Once a broker gets comfortable with a sales process for seconds then attitudes and opportunities change. If every capital raising remortgage is a potential second charge then the reverse is also true.
Brokers proactively promote seconds to their client bases and to their introducers in the knowledge that each resultant enquiry can be considered for a remortgage.
As a sales message “I offer both first and second charges and will advise on which is suitable” sounds so much better than the alternative of limiting your scope and advice.
If you need any further convincing – ask your clients or introducers where they would go if they wanted a £15,000 loan. If it’s you then maybe most of the hard work is done – just refine your process to deal with it properly.
If they would apply elsewhere then, not only are you missing an opportunity, but everyone of those relationships is at risk of being poached or being resold by an online comparison site to another broker. Why take the risk?
Steve Walker is managing director of Promise Specialist Lending
