The broker event was organised to get feedback from mortgage advisers on their view of the mortgage market in general and the future of lead generation in particular. The brokers present felt that the difficulty in placing business made it more urgent than ever to team up with a good lead generator as a source of cost effective and quality new business.
The networks present felt strongly that lenders would focus on controlling distribution channels and that lenders’ focus would be on the quality of business supplied, not the quantity, saying that it was more important than ever that any brokers who want to be part of this distribution secured good quality business.
The day revealed strong sentiment that broker / lender rivalry will increase, with the networks feeling that lenders will be the ultimate winners choosing what type of business they want and from whom - making it increasingly important for advisers to source new business from a lead generator that provides high quality leads.
It was felt that the pressure from lenders would inevitably cause brokers to change their business models to fee charging, but this had to be balanced with the risk that in doing so, the fee may make it uncompetitive for borrowers to change rate, resulting in more borrowers remaining with their existing lenders.
Grant Stevens, managing director of Leadbay says, “Quality of business is going to be increasingly important as the market moves forward. As it becomes ever more difficult to place mortgage business, it becomes urgent that advisers find a cost effective source of good quality new leads in order to maintain their income and keep them in business.”
Leadbay was the first lead generator to enable advisers to set their own price for leads and buy at the times that suited them best.
