A third of appointed representatives are looking to switch to being directly authorised, a study from Charterhouse Research has revealed.Many are aiming to make the change to give them more freedom to offer customers a wider range of products. By contrast, just 5% of broker DAs are looking to switch to becoming ARs. The consultancy has produced a report titled Mortgage intermediaries – the regulated environment, tracking the intermediary market in the face of regulatory changes. Intermediaries are evenly split between directly authorised and those with appointed representative status. A whopping 91% of intermediaries are now authorised to advise on general insurance. With house insurance and protection natural partners to a mortgage, mortgage brokers clearly see this as a way to boost revenue. There is widespread optimism that the volume of GI business will increase. Nearly half, 49%, of respondents expect business levels to rise while only 5% anticipate a decrease. Intermediaries are most optimistic about the outlook for life insurance sales – 57% expect volumes to increase and only 1% predict a decrease. Respondents are also optimistic about mortgage payment protection insurance, with just under half, 47%, anticipating growth. The picture for critical illness is more mixed with 42% predicting an increase but 17% anticipating a drop. Julie Irwin, director at Charterhouse Research, says: “Talking to customers about the protection available is a natural extension to mortgage advice. Though rates and price remain a dominant driver of provider choice, the importance of good service shouldn’t be underestimated, particularly in an environment where the sales process has lengthened.”
Preferred have appointed Ron Simms to the role of head of legal. Simms reports to the chief operating officer and is responsible for protecting Preferred’s interest in its day-to-day mortgage dealings and ensuring legal compliance across the business. He will work closely with the head of compliance.Before joining Preferred, Simms spent three years at Nationwide […]
The government has postponed a Council Tax homes revaluation in England until 2007. David Miliband, minister of communities and local government, says: “We need a clear and complete picture of what we want local government to do before we tackle how it will be funded.”
Coventry is launching three buy to let mortgage products. At the same time, it is making changes to its buy-to-let lending policy which will make it easier for introducers to access the Coventrys products for their clients. The first product is a two-year buy-to-let product at 4.99% fixed until December 31 2007, then +0.75% BBR […]
Jelf Employee Benefits discusses the legislative changes in Dubai, available medical facilities and policy considerations for employers with expatriate workforces in the country. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Dubai, or are considering operating there in the near future.
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