View more on these topics

Home Buyer Systems sees surge in broker fee volumes

Home Buyer Systems, a sourcing, sales and compliance system for mortgage and general insurance brokers has seen a 94% increase in the volume of broker administration fees processed through its system, compared with 2008 levels.

Richard Angliss, managing director of Home Buyer Systems, believes this increase proves that brokers are successfully providing customers with a valuable service for which they are willing to pay a fee.

He says “With only 17% per cent of total mortgage products with an LTV of 75% and above currently being distributed through intermediaries, we have seen a huge escalation in brokers switching to our whole-of-market sourcing system in order to advise clients on direct-to-lender products and – if they believe it to be appropriate – charging a fee for this service.

“Initial response to the idea of mortgage brokers charging customers an admin fee for whole-of-market advice was sceptical about the willingness of customers to pay this sort of fee. However, the hard evidence is that we have logged the volume of fees as nearly doubling since last year, so it’s clear that the general public values the professional advice offered by true whole-of-market mortgage advisers.

“With no sign of a substantial upturn in the mortgage market happening any time soon, adopting a whole-of-market sourcing capability seems to be a trend within our sector that is starting to experience exponential growth.”


Recommended

Brown is playing a risky game of snap

US President Barack Obama has a reputation as a pretty cool poker player, which may explain the massive gamble he is taking on turning the US economy around.

Brokers poised for an equity release bonanza

As the recession continues to take its toll, consumers are increasingly turning their attention to ways of boosting their income and it’s no surprise that equity release is on the agenda for many.

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.

BDS optimistic as applications rise

BDS Mortgage Group says there is still mileage in the packaging market, as the firm reported a rise in enquiries and packaged applications for February.

Don’t play chicken with the Bank of Japan

By Josh Ausden, Head of Client Investment Strategy, Neptune Short-term yen strength has hurt the Neptune Japan Opportunities Fund but recent events have only added weight to our conviction that the Bank of Japan will act to ease policy, boosting multinationals’ profits and weakening the yen. In recent weeks the performance of the Japanese stockmarket […]

Newsletter

News and expert analysis straight to your inbox

Sign up