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A good year to seek out new customers

I hesitate to use the phrase green shoots of recovery when discussing the mortgage and housing markets but as someone of the glass half full persuasion, I believe there are more reasons to be cheerful in 2009 than last year.

In terms of market activity there seems to be a rosier outlook. Research by the Royal Institution of Chartered Surveyors shows that buyer interest increased for the fourth consecutive month in February – 20% more chartered surveyors reported a rise in new buyer enquiries.

And from our perspective this rings true, as we have noticed an increase in purchase activity. For example, in January and February our average number of daily purchase instructions was the highest it has been since last May.

So what does this mean for advisers? Well, an increase in purchase activity obviously represents an opportunity to acquire new clients.

During the boom it is fair to say that some advisers became lazy in hunting purchase clients, with too many relying on remortgages.

Now, firms should be doing all they can to secure new customers. This means it’s time to develop relationships that will bring in these clients.

For example, how about developing a partnership with an estate agent who no longer has an inhouse mortgage adviser?

This is a good time to forge such deals on your own terms and ensure you can provide services to the next generation of clients.


MPC unanimous on £75bn asset purchase

The Monetary Policy Committee voted unanimously in favour of both the £75bn Asset Purchase Facility and the 0.5% base rate reduction, committee minutes reveal.

King calls for simple and robust regulation

In a speech to the Worshipful Company of International Bankers last night, Mervyn King, governor of the Bank of England called for regulation to be simple and robust.

AMI supports Turner Review

The Association of Mortgage Intermediaries has come out in support of the Turner Review by the Financial Services Authority.

FSA could regulate buy-to-let mortgages

Lord Turner, chairman of the Financial Services Authority says its Mortgage Market Review paper due in September 2009 will consider whether the FSA should regulate secured loans and buy-to-let.

How to use wills to protect your clients’ wishes

March was Free Wills Month! Free Wills Month brings together a group of well-respected charities to offer members of the public aged 55 and over the opportunity to have their simple wills written or updated free of charge by using participating solicitors in selected locations around England and Wales. Research by the Law Society* highlighted that only 64 […]


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