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Guide to offering mortgage advice

Published by FTAdviser | Nov 17, 2011

Make sure that you are meeting your regulatory requirements and getting the best deal for your clients by reading our guide to offering mortgage advice.

Answers have been supplied by the FSA, Brad Fordham, head of sales at Abbey for Intermediaries, and Stephen Smith, director of housing at Legal & General.

  1. Q: What are the FSA rules when talking to a client?

    On first contact with a customer the adviser should provide an appropriate initial disclosure document.

  2. Q: What should I ask a client?

    A good client interview is an opportunity to start to build a long-term relationship with a customer, according to Stephen Smith, director of...

  3. Q: How do I ensure my client gets a decision asap?

    An initial checklist of questions will help establish whether the client is likely to be eligible for a mortgage, according to Brad Fordham, head...

  4. Q: How important is the lender’s financial strength?

    Having confidence in the financial strength of a provider is something that has become much more important to consumers since the onset of the...

  5. Q: How important is a lender’s service standards?

    Service has become an increasingly key differentiator, according to Brad Fordham, head of sales at Abbey for Intermediaries.

  6. Q: How should you use a sourcing tool?

    A sourcing tool can add real value to intermediaries in three key ways.

  7. Q: How should you compare mortgage products?

    Mortgage products should always be compared on a fee-adjusted basis to establish the overall cost in terms of rate, product fee and any benefits...

  8. Q: Should a protection product be recommended?

    It is important to consider the client’s protection needs, alongside their mortgage needs to do the full brokering job.

  9. Q: When should protection be recommended?

    Protection needs should be discussed as a package alongside the mortgage, according to Stephen Smith, director of housing at Legal & General.

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