Advisers urged to utilise Brexit remortgage opportunities

Stonebridge Group is urging advisers to focus on post-EU Referendum opportunities, particularly in the remortgage and protection markets.

Related topics:  Mortgages
Rozi Jones
4th July 2016
EU house Europe flag Brexit
"If you are able to save clients money by remortgaging then we would suggest you also focus on bolstering their protection cover, perhaps by using those mortgage savings."

With Mark Carney signalling a further cut to Bank Base Rate over the summer, and lenders actively repricing in order to secure business volumes, Stonebridge believes many existing borrowers could benefit from remortgaging.

In particular, it is urging advisers to contact those clients currently sitting on SVRs who are likely to be able to save considerable sums of money in the competitive rate environment.

It is also asking advisers to look at the savings clients can make in remortgaging and to review how that money might be used to increase or initiate protection cover.

Richard Adams, Managing Director of Stonebridge Group, commented: “Understandably, given the uncertainty, many clients will be nervous about the current direction of the economy and how things might play out, in terms of our negotiated exit from the EU. Add into this potential fears around the increased likelihood of job losses, and you can forgive clients for being wary about what might happen next and the potential negative impact this could have on their individual circumstances.

“Despite the negativity around at the moment, there are a number of areas where advisers can undoubtedly find business opportunities, not least the remortgage market which is incredibly competitive and (with any cut to BBR) will continue to move in this direction. If you are able to save clients money by remortgaging then we would suggest you also focus on bolstering their protection cover, perhaps by using those mortgage savings. Given the circumstances, if now isn’t the time to be talking about protection, then I don’t know when is.

“This is all about providing clarity and certainty to clients and ensuring they have the right mortgage and protection cover to deliver the peace of mind many are seeking.”

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