Directly Authorised Brokers – You have more options

The power is in your hands

There are pros and cons to just about everything in life. You attend the British Specialist Lending Awards for example. Pros? Specifically, you have a fantastic night conversing with the industry’s finest. Cons? In addition, you realise there is still a working day left in the week, and it’s before a bank holiday so it’s going to be a busy one, and your head just wants to be somewhere quiet. You get the picture.

And the same can be said for joining a network. We hear a lot about what networks are doing for their ARs. But, as with anything, there is a downside. If you’re an AR the fact is the network calls the shots. By the very nature of the set up, that’s how it works. And thus, if you’re directly authorised you do have a certain freedom when it comes to how you approach each product and, in this case, how you approach seconds.

Indeed, the biggest benefit of being a DA is that you have ultimate control of your business. And as a result of that we do find that many DAs are particularly open minded about the industry. Because they have no restrictions on them they are more willing to embrace change and while many brokers still haven’t quite grasped seconds if you sit down with a DA broker and explain the product to him you can usually almost see that light bulb moment occur.

Key Criteria & Application Guidance

My point is simply this. DA brokers, you have a choice. You can decide whether you want to include second charges in your proposition fully and how you want to offer them. You can build relationships with the master brokers, specialist credit brokers and lenders you choose to. So, to those of you who have yet to get involved, why not?

Offering second charges can help to enhance your offering, bring you customers who might otherwise have gone straight to a comparison site and who could end up being more suited to a remortgage than a second anyway. It can increase your protection business because you’re seeing customers who you may not have had anything to offer in the past. And it can ensure you don’t lose any clients to competitors who may have a more diverse offering than you.

If you have no one dictating whether you should offer seconds and how you should do it, what’s stopping you?

www.promisemoney.co.uk

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