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Prepare to document entire client journey


The Mortgage Market Review has had us intrigued for some time. The recent discussion and consultation papers have had me nodding in agreement one minute and shaking my head in despair the next.

I have a similar reaction when I think about the Financial Services Authority being disbanded in 2012.

I’ve worked in the network arena for more than 20 years so have had a number of visits from the FSA. The teams I have dealt with have been consistent, willing to debate and, if they have misunderstood, correct their response.

How easy is this going to be given current proposals which could lead to firms negotiating with two supervisory departments in the Bank of England, a Consumer Protection body, a markets agency and a financial education body?

The MMR says the regulator will be interested in the consumer journey from when the consumer was a lead, the advice given, through to an actual sale and dealings after the sale.

How you document and manage all this information is going to be crucial for the protection of your business. The more management information you have at your fingertips the better. If you’re on the lookout for IT to support this, check the management information reports generated cover the journey your clients have taken.

Even better – if you can define the reports yourself at the touch of a button, you can deliver the goods and protect the clients and business you have worked so hard to build.


Scottish borrowers spending less on their mortgages

The proportion of income needed by Scottish borrowers to pay their mortgage each month fell to a 14-year low in Q2. The Council of Mortgage Len-ders revealed last week that borro-wers in Scotland used just 9.3% of their income to service their loans, the lowest share since 1996. Some 12,700 loans for house purchases worth […]

Existing loan books to reopen

Consider the divide between current lending volumes and the amount of existing loans and it’s apparent that those firms who get their legacy strategy right can expect returns, says Julian Wells, director of marketing, HML


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