One senses that the mortgage industry is finally past wishing for a return to the pre-credit crunch market. Dwelling on the past helps no-one and only increases the chance that you will miss out on opportunities today.
While I would not suggest there is a buzz about the mortgage industry, I am convinced there is momentum building towards broker distribution.
With lenders such as Precise Mortgages and Paragon moving into the residential and buy-to-let mortgage spheres respectively, plus others such as Kensington expanding their distribution, we can be confident that brokers still remain a priority for many lenders.
A key reason for the existence of brokers never went away. There is a demand for independent advice and lenders have never proved capable of servicing this demand via their retail distribution structures.
While the lender-broker relationship has never been entirely harmonious, as lenders’ circumstances improve there is a move towards the use of intermediary distribution by some.
Those waiting to make their entry into the market will also be placing a large part of their distribution in advisers’ hands.
Learning from the past is essential, but there’s a lot to be said for adopting a forward-looking attitude. Advisers who are prepared to adapt and evolve will be the beneficiaries of those who don’t.