Why brokers should feel confident about new opportunities in 2021

By - Mark
01.02.21 10:43 AM

Guest blogger, Liza Campion of Precise Mortgages explains why she is confidently optimistic about 2021 and why she encourages you to be the same.

Despite the challenges we’re all experiencing at the moment, I personally feel confident that 2021 will be a year full of new opportunities for us all. And here’s why.


For starters, there’s the COVID-19 vaccine that’s currently being rolled out. This should give us some certainly for the future and I’m confident we’ll start to see the benefits soon.


Next up is Brexit – whether you agreed with the vote or not, we now finally have some certainty after more than four years of anxiety and unease.


As the dust begins to settle, hopefully we’ll start to see the markets calm down and our future outside the EU brought into sharper relief. The good news is that Precise Mortgages have already brought in new EU rules, so we’re fully prepared for whatever a post-Brexit UK throws at us.


I’m also incredibly confident about the mortgage market in 2021.


BVA BDRC conducted a survey towards the end of last year, mainly to find out how intermediaries were feeling about the prospects for the coming months.


Not surprisingly, brokers’ confidence fluctuated throughout 2020, closely mirroring what was happening in wider society, but it’s their hopes for the coming months, which gives me cause for optimism.


According to the survey, nearly a quarter of those asked said they were very confident about the future of the mortgage industry1. It’s a similar picture when it comes to confidence in the intermediary sector, with the outlook looking brighter than it did in 2020.


In fact, 40% of brokers now say they’re very confident about the sector, with just 6% saying they’re not very or not at all confident2.

Brokers also feel particularly upbeat in regards to the outlook for their own business. More than half of them felt very confident about the future, compared with just 5% saying they’re not very or not at all confident3.


So why the confidence? Well, those who feel the most confident say it’s down to the qualities of their business, such as being well established, having a decent number of referrals and enquiries, a loyal customer base and a strong business flow4.


Other factors could be the potential growth of specialist lending, partly due to changing borrower circumstances – both social and economic.


Plus, the prospect of taking on new types of business that they wouldn’t previously have considered could spark optimism for brokers in the coming year. Only time will tell if this positivity continues.


However, there’s one thing you can be confident about in 2021: our commitment to you.


Putting lockdown to one side, let me reassure you that it’s business as usual here at Precise Mortgages. We’re as dedicated as ever to working with you, providing the best service possible, delivering consistent underwriting decisions, and offering products tailored to support your clients’ goals.


Despite all of the uncertainty that’s around at the moment, the lessons we learned throughout 2020 mean we’re well prepared for 2021, and look forward to taking on whatever comes our way.


We’re proud of our reputation for providing 5 star service and our mantra will stay the same, just as it has throughout the pandemic – just as we were here for you and your customers yesterday, we’re here for you today and we’ll be here for you tomorrow.


1 BVA BDRC Project Mercury Report Q3 2020 slide 81

2 BVA BDRC Project Mercury Report Q3 2020 slide 82
3 BVA BDRC Project Mercury Report Q3 2020 slide 83
4 BVA BDRC Project Mercury Report Q3 2020 slide 16


For professional adviser use only

Liza Campion, Head of Corporate Accounts at Precise Mortgages
By Liza Campion, Head of Corporate Accounts at Precise Mortgages

Mark