The best sourcing gets even better

We’re always looking at different ways we can enhance our offering to you, and we’re excited to be launching second charge sourcing functionality in our systems very soon.

It will be a new chapter in mortgage sourcing, as our whole of market first charge online and offline sourcing systems will now include second charge products. You will be able to compare first and second charge products side by side, so it will be much easier to advise and offer your clients alternative lending products

One system for everything
Back in January 2016 we launched LoansBrain, our free second charge loan sourcing website, allowing advisers to source and refer to a Master Broker or simply advise on second charge products to their customers.

The choice of products direct from lenders or Master Brokers are now wider than ever before, so with the inclusion of second charge products in our mainstream first charge sourcing systems, you know have the option to source both first and second charge loans all in one place.

Innovative and advanced sourcing
The new functionality will offer you the ability to compare a remortgage with a current mortgage, plus a second charge loan to assess which suits your client best.

Over 200 search criteria in our sourcing systems will help you find the products that best match your client’s requirements and display them side by side, so you can easily compare and decide which would be most suitable. This comparison function, combined with the ability to run and save different scenarios for each client, now means that the second charge loan sourcing capabilities within our systems are second to none.

The new second charge sourcing option will be available to you to select from the main sourcing screen, as well as when sourcing a re-mortgage. The control is completely with you, and that’s what’s so exciting about it.

Watch this space
We will be rolling out the enhancements to our MortgageBrain Classic system users from mid-April onwards and MortgageBrain Anywhere users will receive the update in early June.

We’re incredibly excited to be bringing you yet another quality solution to help you expand your business opportunities as an Adviser.

Mark Lofthouse on the Importance of Client Retention

Last month, our CEO Mark Lofthouse had an excellent opinion piece published online. The column covered the importance of client retention, a significant area vital to mortgage brokers.

We’ve broken down the top points from Mark’s column so you can easily digest the important information that he covers.

Don’t ‘just sell mortgages’
Any adviser who just ‘sells mortgages’ isn’t doing their job as well as they could. Mark explains that a role of a mortgage adviser extends far beyond simply advising and selling mortgages.
They must value each customer as an individual, and treat him or her as such. He says: “It is critical that the needs of the customer are met and the review and advice process should look at the customer’s overall needs and not just their mortgages.”

This will in turn increase your income.
Mark goes on to say that, if you acknowledge the individual needs of each customer, you are more likely to receive a lifetime of recurring business. On the reverse, you may be missing out on a great sum of income because you’re not paying due care and attention to your customers.

Provide a broader service.
Following on, Mark advises that, although we don’t want to be selling customers things they don’t want or need, offering extra services to them is beneficial, as if the client sees the services as good value, “they’ll be pleased you’ve taken the trouble to give them that extra level of service,” thus leading to recommendations to friends and family.

Regular contact is paramount.
Don’t just contact your clients when they are due a remortgage. It is vital that your customers stay in your thoughts as often as possible, and finding out more about them means you will be able to offer them further services in the future.

Mark states: “Finding out more about clients’ financial affairs also gives you a reason to stay in touch, either as a courtesy call every so often or when one of their products is due for renewal.”

Keep on top of the industry.
Mark’s closing points underline the importance of keeping abreast of the constant changes in the market. He outlines a myriad of knowledge about each customer you need to know, such as “knowledge of the prevailing provider service levels, what clients enquired about last time you saw them, awareness of their financial situation, and if you know them well, where they went on holiday or what their children are up to.”

But you can’t store this in your own head! To keep all this vital information, and to ensure you are organised, Mark emphasises the importance of using up-to-date front and back office technology, which everyone has at their disposal and should be taking advantage of, for example, our CRM system, the Key.

Follow Mark’s tips to become a better asset for your clients, and remember that “advising on more than just mortgages might take you out of your comfort zone, but the rewards to you and your clients are well worth it.”

If you would like to read the column in full, you can do so by clicking here.