Brokers who adapt can negate client retention problems

I was not surprised to see that my article in the March 31 issue of Mortgage Strategy generated two stiffly worded letters in the April 7 issue.

The article covered the controversial topic of client retention and despite the strong views expressed by Danny Lovey and Simon Collis, it is surely hard to argue there is not some cause for concern.

It is indisputable that many clients are being advised earlier than they would have been before the liquidity crisis took its grip on the market.

As someone who is in the process of remortgaging I know this can be appropriate but given that it means extending the time before completion of re- mortgage deals, it stands to reason that there is an increased chance initial ad-vice will have to be altered.

Brokers who adapt their client management techniques to changing market conditions are in a good position to negate this risk.

Lovey and Collis appear to fall into this camp, in which case it is no surprise they saw fit to write in.

It’s good to see the credit crunch has done nothing to dampen the fires in the bellies of Mortgage Strategy readers.

Julian Wells
Independent consultant
By email