Four reasons to attend industry events

You turn your computer on. You log onto social media and see the latest conference hashtag, or see an email drop into your inbox about the next industry event. Tempted to go? You should be.

Industry events offer incredible benefits, such as increasing your knowledge to service your customers better, understanding forthcoming regulatory changes and requirements, developing networking skills and meeting up with industry representatives from different services.  We’ve rounded up our top reasons as to why you should attend events below:

  1. Knowledge gains

In our latest social media poll, 67% of you said that the part you value most about events is expanding your knowledge. From key speakers to the latest industry news, events are vital for increasing your understanding outside of what you learn during working hours.

Our Mortgage Vision events this year cover topics such as creating a digital journey for your customers, the Senior Managers and Certification Regime, Buy to Let activity 12 months on, the Competition Review, GDPR – new data protection legislation, the return of the First Time Buyer and much more.

You can only learn so much from reading books and published articles – you can learn far more from actually going out and meeting Lenders and product providers first-hand. There are always opportunities to ask questions, discuss relevant topics including the current and future of your industry with other delegates too.

  1. Plenty of opportunities to network

Events offer a fantastic way for you to meet your peers, discuss the latest industry news with likeminded individuals and compare how you are finding ‘business’.

Comparing notes about forthcoming legislation, discussing the latest technology advancements and going over changes to mortgage products with those who are working in the same market as you, can often be very enlightening.

Not only that, but networking can help evolve your interpersonal skills. If you’re new to the networking scene, events can provide a great way of getting used to introducing yourself to others and gain confidence in potentially seeking out people to talk to.

  1. Everything you need, all in one place

It can often take time to locate all the resources you need to see the latest news, understand the next lot of legislation changes and discover new and existing technology advancements that can help you be the best broker possible. Luckily for you, events can provide a place where you learn all this and more – in one place, and often in just one day.

Events allow you to learn the topics that are influencing the market from the key-note speakers, as well as taking part in workshops or individual roundtable sessions that will offer you the change to interact more closely with your peers and ask the important, burning questions from the presenters.

  1. And they may be CPD accredited!

A really key pull for many brokers is that the majority of industry events will enable you to gain all-important CPD hours. Conferences and event may have been accredited to provide structured CPD to those that attend. This means that the events will provide directed ‘study,’ and will have clear and precise learning objectives in place for the delegates.

Mortgage Brokers need to complete a minimum of 35 hours of continuing professional development (CPD) each year, of which 21 hours should be structured. So in our industry, it is important to ensure that you are improving your knowledge and gain continuing professional development hours each year and events are the perfect place to do so.

Need a few more benefits?

  • Many events, like Mortgage Vision, are free to attend!
  • They’re informative and allow you to meet new people
  • You can motivate yourself simply by being in an educational environment
  • You will impress your customers by being up to the minute with the very latest news and views

The real trick to events is to go with clear objectives and plan your day to get the most of your time. Whatever your reason for going, we would love to hear it. Tweet us with the hashtag #MVision17 and let us know your top motive for attending events.

Technology in the Mortgage Market

It’s been thirty years since we first introduced our mortgage software to the market, and it has been a vital tool which has revolutionised the industry in terms of technology ever since.

Technology is constantly evolving in its nature, but its particularly interesting to see it used so much in an industry that has, for the most, part stuck to what it knew best and not ventured into unknown territory.

But where can it go from here? And will the mortgage industry be as happy to welcome yet more changes?

Thankfully, we can hope that, because it has become accustomed to new technology before, the industry will be more likely to welcome future technological developments.

Where did it begin?
In 1986, we introduced the first ever piece of mortgage software, but with some drawbacks due to technology itself still evolving into the type of system we needed for it to really take off.

Fast-forward to 2004 and M-Day, which propelled the mortgage industry forward in terms of technological advancements. It revolutionised the way brokers worked, however, the sceptics were out in force: asking how the existing mortgage systems would cope with new demands.

As we know, it did more than just cope, leaving the mortgage industry and the brokers working within it a bit happier about the idea of using technology in their line of work.

But where are we now?
After M-Day, technological advancements took a giant leap; it allowed us, and other mortgage solution suppliers, to create systems which were faster working, easier to use and up to date – waiting times became a thing of the past, and the client became more involved with the introduction of social media, apps and bigger and better websites.

And what do we predict for the future?
Technology is a hard one to predict: faster software, holograms, robots – who knows?!

It does seem that as time goes on, the industry is more accepting, and welcoming, of technological advancements, especially if it makes their job smoother, quicker and easier – as that usually means more business too!

