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James Tomlinson Principal
J T Private Finance Limited Doncaster First Complete
I completed 13 mortgages today and have never been busier in nine years of running my business. I’m in a good location geographically on the outskirts of Doncaster, I’ve got good staff and a very good client base. I think there is more and more need for small businesses and people who can help keep the deal on track and keep the chain together. There are a certain number of mortgages out there and the people who are efficient and switched on, who return calls straight away and chase customers for documents, are the people who will get the business. Virtually all our business is from referrals; not only that but we always ask for feedback and testimonials every time, if you’ve done a good job why not? As long as you’re good there is business out there. There are loads of people out there who took protection or investment policies out years ago whose advisers have never followed up with them and who are often keen to review their policies with someone else. Being part of a strong network like First Complete, the best and most supportive mortgage network in the UK in my opinion, is also a massive benefit.
Ryan Templar Principal Templar Mortgage Services Whitchurch, Bristol Pink
It’s been a brilliant year; things have really improved from 2010. Buy-to-let is going great and has really picked up in the last three months. A lot of people with investments that aren’t earning anything are going into buy-to-let instead and I think we will only see more of that - Abbey for Intermediaries coming in will be a real boost too. The number of first-time buyers has increased too; there are a lot more competitive deals for first-time buyers coming to market and I’ve not had any problem getting the cases through. Dual pricing seems to be disappearing as I haven’t lost any clients to this for ages but I think it’s the type of client I’m getting and where I’m getting them from. I get most of my work from estate agents, a solicitor plus referrals and business through playing rugby. One estate agent I work with has just signed a lease on his third estate property so that is a positive sign too. I think next year will be up 10-15% on this year. A lot of advisers are disappearing so the ones that are left are picking up a lot more business.
Paul Hunter Principle Premier Financial Wokingham and Reading TMA
I don’t think I’ve ever worked in more challenging times than these, and having been in the market for 20 years I’ve already lived through one recession. There are a number of issues: consumer confidence, austerity measures, the flow of money between banks, it’s tough for everyone but there are opportunities. I’ve seen a growth in people with credit problems, through unemployment, debt or using credit badly as a means of supporting their income, so I’m doing much more debt consolidation and downsizing. It is not the sort of business I would have looked for but is a growing market. I’m seeing more first-time buyers than ever; there is plenty of demand, it’s the supply that is restricted. While there are some more 95% mortgages out there a lot are direct only, business is cherry picked and often geographically restricted. There will be some positive things happening in 2012, lenders are being more innovative and high street lenders are coming back into buy-to-let, however the upshot is that in ten years’ time more of our under 30s will rent rather than buy. If all the people looking for a mortgage could be accommodated, then house prices would be on the way back up and confidence would be higher.
30 mortgage introducer JANUARY 2012
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