The all-status lender has set itself the task of originating in excess of £325 million of new mortgage business in 2002 – and Gary Forrest, the joint managing director of High Street Home Loans, recognises that the development of a first class distribution channel is a top priority for HSHL as it sets about realising its goals for 2002.
"We’re about to launch a major campaign that will be very attractive to mortgage intermediaries who want to maintain high levels of profitability and, at the same time, exercise more control in the lending process," said Mr Forrest. "The firms we’d like to be working with will be able to demonstrate that they already have a good distribution channel in place and have experience of doing packaging, albeit on a limited scale."
The HSHL campaign will involve using advertising in the trade press and communicating directly with intermediaries. It will highlight the many benefits of doing business with the Newcastle-based lender, which include:
"We’re keen to talk to companies and individuals who are currently processing between 30 and 40 mortgage applications a month and who have the infrastructure in place to deliver valuation reports and process client applications," added Mr Forrest.
"I’m confident that our campaign will be successful. After all, it’s common knowledge that the industry is becoming increasingly competitive and margins are reducing. I would hope, therefore, that by enabling intermediaries to maintain and increase margins by taking more responsibility for the initial processing work, High Street Home Loans’ position in the market will be greatly enhanced."
