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CML: Mortgage arrears and possessions conference at the The Midland Hotel, Peter Street, Manchester, M60 2DS
Intermediaries boost income
The tightening housing market is forcing brokers to find alternative income streams, reports BM Solutions.
The most popular way for intermediaries to supplement their income comes through conveyancing referrals, with just over a quarter (26 per cent) going down this route.
In addition, 22 per cent say that they are considering advising on other financial products, with 7 per cent looking at cross-selling payment protection insurance (PPI) as an option.
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."
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