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Richard Angliss. Home Buyer Systems The ‘Next Generation’ Sourcing System. HBS Sales Training. Objectives. How To: Build a Genuine WoM business Attract new business and Lead Generation To successfully charge fees Provide an Admin service

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Richard angliss

Richard Angliss

Home Buyer Systems

The ‘Next Generation’

Sourcing System


HBS Sales Training

Objectives

How To:

  • Build a Genuine WoM business

  • Attract new business and Lead Generation

  • To successfully charge fees

  • Provide an Admin service

  • Retain customers and get Insurance business


HBS

Post Credit Crunch Problems

  • Direct Products more competitively priced

  • Potential customers using Comparison sites

  • 12% Products are Intermediary over 75% LTV

  • Lenders not supporting Intermediary distribution

  • Finding cannot place 70 – 80% of new enquiries

  • If cannot place mortgage don’t get insurance

  • Can they still meet FSA “Independent” criteria?


HBS

Evidence of Problems

Home Buyer Sourcing Index (HBSI)

Second Time Buyer - Intermediary Products Available by LTV


HBS

Evidence of Problems

Home Buyer Sourcing Index (HBSI)

Second Time Buyer - Price Difference by LTV


HBS

Post Credit Crunch Solutions

  • Pre Credit Crunch Proc Fees meant did not have to “sell” mortgage advice

  • Post Credit crunch Proc Fees largely gone or reduced – Possibility RDR remove altogether

  • Mortgage sourcing has to become a “mortgage sales process”

  • A process that allows you to earn at least as much per case as you did Pre Credit Crunch

  • More emphasis on Insurance sale – like in 80’s


HBS

Features of Post Credit Crunch Process

  • Reinvent total approach to customers

  • Sourcing from WoM

  • Use Intermediary v Direct Comparison to ensure income – Customer or Procuration Fee

  • Devise strategy for earning income from aiding with application


HBS

The Story 12 Months On

  • In Last 12 Months Built sales Process which Includes:

  • A unique Fee Justification tool

  • Online Factfind Invite

  • Marketing tool

  • Facility to take fees by Credit or Debit Card

  • Admin system (MI Zone)


HBS

How is HBS Being Used

  • Checking Direct Deals before recommending Intermediary product

  • Fee based Research Service (£99 to £250)

  • Research and Recommendation/Application – if product Direct charging fee (0.25% to 1%)


HBS

What Challenges Does This Present?

  • Charging Fees

  • Lenders will not deal with you on Direct Products (starting to see a softening on this)

  • How do you stop customers getting your advice for free and then going direct?

  • How do you demonstrate you can help with the application


HBS Sales Process

Approach

  • All sales depend on “Approach” – how you set it up with customer

  • Need to be well rehearsed – need to practice the “Approach”

  • Need to identify the different possible outcomes and have answers

  • People buy people so need to be confident – a confident attitude wins customers

  • Hard work on Approach now is an investment in the future of your business – so practice will pay


HBS Sales Process

Approach (cont)

  • Suggested approach:

  • Lenders have 2 channels for selling their products. Directly (i.e Branches, Telephone, Internet) or via Intermediaries

  • Most Mortgage Brokers only offer Intermediary products I source both

  • Lenders that have Intermediary products pay a fee to Brokers to subsidise the cost of people getting advice from them (aka a Proc Fees)


HBS Sales Process

Approach (cont)

  • Suggested approach:

  • I will take your details and ask you some questions to enable me to find the most appropriate products for you

  • Then I will produce an analysis that will allow you to decide what is most attractive to you

  • Once you have decided which product you would like to apply for I can support you through the application process


HBS Sales Process

Approach (cont)

  • Suggested approach:

  • 4 Submission routes to lender

    • Branch

    • Telephone

    • Internet

    • Intermediary

  • Branch – Coach, prepare, refuse Insurance

  • Tel – Same as Branch but you can be present

  • Internet – You can do this from factfind


Mortgage Sales Process

Source Without Lenders Named


Mortgage Sales Process

Source Without Lenders Named


Mortgage Sales Process

Do Comparison


Mortgage Sales Process

Get Customer To Decide On Fee


HBS

Get Customer To Decide On Fee

  • The Analysis shows which option is cheapest

  • At lower LTV’s and larger loans Intermediary products can be cheapest

  • Mainly it is Direct products though

  • Give customer choice – pay fee and make saving or don’t pay fee (or lower fee) and have Intermediary product

