Whether we label ourselves as mortgage brokers, advisers, sellers, consultants or managers, it probably does not matter to the average consumer who is just looking for an expert to point them in the right direction.  What is important is that whoever the customer sits in front of, they have an abundant quantity of current market knowledge and combine this with a superb quality of advice that then determines the customer experience.

In real terms, firms broke mortgages, by bringing two parties together.  Consumers who have insufficient knowledge of the market are matched to the most appropriate lender.  This activity is exempt from VAT.  To do this individual advisers use their well-developed skills, within the regulatory confines and framework to determine best fit.  It is the skills of fact finding and knowing which lenders will meet the needs of that customer that matter.  This is the role and we do not need to get too absorbed in terminology.

Perhaps we should just see firms as brokerages who employ advisers to deliver results and the best of these are outstanding professionals.  What has become clear in recent weeks is that many lenders have almost given up on advice and the intermediary professional is holding sway.  Our market share continues to swell.  Lenders will come back with new technology based solutions, in the first instance for retention, however it is up to the broker community to ensure that their customers come back to them for advice first.