First of all I would like to wish a happy and prosperous new year to all of you.
As with every New Year I am sure, like me that the usual resolutions that you made are already long forgotten about. I know I have, much to the annoyance of my wife, due to the list of resolutions that I gave her.
However I also did decide that if I could make resolutions within my sector of the industry then it would in my opinion make it a much easier and better place to work.
Let me give you a few examples of what I would consider to be resolutions that would help.
Single Premium Payment Protection Insurance- Within the secured loan industry there is certainly room for improvement here. Over the past six months there has been significant improvement in the quality of the product in our sector of the market and with new lenders arriving there have also been innovative products which are completely new to our sector. This is a step in the right direction however I would like to see continued thought going into this as I believe that there is a place for this product providing the cost factor is looked at. My first resolution would be for the lenders to
continue to try and make this product more acceptable to the market place.
Association of Finance Brokers. It started with a grand launch at the House of Commons which I was really glad that I made the effort to attend as The Right Honourable John Gummer MP came across as a person who was genuinely interested in the way our industry was going and that he would always act in the best interests of it. However my resolution for the AFB would be that they try and attract all secured loan brokers to become members and that they do this by showing that they have teeth and that they can get lenders and regulators alike to listen to them and that they do become a single voice for the industry that is respected. It is essential the organisation can get things done for a rapidly growing market that in 2007 will need this type of trade body in the same way that other sectors of the industry have.
Lenders - This is something that I have mentioned before and I must admit that it is disappointing that some of them continue, in my opinion to take the business that they receive from brokers for granted without considering the effects on someone who may have loyally supported them continuously. I am referring again to the much publicised criticism of the single premium payment protection when I felt that the lenders could have done a lot more to speak up for this product but it was left to the brokers who as everyone is aware now get a great deal of business from IFA’s to fight the corner on behalf of the lenders products. So come on lenders help the people who are supporting you.
Introducers - This one is purely selfish as more clients will always make your business life a lot easier. So let’s hope that all the advertising and articles that Secured Loan Brokers like Access do will continue to raise the profile of our products and continue to make them an important part of the mortgage industry and that 2007 will be the year that secured loans are always given as an option when necessary for someone considering raising capital while using their home as security and that a
remortgage is just assumed to be the right product.
Here’s to your resolutions! mi
