Good time for a festive mortgage sale

Imagine for a moment you are out shopping and are faced with two shops selling the same goods you want to buy. But one shop has its windows plastered with red and white \'sale\' banners. You will be attracted to the sale shop as we all like a bargain.

Many people leave Christmas shopping until the start of the January sales as, with the big spend items, they can make considerable savings. One of the many benefits of reading MS is that, as well as keeping abreast of all things topical, we can share our out of the box thoughts.

So, Christmas is approaching and instead of switching off I suggest that, just like the Christmas lights, you switch on. Why not have a mortgage sale? Yes you really can advertise that you are having a sale in mortgages that are cheaper than competitors’ or existing deals. There are many benefits to both buyers and sellers in sale time so let’s look at some facts.

Christmas is the one time of year people want to spend big time, but due to the debt mountain some are wondering where they will get the extra money from. The solution lies in the hands of the mortgage broker with a straight swap mortgage deal with lower monthly payments or a draw down of equity. And as if the word sale isn’t powerful enough on its own, you could even get some free PR from your local newspaper. The idea of a mortgage sale is both novel and newsworthy. And if you really want to push the boat out, contact a local store and cut a discount deal whereby they will provide you with, say, a TV or something you can offer buying clients free of charge.

I realise that to some this type of marketing gimmickry will smack of tackiness but think, it works in virtually every other industry. Norwich Union has for years been sending out mail shots with free clocks and calculators as incentives to take out insurance. And NU has the resources to conduct extensive market research to establish what works and what doesn’t.

Whatever the product, we all want to save money on the purchase and if we can get a useful freebie to boot so much the better. Throw in six months’ free ASU and you have a real winner. So set your stall out, start waving the ‘sale’ banners around and expect a pleasing number of takers for your low cost mortgage and insurance products. It could be a way of paying for the Xmas presents and perhaps some money to go wild in the January sales.

A sale could turn this historically slow time for business into a busy one.