Her work with the poor unfortunates who couldn’t tell a fixed rate from a tracker was to be exemplary. She’d help to credit cleanse them – even though she secretly disapproved of this crude expression.And she’d seek out the cheapest and most suitable deals without a moment’s thought for her own remuneration. Sadly for the mortgage business, her real role in life lay elsewhere. She never really had what it takes to become a top performing broker. She was too selfless, too caring and she didn’t have a greedy bone in her body. But not to worry, there are plenty of other living saints playing their parts in the industry if the people who write letters to this magazine are to be believed. Some of them have responded to a personal vocation to help borrowers resolve their lending dilemmas. The wicked temptations of man are beneath them – no flash cars, posh lunches or corporate entertainment for them. They are just honest brokers, helping the public with their problems, and if they manage to make a crust to feed their own families in the process, that’s great. Pull the other one. Your typical mortgage broker is motivated by one thing only and it is not a selfless desire to serve his fellow man. It is money. I’ve seen the sort of vocation that is a mortgage broker’s. I caught a vision of it on an advert the other day while I was travelling on the number 137 bus from Battersea to Knightsbridge. It promised a salary of 50,000 a year after training as a broker for just 11 days. Mother Theresa herself could swear to it on a stack of Bibles and I’ll never believe that a newly qualified mortgage broker could easily clear 50,000 a year without resorting to some shady work. A nurse or a teacher has to train for years to pick up a fraction of that for their annual salary. And their jobs involve dealing with blood and vomit or – even worse – patiently listening to the inane prattle of a room full of kids. All mortgage brokers have to do is persuade their clients to sign up for a few deals and the commission comes rolling in. I’m not going to apologise for any offence this comment piece may cause. But I will apologise in advance for the predictable letters of complaint that will arrive at Mortgage Strategy from individuals who don’t know their arse from their irony.
Misys has received a request from “certain members” of its senior management team to explore the possibility of making an offer for the business. An independent committee of the board has been established to consider the request.
An FT report last week stated that Barclays is considering giving The Woolwich a greater in-branch presence as well as reducing the number of processing centres it has in the UK to boost its offshore presence. The newspaper put these changes down to Deanna Oppenheimer, who was brought in from Washington Mutual and said the […]
Mortgage and insurance network LIME has added CHL Mortgages, the buy-to-let and self-cert specialist, to its panel.CHL Mortgages joins 41 existing lenders in LIMEs mortgage club, specialising in self-cert and buy-to-let mortgages. As an intermediary only lender, CHL Mortgages prides itself on service and has won Financial Advisers 5 star award seven years running.Keith Richards, […]
From Sara-Ann Burgess There has been much debate over how the insurance industry, regulators and trade bodies should tackle the payment protection insurance issue, its anti-competitive practices and flawed sales processes. While I applaud initiatives to drive up standards I’m frustrated but not surprised that no tangible solutions are being put in place. As it […]
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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