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18 | Distribution
Be positive
Bob Hunt, chief executive of Paradigm
Mortgage Services, believes that we should
all be positive about 2010 and start adapting to
the new market today
t may be hard to believe, but in the UK and those working in the mortgage
I
it is estimated that over 6 million of the industry will have needed to adapt to
UK’s population believe in Father a very different marketplace than the
Christmas. Now that might seem an one we were in a couple of years ago.
odd opening remark for an article Advisers who have been able to cope
about the future for mortgage with the degree of change are set to
distribution in 2010, but I say this be the beneficiaries of those who
because I’m firmly of the opinion that ‘hope haven’t and most practice owners
and belief’ are powerful tonics in most now feel able to take their business
situations in life, and this article will be a better off ‘survival mode’ and into one
read if it’s viewed from a positive ‘can do’ marked ‘go for growth’.
perspective. For mortgage advisers the
That said, given the still precarious economic important point to recognise is that,
situation we find ourselves in, only a fool or while there are positive signs, the
madman would declare themselves to be market is still likely to be restricted
certain or even overly optimistic about what for some time yet. For every rumour
the next 12 months will bring. Without of 30 or so new lenders waiting for
question the market for mortgage advice and their FSA authorisations to enter the
distribution was tough in 2009, however, it is market, the reality is (for now at least)
possible to feel a great deal more positive about that the usual suspects continue to
the future now than in the dark days of late dominate and therefore issues such as
2008 and it’s that realistic positioning of where dual-pricing policies overtly favouring
we are today that points to a more hopeful direct channels will remain. While
tomorrow. there are a number of new (and old)
lenders entering/re-entering the
Change is constant mortgage sector they will only bring
For now we appear to have pulled back from with them limited lending potential
the financial precipice and as such are able to and as such it is foolish to imagine any
look forward not in fear that the light in the significant boost to lending volumes in
tunnel is an oncoming train. One thing is the next 12 months.
certain, in this market ‘change is a constant’ As can be seen by both Tiuta and
January 2010  Mortgage Introducer www.mortgageintroducer.com
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