The Association of Mortgage Intermediaries’ (AMI) has revealed the results of its November census.
The feedback demonstrates that mortgage intermediaries are committed to maintaining existing client relationships, and place limited reliance on lead generation companies for new business purposes.
Only 36% of respondents have used lead generation firms within the last 12 months, and 77% of these firms reported a conversion rate of less than one quarter where leads had been bought. As many as 69% of firms did not see purchased leads as important to their business.
An overwhelming 79% of respondents confirmed they have made arrangements to allow ongoing contact with their clients. Furthermore, 39% of respondents also maintain regular contact with their existing client bank via alternative means such as newsletters, brochures or other circulars.
Chris Cummings, director general of AMI, said: “The results show that mortgage intermediaries place high value on their existing client base, and that they are committed to building and maintaining long term relationships with their customers. The benefit of this to customers is clear – they will continue to receive ongoing professional advice and support, which meets their needs and circumstances.
“The feedback should also concentrate the minds of those who do buy leads, as too few lead generators deliver the level of service expected. Those intermediaries who do use them should vet firms accordingly.”
