Get notifications in real-time for staying up to date with content that matters to you.
Brokers in the United Kingdom are turning to diversification to bolster their incomes, and like their Australian counterparts insurance products are the most popular add-on.
According to UK mortgage industry publication Mortgage Strategy, ‘protection products’ – or life insurance products – are the most popular fit with residential mortgages, with 29 per cent of brokers endorsing them as a key product for a broker diversification strategy.
Mortgage Business’ recent diversification survey also highlighted life insurance products as the most prevalent add-on service for Australian brokers, with 73 per cent of brokers already offering the products.
While there are some stark differences between both markets by way of structure, the parallel between product diversification is clearly apparent.
Debt management was the next most popular choice in the UK, with 18 per cent of votes. This was followed by equity release, with 16 per cent of votes.
For full details of Mortgage Business’ diversification survey see Issue 3.6 (May) – on desks this week.
The non-major bank has teamed up with a credit reporting firm to ...
At-risk women living in SA will be given access to free financial...
Napoleon Finance broker and director Sam Carello has revealed his...
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Do you expect mortgage applications to increase or decrease over Summer?
