myi: What are your expectations for this year's London Mortgage Business Expo?
We have strong expectations for this year’s Mortgage Business Expo in the sense that already have nearly 100 exhibitors and 2,000 individuals have registered to attend so far.
We normally see a spike in registrations as the event gets closer so we pleased with where we are at the moment. The important point to make is that attendees come away from the show having gleaned information that will support what they do in their day job.
MBE has always been a networking event but it is also a chance for intermediaries to get a heads-up on potential regulation coming over the horizon, and how it might affect their businesses.
It is also a chance to learn about product areas/methods of conducting business/marketing, etc which they may not have considered before.
Ostensibly we want intermediaries to walk through MBE and plug themselves in to the variety of opportunities that are available in this marketplace.
MBE has always offered something for everyone and our expectations are that this year will be no different.
myi: How will the event benefit visitors?/ why should intermediaries attend the event?
We know that intermediaries do not take a day out of their office without good reason, so (as above) we are looking to present them with enough potential business opportunities throughout the course of the exhibition to essentially ‘pay’ for the day they are taking to come to MBE.
Now, ultimately that day out may not pay for itself in the immediate term however it is likely that a contact made at MBE, or a new opportunity seen for the first time, will eventually come to fruition for that intermediary and therefore make the trip to MBE well worthwhile.
MBE remains the premier mortgage event in the calendar and, we can guarantee that at no other event will attendees have the wealth of products and services available to them under one roof.
Plus with the seminar theatre presentations offered by AMI, attendees can also listen to industry experts about what the future might hold if they can take advantage of new opportunities.
Even if all this is not enough I would suggest that the FSA’s presentation on the future of the mortgage market is worth the trip alone given that we anticipate some significant regulatory changes to the sector in the coming months and years.
myi: what are the major positive changes you have seen in the industry over the last few years?
While no-one would suggest that the Credit Crunch was a good thing and we all know the mortgage market is still some way short from where we would like it to be, there have been some positives to take hold of.
Certainly, we must admire the indomitable spirit of those intermediaries who continue to survive and thrive in this marketplace.
The provision of advice will always be a valued commodity and quality advisers will always be in demand, so this has been pleasing to see.
Secondly, I believe that 2011 will be seen as something of a watershed year post-Credit Crunch because of, for example, new lenders entering the market, the strength of sectors like bridging finance and buy-to-let, and the fact that we are seeing products with higher LTVs, etc.
No-one would suggest that the market is the easiest it has even been however I do get the impression that we are forging our way back albeit with one eye on the wider economy and events in the Euro-zone.
myi: and the negatives?
Any intermediary trading today is not going to be as happy with their business levels as they were in, say, 2006. However, what they might now admit is that we have a much more stable marketplace.
Having said that, there are many potential and existing mortgage customers who are now unable to secure mortgage finance and this is always going to be a problem if we want the market to kick on at any great pace.
We are seeing lenders creeping back to the market in some product areas and, if we are to believe the rumours, then the MMR will not see the banning of certain products as might have been once predicted.
At present, and as a rule in life generally, I think it is important to see the positive in all situations and markets.
Therefore, MBE is always about grasping the opportunity rather than dwelling on what has gone before.
