CFI: Specialist
Put your toe in the water by
Kevin Ward, director, Connect Mortgage Club
Good news has been very hard to come by in recent years, but we seem to be in a loop today that thankfully seems to echo with the sound of upbeat fore- casts for the economy general- ly and the lending and housing markets in particular. I have just seen a report suggesting that two thirds of brokers be- lieve that they will be writing more buy-to-let business this year along with other types of specialist lending such as secured loans, non high street mortgages
and commercial
deals. Certainly, it has been our ex-
perience that the numbers of enquiries are rising, as are the number of intermediaries who are returning to the market, having decided that
the im-
mediate post 2008 mortgage market was not for them. Given the changes in com-
pliance since that time, it is no surprise that many are strug- gling to fi nd their way back.
“The numbers of enquiries are rising, as are the number of intermediaries who are returning to the market”
T ere seems to be an un-
derstandable reticence by net- works to welcome old hands, whose recent history might
www.mortgageintroducer.com
members whose portfolio in- cludes investment products. Equally, the support for pure
mortgage brokers and espe- cially those whose expertise centres around buy-to-let and other specialist lending areas, are not particularly well served in a generalist network. On the other hand, the choice of go- ing it alone in the unregulated market severely limits those who come across clients need- ing regulated advice, which is why becoming an AR is an important option and those coming back into the market. With the mortgage industry once again beginning to fi nd its feet, it needs more advisers able to help with the growing number of clients who need mortgage guidance and sup- port. So come on in, the water might still be lukewarm, but it is going to get warmer!
be less than perfect given the dislocating eff ect of leaving the industry. We are fi elding plenty of en-
quiries for membership from ex-brokers who are either step- ping back in or have decided that full network membership is too onerous in terms of cost and oversight. T e fact is that in today’s
market, many brokers who specialise in fi nance don’t want to be paying large fees just to support the cost of indemnity insurance for those network
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MORTGAGE INTRODUCER SEPTEMBER 2013 43
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