Mortgage intermediaries forced to adapt their business models due to credit crunch
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28 January 2009 | Published by Datamonitor
London - Mortgage intermediaries are turning away from their standard business model and looking to diversify into new fields, according to independent market analyst Datamonitor*. Intermediaries are moving into advising-on or selling other products, particularly general insurance. Some are even looking into cross-selling electricity and gas to make up for the current shortfall in mortgage business. ‘Despite the government’s efforts to get banks lending again, lending levels remain low and so intermediaries need to find different avenues in order to survive the downturn in the hope that they’ll be in a stronger position when the upturn comes’ comments Rod Logan, financial services analyst at Datamonitor and author of the report.
Notes to editors
Notes & References
* 'UK Mortgage Intermediary Distribution 2008’ is a report published by Datamonitor
* *Source: Barclays Financial Planning
Related Research
The report ‘UK Mortgage Intermediary Distribution 2008’ focuses on the impact of the credit crunch on the UK mortgage intermediary channel. Datamonitor sizes the intermediary share of distribution, covers trends and challenges, and analyzes intermediaries' and lenders' views on the market.
Further Information
Rod Logan, financial services analyst with Datamonitor and author of the study, is available for comment.
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