MS Leader: Let’s get gripes in the open

A couple of years ago there was a recruitment advertisement on television for the Army, which pictured a man in a hot, dusty country getting more and more vocal with a stern, sunglasses-wearing British soldier.

But the irate man’s manner was transformed the moment the soldier took off his mirrored glasses and both could look each other in the eye. The moment the aviators were removed, mutual understanding was possible and the tension was eased.

It’s little things like this that often make a world of difference in life, and lender and broker communications are not dissimilar, as our cover feature on page 18 makes clear.

Lenders can be sensitive to anything that’s not a 100% ringing endorsement of their systems and services but often it’s small things such as being honest and clearly communicating with brokers about potential issues that make brokers’ lives easier. Lenders need to remember that brokers themselves often have to field questions from angry borrowers who are eager to find out why their case hasn’t completed.

Better communication can often be the best way to defuse any potential conflict, which isn’t to say that intermediaries are perfect, so with that in mind, next week we look at how brokers can improve the way they deal with lenders.

Not surprisingly, there was no failure in communication at Sir Richard Branson’s introduction to the mortgage intermediary market last week.

As our Marketwatch columnist, Andrew Montlake, reports on page 12, Branson pledged that Virgin Money is 100% committed to the intermediary mortgage market. This is fantastic news for brokers and clearly shows the importance lenders place on them.