Rate rise - an opportunity for brokers to show their worth

A rate rise gives you the perfect reason to contact your existing clients, particularly those approaching the end of a mortgage deal. Doing so - and being proactive - will not only make it less likely that your client will go elsewhere but also give your customer service credentials a boost as your customers will be impressed that you’re thinking of them at what could be a worrying time.

Good technology can help you to contact your clients seamlessly, often automatically. And once you have made contact you have the opportunity to review protection and in particular general insurance as an advice point – thus adding value to your client while earning an additional income.

But a rate rise also comes with a wider marketing opportunity. With all eyes on the Bank of England and the decision of the MPC, talk across much of the mainstream media is obviously turning to mortgages. You should use this as an opportunity to promote your business to not only existing homeowners but potential buyers.

Use social media to join the conversation. Consider adding blogs to your website to help clients and potential clients to understand how a rate rise would affect them. Perhaps even look at hosting a free ‘clinic’ in a local community centre to answer questions about the mortgage world.

When the spotlight is firmly on our industry it is an opportunity not to be missed. Make the most of the fact mortgages are the topic du jour and sell yourself.