Where to find a good Mortgage BrokerHow to find a good mortgage broker
Agents need to say whether they are acting for a particular creditor, a group of creditors or whether they are choosing from the entire one. You should also declare mortgage termination bonds when they are used, especially the fact that while the bonuses are being paid by the borrower, MIG policies are protecting the borrower. Also, if an policy needs to be taken out with a mortgage, it should be declared.
Over 40,000 brokerage firms have now joined the system.
Unit 1 - Be where your customers are and make it easier for them.
By the time I was 16, when I graduated from college, I knew I wanted to find a career in which I could make headway, but I wasn't sure what it was going to be. At LIFT, I came as an intern in the Customer Finance Assistance group, and after graduating from NVQ in Business Administration, I switched to the Mortgage group.
And I also felt that I could learnt a great deal from the folks who were already doing the work I was working towards - becoming a mortgage advisor. After 18 month of working in mortgage management, on the telephones that handle customer cases on my colleagues' front lines, I was excited to see the other side - meet customers in person in the first phase of the proces.
First thing I saw was how early everything begins in the city, and since our prospective customers start their working days at 7.30 a.m., we had to be available at that as well. Unit 1 - Be where your customers are and make it easier for them. It was a meeting that was almost every meeting.
As Dave has a large number of customers working in finance companies in the city, most of the daily work has been done in and around these bureaus. I was impressed by the diversity of the individuals we encountered, each with their own needs. Initial purchasers - they needed much more guidance, hold more ( not literally!) and explain the mortgage making processes; customers who had previously taken out mortgage loans through LIFT and wanted a re-mortgage - they were hopeful that they were in good hands as they had already seen our services so they were interested in the detail of what business would best fit their present circumstances; A buy to let customer - a much rarer phenomenon these few days since the changes in taxation regulations and stamping taxes, but still a practical choice for some as well.
In the case of some first-time purchasers, the mortgage advisor must clarify the different kinds of mortgage available and may have to clarify things such as repayment before assisting them in the process of applying themselves.
Unit 2 - Communication must be tailor-made for each customer. Usually I deal with real estates brokers and mortgage providers, follow papers and update customers. I was impressed by Dave's understanding of the business on my customer interview days. He had rate, expressions and more in his mind so that he could immediately tell clients which lending institutions might be a good fit for them.
Our relationship with many tailor-made creditors will look at every single use, making this understanding of the business much more important. Unit 3 - Keep abreast of all mortgage offerings available to customers and make sure you know the details behind each one.
When I shadowed Dave in his meeting, I realized how important it is to reassure customers. Of course, everyone has a different way of doing things, but establishing a relationship with someone can make the big deal whether you first get a customer and then keep that customer with you for the long being.
During one of our encounters, someone who has been a customer for over five years was on his third re-mortgage. Dave was very grateful for his openness and competence. He has gained his allegiance through his many years of working with Dave and the remainder of the group.
Unit 4 - Customers are not just numbers on one page. Spend your spare moments building a relationship and a sense of purpose and you will be awarded with your allegiance. After seeing each customer personally, I have a much better grasp of 1. The entire mortgage cycle and 2. The value we can add to human beings by calming them down and reducing the stresses of mortgage-application.