Brokers to concentrate on ancillary products

Those in mortgage intermediary sales jobs have been advised to concentrate on ancillary products boost figures through the credit crunch, it has been revealed.

Mortgage sales have been hit during the credit crunch, with recent figures from the British Bankers Association indicating a 40 per cent year-on-year fall in mortgage approvals in last month.

According to Phil Whitehouse of The Mortgage Alliance (TMA), intermediaries should concentrate on the general insurance and legal sales to see them through this critical period.

He told Mortgage Solutions: "The current financial climate demands that as an industry we knock on doors to new sectors, evaluate all aspects of the market and investigate chinks of light in which new services, new revenue and new business alliances could spawn."

Mr Whitehouse also notes that these new sales jobs avenues will help client retention.

Meanwhile, Darren Cooke of Moneyfacts.co.uk has remarked to OnlyFinance.com that big lenders are now approaching mortgage borrowers directly, rather than through intermediaries.


As a recruitment provider to many of the UK's major banks, mortgage lenders and building societies Aaron Wallis have a deserved reputation within Financial Services recruitment. Their dedicated FS consultants recruit sales professionals across Retail Banking and Financial Services including IFA’s and Mortgage Broking.

Filed: 27-05-2008