Advisers are looking for greener pastures: A&L

  • Story by: David Pawsey
  • Magazine: MortgageAdviser
  • Published Wednesday , May 07, 2008

More than two-thirds of intermediaries are considering diversifying their business in the current climate, research from Alliance & Leicester has shown.

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Almost seven out of 10 (69 per cent) mortgage advisers said they were planning on looking to other areas to increase revenue streams.

However 26 per cent said they would continue to focus on their normal areas of business. Commenting on the research, which was carried out exclusively for Mortgage Adviser, Raj Uppal, director of mortgages for Alliance & Leicester, said: "While selling mortgages will remain the key focus for intermediaries, lenders are not undertaking the volumes of mortgage lending they have done in the past.

"As a result, advisers will have more time to spend on each client and research carefully what other products could be of benefit to them.

"Historically in the UK, people with mortgages take little out in the way of protection policies and in light of uncertain market conditions, this is an area of focus that intermediaries may be looking to focus on over coming months.

"There are many products on offer that could support a mortgage loan and offer peace of mind for borrowers if they were for any reason unable to work."