We all agreed that going back to basics was the best way forward – treating every client as if they are your last, doing everything for them to avoid them being poached and delivering what you say you will.
This took us off on a tangent and we started debating what we would do if we were in government. Here are the results:
Mortgage Interest Relief at Source – Give all movers tax breaks on their mortgages for five years.
Mortgage Indemnity Guarantees – Underwrite debt or contribute to premiums if outsourced. In years past MIG was a reassurance that loans would be repaid and as the government has a stake in most debts these days, why not cut out the middle man?
Stamp Duty – Introduced as a tax on the rich so make it that way again.
Self-cert – Has a place in today’s market. If risk is priced and regulated properly it could boost purchases and remortgages.
Savings – Abolish the National Lottery and make premium bonds compulsory. Consumers build a pot of money to be used as a pension at the age of 65 and in the interim are entered into a £1m draw each month. Radical but it might work.
Sometimes we have to look back to look forward so let’s not reinvent the wheel – let’s dust off some old wheels and get them rolling again.