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BM Solutions urges brokers to boost business by internet

Brokers are failing to use the internet properly and are losing business as a result, according to BM Solutions.

A survey by the lender found that only 53 per cent of the brokers surveyed in its research had a company website while 52 per cent get no new business through the internet.

Less than 6 per cent of respondents get more than 20 per cent of new business from online sources.

BM spokesman Matt Grayson says: “These findings suggest that brokers are not using online developments enough to attract and secure new business. It is definitely an area worth looking at. There are lots of opportunities to use web promotions to attract potential clients who are surfing the internet for information.”

Standard Life Bank is now offering a web service for brokers offering immediate decisions on most mortgages and key facts illustrations to print.

The firm is also offering intermediaries a flat 100 fee, in addition to their commission, for every completed online case.

Head of sales Jackie Moran believes it is vital that more lenders step up their online presence to generate business and help comply with anti-money laundering rules.

She says: “The more tech-nology that you have, the easier it is to carry out checks. We want to manage risk as an industry to ensure that we are doing business with the right people.”


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