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Mortgage networks must evolve, L&G states
Fri, 31 Oct 2008
Mortgage networks must evolve in order to survive the current market conditions, it has been claimed.

According to Duncan Crocker, managing director of intermediary distribution at Legal and General, explained that the role of such bodies has recently moved towards offering sales training to mortgage firms.

He said: "These businesses are looking to secure their futures by giving advice, especially to existing clients, across a much broader range of mortgage-related ... client needs."

The mortgage firm is also offering training to its partners on subjects including identifying new customers and enhancing commission, he added.

Yesterday, Louise Cuming, head of mortgages at Moneysupermarket.com, warned that switching to an interest only deal should be seen as a last resort.

She explained that although changing to such a deal will save money in the short run, over the long term it will mean people are paying more for their mortgage than they would have otherwise done.

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