And 77% of those that have say they received only a minimal conversion rate of less than a quarter.Chris Cummings, director- general of AMI, says: “The results show mortgage intermediaries place high value on existing clients and are committed to building and maintaining long-term relationships with customers. “The benefit of this to customers is clear – they will continue to receive ongoing professional advice that meets their needs and circumstances.” Intermediaries are choosing to maintain their relationships with existing customers. 79% of respondents confirmed they have made arrangements to allow ongoing contact with their customers. And 39% of respondents maintain regular contact with their existing client bank via alternative means such as newsletters and brochures. However, Vanessa Blount, head of paaleads.com, counters that lead generation firms were never introduced as a replacement for existing client relationships. She says: “They were introduced as an extension of the current format to broaden their client base.” The results also show that the majority of firms are not convinced by lead generation firms. 69% said they do not see purchased leads as important to their business. AMI’s census is backed up by research from Alliance & Leicester, which found similar concerns about lead generation firms. The research shows 70% of brokers do not feel lead generation websites add value to their business, 18% feel they do and 12% remain undecided. Mehrdad Yousefi, head of intermediary mortgages at A&L, says: “Our view is that the majority of lead generation websites probably don’t add value to a broker’s business. But there is a small minority that generate sufficient traffic for brokers that turns into business. “I would have thought the figure would be lower, more like 55%.” But Blount adds: “A&L research states 70% of brokers found that lead generation sites do not provide value, but this statement cannot be quantified when it is not known how many of these intermediaries have used this method of generating leads. “Online lead generation is still a relatively new phenomenon. Some brokers adapt immediately to it and others tread with caution.”
- Top trends
- Top trends
More than three-quarters of mortgage intermediaries expect the majority of their business to be conducted electronically within the next two years, says research from Vertex Financial Services and Trigold.The survey of mortgage intermediaries predictions for business growth and development shows 76% of UK mortgage intermediaries believe more than half of their business will be conducted […]
A modern structure for todays business environment is needed to regulate the chartered surveying profession, says the Royal Institution of Chartered Surveyors.RICS members and interested parties are being encouraged to participate in a 12 week consultation, which seeks views on a fresh approach to regulation and redress in the sector following Sir Bryan Carsbergs independent […]
Purely Mortgages has appointed Alastair Waldron as head of business development. He has been brought in to further develop the business’ third party and affinity marketing opportunities. Waldron, an experienced marketer in financial services, is best known for his work in the lifetime mortgages sector, most recently helping Prudential launch into this area.
Brokers are welcoming an alliance between Trigold and Equifax that will allow them to access a host of mortgage products appropriate for their clients’ credit ratings.
By Steve Larkin, director of development finance, LendInvest It’s no secret that we aren’t building enough homes in this country. There are a host of reasons for that, from an over-reliance on large builders to a paucity of funding. The second-class status of property SMEs, compared to SMEs in other industries, is also a huge rod […]
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