Brokers urged to revisit their client books
The First Complete and Pink networks have urged mortgage brokers to contact their clients to see if they want to remortgage before the end of the year.
After the Bank of England cut the base rate to 0.25% in August remortgage rates have fallen to record lows in some quarters.
And since the market commonly pauses for breath over Christmas securing remortgage business may be the most achievable.
Karen Hedges, mortgage manager for First Complete and Pink, said: “As 2016 draws to a close, brokers must continue to be proactive.
“Advisers mustn’t assume the customer will just pick up the phone to them.
“Today, there are strong opportunities for brokers to help borrowers across the UK to reconsider their current mortgage deal, and potentially save them money on a monthly basis.
“What’s more, it is also a prudent time for brokers to talk to their clients about their protection needs as there is a real opportunity to strengthen client relationships.”
Three in five (60%) housing transactions occur because of changes to personal circumstances such as a new job, divorce or another life-changing event.
Therefore the networks said it’s crucial brokers find out what’s happening to take the necessary action.
In the past month First Complete and Pink have been spreading the word across the country at their ‘mortgage forum’ events.