Lean on your club for support this year

It's set to be an interesting year for the intermediary market. MCD regulation comes into effect in just a few weeks and for certain corners of the market - particularly specialist lending - it's all change.

Phil Whitehouse
26th January 2016
Phil Whitehouse MCI Mortgage Club

As I’m sure many of my industry colleagues will agree, at present any industry event or informal meet up is dominated by MCD talk. These occasions serve as an opportunity to swap ideas and share advice and they’re extremely useful.

However, I often visit directly authorised intermediaries who work from home and don’t have the opportunity to interface with colleagues. For small scale brokers and one man bands who perhaps don’t have much contact with anyone else involved in the mortgage market, the regulatory changes coming into play this year may be particularly daunting.

I have been in this industry for a long time yet even I benefit immeasurably from being able to access the advice and support of my peers. For those brokers who don’t have the opportunity to swap stories and ideas, these must be worrying times.

It is in these situations where a mortgage club can be particularly useful.

Mortgage clubs host training and CPD events and brokers should look to attend not just for the training element but also for the opportunity to engage in dialogue with like minded people.

Clubs can also supply information to and liaise with lenders, insurers, trade bodies and the regulator. Use your club as your mouthpiece. Get the message you want to get across heard. And ask the questions that will help your business.

Utilise any training or information materials supplied by your club.

Remember, mortgage clubs want to add value to their offerings and they do this by providing support to their members - take advantage of that support.

Maintain regular contact with your club to benefit from the helps it offers. Don’t just think of it as a payment route, get real value from it.

If you don’t feel like you are getting the support you need, change clubs. Align yourselves with a club that can offer real, lasting benefits rather than one which tries to tempt you with cash and other short-lived incentives but offers little real support.

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