To be a winner in the mortgage market, distribution is key. Lenders need a variety of distribution channels to sell their products.
Since regulation, lenders have been carefully deciding who they want to deal with in the future. Who can deliver volume, come up with interesting product ideas and sell to order in specific markets? Some may be looking at criteria changes and want to pilot tweaks through certain channels before widely marketing the product. So, for the lender it’s important to have a variety of channels that target specific types of business.
For a network, a lender looking to increase market share is attractive, as it will be interested in networks designing a product that will sell, and then look forward to exclusives to offer to their members. So what is the key to developing and selling an exclusive? It’s about knowing how to design products for which there is a need and demand, but that also fit with the lender’s margins and criteria.
Networks have learnt the requirements of their membership over time, and that’s why established distribution channels have a clear vision of the exclusives they can sell. At the end of the day, the market is about choice; of product, service, technology, and people. In a people business, we like to deal with people we trust. But we cannot forget that rate is key too. mi
