As a board director at Unity Homeloans, and chairman of All Types of Mortgages (AToM), it bemuses me as to why lenders still seem determined to track business, which has a less than 50 per cent application-to-offer ratio, compared to business introduced by brokers through packagers, which generates a much more rewarding 85 per cent plus conversion rate.
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Also, if it is determined to go this route, why go to the expense of setting up a new lender and all the attendant issues which go with that, including new Financial Services Authority registration, staff, management teams, etc, rather than convert one of the current three brands? I am sure it has its reasons, but this does not, on the face of it, seem to make economic sense to me.
Victor J Jannels
Group executive chairman
AToM
