How do Mortgage Networks help?

The central concept of Mortgage Networks is that by paying a third party to look after compliance & other administrative issues, a mortgage broker can free-up time to concentrate on their core business – i.e. writing business. Indeed, this simple concept of specialisation is the basis for most market systems & is why China makes the tea and we make the rugby players!.

 

Being an AR of any mortgage network should ensure a mortgage intermediary can spend as near as possible to 100% of their time advising new and existing clients. However, since the original network model was conceived, propositions have evolved and simply offering regulatory shelter is no longer enough to ensure market-leading service to intermediaries. Now more than ever, a Network’s role should include assisting it’s members in sustaining and growing business levels in increasingly challenging market conditions.

 

On the negative side, 2009 may seem a daunting prospect to brokers, with new business levels 'bouncing' around month by month, low interest rates driving a near 'dead' re-mortgage market and greater competition from lenders with their 'deal direct' products. However, a more optimistic outlook will highlight a strong house purchase market across many areas of the UK, a much greater value placed on specialist protection advice and increasing opportunities across other markets i.e. commercial insurance, debt solutions and equity release.

 

As we face a period of subdued business levels, two strategies emerge to reduce negative impact – firstly to market your services more effectively to ensure business levels are maintained and secondly to ensure additional revenue streams are explored and optimised. At Mortgage Support Network, a two-prong approach is recommended, with support offered in terms of improved marketing tools & expanded income streams.

 

Helping our members break into new markets such as protection, commercial mortgages, overseas mortgages etc, as well as researching and vetting third-party service providers such as lead generation companies, we can again reduce the burden on our members time, while opening the doors to extra revenue. Working with members in helping them maximise 'traffic' through their websites - the idea here is simple - increasing numbers of people source products and services on-line, therefore in times of subdued business, brokers should ensure that available trade does not pass them by.

 

By assisting our members with marketing tools & increased product portfolio, Mortgage Support Network can add value to the outdated network model of yesterday & live-up to the reputation we have established in recent years. A ‘lean’ business period is often the best time to enhance a business model and fine-tune strategic direction. At Mortgage Support Network, our approach is to offer members as much help as possible to future-proof their business.

 

For more details of what we believe to be one of the most innovative network models in the UK, take a look around our site... Mortgage Networks