A prominent intermediary market

Amidst a relatively healthy economic outlook, a sustained low interest rate environment, increasing competition in the product arena and a welcomed resurgence within the remortgage sector - there’s every reason for the intermediary market to move into the final quarter of 2015 with great optimism. In short, the market is now in a far stronger, more robust place than it has been for quite some time. And, importantly, the intermediary market is seeing a much welcomed rise in prominence.

This is a marketplace which has long been highly valued by a vast number of lenders, but in light of many recent regulatory shifts it is one which increasing numbers have become heavily reliant upon. This means it’s more important than ever for an array of providers to fully understand the needs of the modern day mortgage intermediary. Actively seeking feedback is a key component in this. Listening to the needs of intermediaries will inevitably lead to being in a better position to provide the right products and levels of support to help maintain a strong working relationship. Which is why, here at Barclays, we created our In Tune campaign. The aim of this campaign is to encourage the intermediary community to share their opinions about our proposition, good or bad. As part of this we have a dedicated team reviewing comments, not only from this campaign but also via our contact centre and our Business Development Managers’ network.

Constantly improving intermediary engagement should be high on the agenda of any lender or service provider. And this extends to face-to-face as well as a variety of other mediums. Fortunately, via two of the industry’s largest events, there are some great opportunities to do just this. Firstly is the Financial Services Expo which holds four events throughout the year, and then we have Mortgage Business Expo London which takes place in October.

These events continue to prove themselves as two of the largest draws in the intermediary calendar. I expect stands to be buzzing with activity and seminar theatres packed to the rafters, especially when the regulator takes the podium. Inevitably many questions on a variety of intermediary’s lips will be regarding the impact of the impending Mortgage Credit Directive and how lenders will be putting this into practice. We have already gone on record saying that we will begin implementing our phased approach from November to allow full compliance with the March 2016 deadline.

To elaborate further on this Tony Fullbrook, policy and regulatory manager at Barclays, will be filling one of the seminar slots at MBE in October. So if you’re interested in hearing how and why Barclays is taking the steps that it is, then I urge you to go along to find out more.

As well as tackling regulatory issues, such events also generate strong opportunities for exhibitors to deliver relevant messaging and introduce their latest product/service offerings. And for attendees to investigate potential new revenue streams as well as making the most of existing ones. Networking also remains a fundamental part of the industry and with many connections within the same space for an extended period this is great environment for making new contacts and reaffirming old ones.

The timing of these events is also an appropriate one. Quarter 4 of any year is often an appropriate time for reflection and to start planning for the year ahead. So what better way to start than by listening to your customers and business partners to seek out new opportunities and improve on existing offerings moving forward.