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JEREZ 2006: Lenders branded arrogant for thinking they own client

Speaking at the Mortgage Summit today Kevin Patterson, sales director at Park Row, says it is not acceptable for lenders to think they own the client.

He says: We introduced the client and it is not acceptable for the lender to cross-sell, they should be ring-fenced and have no outbound contact with the lender, unless it is specifically requested. I am staggered by the amount of arrogance that is in this room today.

However Charles Haresnape, managing director of mortgages at Bank of Scotland, says that the customer has the lenders product but it is an intermediary client.

He adds: A mortgage broker gives the advice on the products, however a lot of customers do not go back to the same broker when they come to remortgage.


Mortgage brokers are not living saints

Mother Theresa’s youthful ambition was to be a mortgage broker. She planned to devote her life to finding the right home loan deals for struggling clients, helping them sort out their other financial commitments along the way.

Strategy, risk and economics director appointed at Hometrack

Hometrack have a appointed Gary Styles as strategy, risk and economics director.Styles, an economist, is the former head of group planning and group chief economist at HBOS for over fifteen years and was responsible for the Halifax Economic Outlook for many years. He is currently Chairman of Acadametrics, a London based risk and economics consulting […]

The Mortgage Mole

Cup FeverMortgage Strategy got stuck into the World Cup spirit last week by decorating the office in red and white England flags and banners. Mole decided to ignore feedback from this week’s Word on the Street that putting flags outside your property can lower its value and decided to show full support for the England […]

YBS reveals 2m donated in seven years

Yorkshire Building Society Charitable Foundation has donated over 2m to more than 3,600 charities and local good causes in the last seven years The foundation which began in 1999 made 424 donations last year totalling 314,300. This year over 700 local charities and good causes have already received donations.The Charitable Foundation receives much of its […]

Five ways to invest in the connected world

Smart utility metering; fitness trackers; connected cars; smart factories; precision agriculture: the internet of things encompasses myriad applications. But how do you gain exposure – and profit – from this growing trend, asks Neptune fund manager & CTO Ali Unwin. Read more: Important information Investment risks Neptune funds may have a high historic volatility rating […]


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