BM Solutions News

8 in 10 brokers looking for ways to maintain their income

27 September 2007

Brokers are getting ready for the impact of a tightening housing market. According to latest research from BM Solutions, nearly 8 in 10 (78%) say that the current market situation has prompted them to look for ways to either increase or maintain their income.

The latest One Specialist survey asked over 300 intermediaries whether a tightening housing market has encouraged them to search for additional income streams.

The most popular way that brokers are looking to boost their income is through conveyancing referrals, with just over a quarter of brokers (26%) looking at this option. Slightly fewer brokers (22%) say that they are considering advising on other financial products, with just 7% looking at cross-selling payment protection insurance as an option.

Commenting on the research, Phil Rickards, head of sales at BM Solutions said, "The housing market is still very strong, underpinned by solid fundamentals. However, as the market slows, it's inevitable that brokers will look for additional sources of income. We've recently relaunched our conveyancing service which can provide an extra income stream for brokers, and we'll continue to support them with our five star service."

BM Solutions is the UK's number one specialist lender, providing market leading products in the Sub-prime, Self-cert and Buy to Let sectors. Five star service is supported by forward thinking technology: recent process enhancements include emailed confirmation of offers to the broker, Buy to Let multiple applications copy and instant offers, all delivered through the comprehensive One Minute Mortgage system. Visit bmsolutions.co.uk for full information of online service features.

For further information contact:

Emma Partridge
emmapartridge@hbosplc.com
Press Officer

Clare Mortimer
claremortimer@hbosplc.com
PR Manager