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60 per cent of brokers opt for speed

Amanda Jarvis

April 20, 2006

The most recent One Specialist survey, questioned over 200 intermediaries, about what matters to them most. The survey asked ‘What are the most important factors when choosing a lender once suitable products have been identified?’

Highlights

Respondents showed that having identified suitable products for a client;

–        The most important factor in deciding on a lender is the speed of processing from application to offer. With 45 per cent of respondents rating this as the most important and more than six out of ten rating it as either the most important or the second most important factor.

–        Following app to offer the next most important factor is past experience of the lender at 31 per cent.

–        The third influencing factor is online service at 30 per cent.

–        Online service has become more important (up from 19 per cent to 30 per cent) and was the only service factor to show a significant increase in importance.

The results clearly demonstrate that lenders service levels and speed are vital in receiving broker business. It also highlights the fact the lenders cannot afford to become complacent in any aspect of their intermediary relationships; brokers will place business according to previous experience.

Commenting on the findings Tim Hague, director, BM Solutions said “The results from this survey very much mirror the regular feedback we receive from brokers. BM thrives based on our partnership approach with the broker market. We know the importance of speed and five star service.”


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