses the importance of good customer service and also the enhancement in reputation that follows from intermediaries offering a range of products and services. He says: “If clients buy more products from you, they come away with a positive image. “It is more convenient for the customer as well as generating more income streams for the intermediary.”
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Woolwich has launched its retention range of products to the intermediary market. They are the first major high street lender to do this. From this point on intermediaries will be paid a procuration fee if they feel best advice is for a customer is to stay with their current lender. Woolwich has been running a […]
The Bank of England’s Monetary Policy Committee has voted to keep interest rates on hold at 4.5%. The decision comes after last month’s cut of a quarter point , the first in two years. Duncan Pownall, mortgage development manager for Bradford & Bingley, says: “This is no surprise. Given the jump in the inflation rate, […]
A quarter of mortgage intermediaries could be forced out of business in the next two years if market forecasts are to be believed. Chairing a question and answer session at Mortgage Strategy’s Mortgage Summit in Jerez, John Malone, managing director of Premier Mortgage Service, told delegates the disparity between the value of the market last […]
Pink Home Loans has launched a shared exclusive fixed rate buy to let product range in association with Mortgage Trust, which offers initial pay rates from 4.55% fixed until January 31 2009.The 4.89% fixed until January 31 2008 offers a competitive low rate, a reduced arrangement fee and the rental income is calculated using the […]
Johnson Fleming has published a step-by-step guide demonstrating the importance of record keeping and reporting, and how it can ensure you operate a successful scheme. The guide takes you through some key questions you need to ask and identifies the information you need to obtain. The topics include: why you need to keep records and the benefits of doing this; registering your scheme; what information you need to record to ensure you meet the Pensions Regulator’s requirements; and what items need to be recorded and when.
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