Following on from M-Day, and 2014’s Mortgage Market Review, this year’s Mortgage Credit Directive requirements have enforced more change in the market.

In five years’ time, we think there will have been various advancements, including:

– More systems integration
– Integrating the tablet more
– Remote video – Skyping your broker!
– The (further) rise of Apps

After that, who knows! Technological advancements mean that exciting times are ahead for the industry, and for MortgageBrain too. We can’t wait to see what the future has in store – even if it is robots!

What makes a good Mortgage Adviser?

What makes a good Mortgage Adviser?

Figures released by the Financial Conduct Authority (FCA) showed that just two years ago there were around 10,000 mortgage advisers, 4000 IFAs who offer some mortgage advice, and another 4000 advisers working in banks. It is believed this number will have increased significantly over the last two years. So why should someone choose you to be their Adviser? What makes a good Adviser and how can you stand out?

We have pulled together some of the most important attributes and skills we think make a good mortgage adviser:

1. Referrals and Awards
An Adviser who has a constant source of referrals is clearly doing something right. If you are sourcing customer of Mortgage Brain and use either MortgageBrain Classic or MortgageBrain Anywhere then you will automatically appear on the consumer app UKMortgages. This app as of January 2015, had been used over 1million times on both android and iPhones and can be found in the relevant app store as well as on the internet. When you have received a referral it is best practice to asking where they saw your details. Perhaps even ask your new client to write you a short reference that you could use on your website or on your LinkedIn profile, a great way to generate leads.

They say word of mouth is the best form of marketing, and I think we’d agree. If you have been recognised for your skills, then don’t be afraid to shout about it, use your website, LinkedIn profile and email signature as ways of sharing the news. We were proud sponsors of the first ever Independent Mortgage Broker award at the ESTAS 2015. The largest and longest running awards in the UK property industry. Winners are selected purely on client feedback providing an incredibly powerful marketing message for successful Advisers and agencies.

2. Financial planners
A good Adviser has to ensure that his/her client can afford the mortgage they are looking for. Mortgages post Mortgage Market Review in April 2014 must fit into a household’s overall financial situation and goals, which often involves challenging but important questions. Some of the things that you have to ask and be able to ask are: What is the best type of mortgage for this borrower? How much should the borrower put down? Will it pay the borrower to refinance? Should the borrower consolidate other debts in a refinance? This list is by no means exhaustive, and is dictated by the rules put down by the Financial Conduct Authority (FCA). Our compliance and customer relationship management system, the Key ensures that you remain compliant at all times as you communicate with your clients. The budget planner and rate shock in the schemes list in MortgageBrain Classic will help you to determine and fulfil the criteria as set out by the FCA, before you get close to suggesting a mortgage to your client.

3. Industry Knowledge
This comes with experience, and there are those with a vast amount of it. Displaying and proving that experience to your potential customers is not always easy. However there are ways a good Adviser can perhaps demonstrate this. Specialist website plug-ins such as best buy tables or mortgage calculators on your website are a great way of showing the latest and best deals on the market to those who may be interested in using your services.

Offering a whole of market sourcing service to your mortgage customers is also something that should appeal to anyone looking for a mortgage. An understanding that you will be providing your customer with information about all the products available rather than a few chosen ones is a something to certain shout about and also provides confidence in your knowledge and an element of trust. All of our sourcing products are whole of market if you are directly authorised.

At Mortgage Brain, we have our own dedicated Mortgage Brain LinkedIn Group for both Advisers and business partners who can find out about the latest industry news, best practice, our latest software updates or new releases. You can join in on discussions and network with other like-minded professionals in your industry. A great way to ensure you are doing all you can to be a good mortgage Adviser in a tough and competitive market.

4. Keeping clients Informed
Communication is a key attribute to any good mortgage Adviser. Clients will want to be kept informed, whether there is no news to report or if matters are proceeding on schedule. A good Adviser will monitor their client’s mortgage for its entire duration to ensure that the client is made aware of the best mortgage deals to suit their circumstances now and in the future. An Adviser that regularly checks rates and informs his or her clients of any better rates and deals available will earn the trust and confidence of any customer, as after all this is one of the largest financial commitments a borrower will ever make.

Adding your social media accounts or linking a blog to your website is also an excellent way of communicating with your clients in an unobtrusive way. Providing snap shots of your daily activities, or providing links to information that would prove useful or show your prowess in an informative way is another way of differentiating you from the next Adviser!