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Firms must find a business balance

Following the impact of the credit crunch and the subsequent recession it can be seen that the lenders facing the greatest challenges – and also the ones that found themselves especially vulnerable – are those that were over-reliant on one type of funding.

On the flip side, the more successful financial institutions are those that took a diverse and balanced approach to funding, giving them a more stable passage through troubled economic waters.

The same principle of balanced business planning can be applied to mortgage brokers.

At the moment many brokers are experiencing problems due to over-dependence on one type of client or product.

Diversification can provide a solution. By exploring fresh options brokers can both branch out into alternative sectors and strengthen their income streams.

A key factor in this process is marketing communication, and equity release provides a prime example.

Many clients are likely to have older relatives who require different product types. Advisers will often find that the parents of clients with equity release plans have gone direct to providers and not considered speaking to an IFA.

Involving all family members in equity release decisions is important and dialogue can be vital in allowing brokers to branch out into areas they have previously left unexplored.

Such diversification strategies are important in the present economic climate.


TCF reports record enquiry levels

TCF Debt Solutions, the Wilmslow based debt advice specialist has seen a doubling of broker enquiries since the beginning of 2009.

HIPs are of no interest to most home buyers

I was intrigued to read an article on Mortgage Strategy Online last week revealing that 40% of buyers don’t see Home Information Packs before they make offers.

Shared ownership could be the new sub-prime

Some lenders are starting to classify shared ownership mortgages as sub-prime as borrowers begin to staircase down instead of up, the Communities and Local Government Committee has warned.

Lenders must fight their corner

Phillip Tebbatt says politically motivated measures to address problems in the lending market could do more harm than good and the industry fightback should start here

In Focus Ebola cover - thumbnail

White paper — In Focus: Ebola Virus Disease

Jelf Employee Benefits focuses on Ebola Virus Disease (EVD) and what this means for businesses with operations in West Africa. This will be of particular interest to those with employees either travelling to, or living within, West Africa, the area affected by the most catastrophic outbreak of Ebola to date.


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