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Innovation needed to stay in the game


The Mortgage Business Expo this month was buzzing and not just because Manchester United is celebrating its 19th premiership title.

It doesn’t matter if you a Manchester United fan or not, you have to admire the consistency and resilience of a club to deliver such results. When the chips are down, particularly with all the outside distractions on the players, the team still delivers.

It was therefore appropriate to have the Expo at Old Trafford. The mortgage market has also had to deal with extraordinary times and the resilience of those in the market can only be admired.

Talking to friends and colleagues at the Expo, it was clear that most of them had had to look for alternative ways to service clients and introduce goods and services they may not otherwise have considered.

Looking around the stands it was clear that even now, innovative ways of helping clients are still being developed. One short-term provider was advertising finance for luxury goods such as sports cars, boats and jewellery.

It is worth asking yourself how well equipped your customer relationship management system is to deal with these additional products and services. How do you record if your client has taken anything out other than the expected products, such as mortgages and protection?

You need to make sure that as your business develops, your system can cope with new products. The last thing you need is to give your IT system the red card.


Demand and house prices dependant on people’s ability to pay

After reading a letter in last week’s Mortgage Strategy entitled ’Silly comments on house prices ignore supply and demand,’ I felt obliged to write in. The author was quoted as saying that housing shortages, combined with the fact that the UK is a great country to live in, explain why prices as a whole will […]


West Brom reports £13.1m pre-tax loss

West Brom Building Society has reported a pre-tax loss of £13.1m for the year to March 31 2011 against a £18.5m loss the previous year.

Sub-Saharan Africa Near-Term Outlook

By Paul Caruana-Galizia, Neptune Economist

Sub-Saharan Africa’s economic renaissance continues. After growing at an average rate of five per cent over the past decade, the IMF projects an acceleration to 5.5 per cent growth among Sub-Saharan economies in the next two years, as developed economies emerge from the crisis. We expect this growth to be sustainable for three broad reasons.


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