Lenders are starting to target the female market through advertising, say industry figureheads.With 23% of all mortgage applications being made by women, lenders are starting to home in on what is seen as a largely untapped market. Judith White, sales manager at First National, says 20 years ago it was not seen as a woman’s role to seek advice on financial matters and a wife’s income was virtually ignored. But nowadays many women outshine men in terms of salary and are starting to take charge of their finances. This has not gone unnoticed by lenders, who are starting to target women through their advertising. She says: “Lenders have advertised in predominately male publications such as the Financial Times and other broadsheet newspapers in the past but are now grabbing opportunities to advertise in magazines such as Heat and OK that are targeted at women.” She adds that women are more likely to think laterally than literally and are also more likely to shop around and be tempted by different propositions – they’re usually better shoppers than men. Rachel Blackmore, external affairs manager at the Building Societies Association, warns lenders could be missing out on female custom if their advertising is not female friendly. She says: “There is a lot more advertising out there now that is female friendly and that makes women feel comfortable accepting advice. “But women are still being used to promote products, which doesn’t make a woman feel comfortable when going to get advice about a financial product.”
- Top trends
- Top trends
Coventry has announced the appointment of Richard Field as head of communications. Field previously worked at Barclays for 10 years in a number of senior internal communications positions within its retail, small business and premier businesses. Prior to that Field worked for GEC Plessey Telecoms (now Marconi). He is a graduate of the Institute of […]
The Personal Finance Society, the UKs largest professional body for financial advisers, is next month rolling out its fourth quarters regional meeting programme across the country. The workshop sessions will focus on the issues surrounding advising on lifetime mortgages, a topic that is rarely out of the headlines these days.The workshops are being held from […]
Research by financial marketing specialist Teamspirit shows the self invested personal pension provision is likely to cause an increase in the number of people purchasing second homes.
We live in an increasingly consumer orientated society and our customers have more information than ever before at their fingertips. Mortgage information can be sourced via websites, listings magazines and financial pages in the daily press. But as I have alluded to in this column before, this does not necessarily mean more educated customers – more likely more confused consumers.
With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.
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