  • Or base fee on percentage of saving (say 25%)


Mortgage Sales Process

Get Customer to Agree To Admin Service


Mortgage Sales Process

Get Customer to Agree To Admin Service


Mortgage Sales Process

Use Conveyancing To Enhance Fees


Mortgage Sales Process

Credit/Debit Card Taking Facility


Mortgage Sales Process

Credit/Debit Card Taking Facility


Mortgage Sales Process

Credit/Debit Card Taking Facility


Mortgage Sales Process

mi-Zone Admin Service


HBS

mi-Zone Admin Service

  • Provides an online collaboration service with customer

  • Creates an e-mail address that the system uses and is given to lenders on Application

  • This means all correspondence can be seen here by both Advisor and customer

  • Advisor responds to correspondence customer can check this and progress by logging in

  • Other documents can be attached


Mortgage Sales Process

Marketing Tool


Mortgage Sales Process

Marketing Tool


Mortgage Sales Process

Marketing Tool – Which? Report


HBS

Lead Generation

  • Finding many Estate Agents have lost Mortgage Advisors – open to talk especially to someone who can prove can place more business

  • Even for Estate Agents with a Mortgage Advisor our customers are asking for what they can’t place

  • Same as for Estate Agents but New Builds

  • Some of our customers posting an analysis through doors of houses for sale


Mortgage Sales Process

Factfind and Research


Mortgage Sales Process

Factfind and Research


Mortgage Sales Process

Factfind and Research


Mortgage Sales Process

Screen to Screen Selling


HBS Lite

In Summary

  • Post Credit Crunch Sales Process

  • WoM sales strategy required

  • Reinvention of whole approach

  • Remuneration model to be more fee based

  • Sale of insurances key to success – like 80’s

  • Allows you to promote yourself as “Independent”


HBS Lite

What’s In It For You?

  • People need Advisors as much as they ever have - finding right approach will bring rewards

  • Competition dwindling as old approach does not work anymore – AMI expect Advisor numbers to fall to 12,000 from high of around 40,000

  • This approach will never leave you at the mercy of the lenders ever again

  • Potential to find new introductory sources, Estate Agents, IFA’s that don’t do mortgages, Builders


HBS Lite

What Do Fellow Professionals Say?

“The mortgage market has changed, probably for ever, and it is no use using tools developed for yesterday's market to survive and prosper today.

HBS is a system designed to help the adviser prosper in today's climate.

We want to provide our advisers with a tool which will put them in a strong position with clients regardless of any future changes in distribution which may occur and I believe HBS does just that.”

Mark Banfield (MD) – AFP Mortgage and Protection


HBS Lite

Case Study – Customer Details

  • Advisor: Neil Soundy

  • Company: Neil Soundy FS

  • Customer: First Time Buyer

  • Loan Required: £132,000

  • LTV: 90%

  • Property Value: £146,667

  • Recommended by previous Advisor - 5yr 7.25% Fixed with RBS


HBS Lite

Case Study – Sourcing


HBS Lite

Case Study – Sourcing


HBS Lite

Case Study – Comparison


HBS Lite

Case Study – Results

  • Recommendation: RBS 5.99% 5yr Fixed

  • Advisor Fee: 0.3% (£396)

  • Saving on Set up: £999 (no Arrangement Fee)

  • Monthly Saving: £144.81

  • Total Saving (5yrs): £8688.38

  • Plus Life and B&C commission - £1600

  • Total Earnings: £1996


Home buyer system
Home Buyer System

A TOTAL SOLUTION

FOR THE REGULATED

GI & MORTGAGE MARKET

The Next Generation

Sourcing System


Home buyer system1
Home Buyer System

Pricing For New Services

  • Sales and Marketing Process £5

  • mi-Zone  £10

  • mi-Zone Introducer £10

  • mi-Zone Introducer Unlimited £30


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