Speaking at the Mortgage Business Expo in Belfast, Gerry Bell, head of mortgage marketing at GE Money Home Lending, said brokers should look at the UK and Republic of Ireland markets, as well as overseas, to increase revenue streams
Bell outlined the key business growth opportunity in the UK as remortgage activity, with brokers sitting between cautious buyers and lenders looking to minimise risk exposure.
Bell said: “Going forward, remortgage activity will make up the vast majority of business in 2008. Similarly, other growth opportunities lie in the near-prime and light adverse markets, as well as the commercial sector.”
Opportunities in the Republic of Ireland lie in the specialist lending sector, with rising levels of indebtedness driving this market forward, he claimed.
However, Bell warned that striking a balance between balance sheet lenders and those who securitise in order to spread the risk, as well as looking for assistance with regulatory and compliance issues from networks before entering the markets, was crucial.
Bell also identified overseas potential in those looking for holiday homes, investment opportunities and those looking to relocate overseas.
Ken Sives, partner at Sives Financial Services, said: “That is happening at the moment but investors who bought two years ago have now jumped ship and bought on the mainland, so he is about five or six months off the mark with that comment.
“People have said that they are buying in the North of England in places like Manchester and Newcastle, where you can still get good value, while the same property can be double the price here.”
