Over the last couple of years the sector has been suffering the effects of bad press and a huge marketing push by lenders keen to woo customers direct. Media coverage of dodgy brokers has done little to help the industry’s reputation and the banks efforts appear to have paid off with fewer mortgages being signed up through introducers.
Lenders may have gained market share, but intermediaries still play an integral role in the process and the number of deals they land is still significant. Certainly, throughout Goldsmith Williams’ lifetime, the introducer has been, and still is, an essential part of our business.
In the complex world that is mortgage lending, intermediaries can help customers navigate their way through an almost endless list of products and bring clarity to intricate terms and conditions.
Adopting the collaborative approach has set Virgin Money in a good light with introducers and I have no doubt it will be remembered during discussions with clients. Not only that, but combining Northern Rock’s experience in the intermediary market with the Virgin brand creates a force to be reckoned with.
Delivering that proposition through a very visible High Street presence is a clear sign that Virgin Money sees the value introducers add.
