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Brokers urged to link with estate agents

Emba group sales and marketing director Mike Fitzgerald says mortgage brokers should form partnerships with estate agents in the coming year to cope with the economic climate.

Fitzgerald says the relationships provide a good source of new clients for brokers.

He says: “A lot of estate agents have let their in-house mortgage people go. A couple of years ago, brokers were not going to estate agents and saying, look, we can do all of your mortgages. Now there is a case for going to these guys and saying, why don’t we form some loose association so we can forge ahead together.”

Savills Private Finance managing director Mark Harris says: “I think we are going to have a very difficult remortgage year and I do not see rates going anywhere. Therefore, being aligned to the purchase market is very important and if you are lucky enough to have access to purchase business via an estate agent partnership, then that is great. It is a great source of business.”

Mortgageforce managing director Kevin Duffy says brokers should be continually looking at these types of relationships, not just when the market is depressed.

He says: “Brokers should be prospecting high-street estate agencies as a matter of routine and should not necessarily wait to see if a competitor broker sits in an agency shop window.”


Lenders expect to tighten credit scoring criteria in coming quarter

Lenders say they have tightened their credit scoring criteria in the second quarter and expect to tighten it further over the next quarter, according to the Bank of England’s latest credit conditions survey. They believe the changes reflect a more cautious approach to assessing the ability of borrowers to cope with higher loan-to-value mortgages and […]


Pensions: What will the next 12 months have in store

Last year saw more changes to pension regulation proposed than at any time since A-Day and 2011 is not going to provide much of a let-up. From April 6, pension tax relief is to be restricted with the annual cap on tax-relieved contributions reduced from £255,000 to £45,000. However, while the cap has been reduced, […]

Invesco Perpetual launches Asian equity income fund

Invesco Perpetual is to launch an Asian equity income fund. The fund will be managed by Stuart Parks and Tim Dickson and will invest primarily in Asia and Australasia (excluding Japan). The fund will target a dividend yield of 120 per cent of the MSCI Asia Pacific ex-Japan index. Parks says: “In tandem with their […]

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David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.


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