Progress Report

As it has been some time since I have last updated readers on my latest venture, I thought I should make an attempt to give you at least a flavor of what has been happening over the past few weeks.

This new business involves me selling mortgages on behalf of a local mortgage broker. We deal mainly with re-mortgages and also offer a scheme whereby most clients can realise significant savings in interest or length of mortgage or indeed both. It might be thought that it would be a difficult financial climate at present for such activities and that is true to a great extent. However, as we deal with re-mortgages and people are now often looking to stay where they are because of the issues and financial implications of moving house, and in addition seeking to consolidate debts, it is potentially a good time to offer such a service. Indeed, the Broker in question has recently taken on five other people to do what I am doing so things are not all that bad.

The main issue is getting what is known as the 1st appointment. These leads are normally obtained via the internet and although the people involved are obviously ?? looking to re-mortgage, when you get to speak to them they often give a variety of reasons why they don't want to do so just yet and therefore don't want/ need to see anyone. In addition, it is not unusual for appointments to be made and cancelled nearer the time. I believe that the reason for such indecision and cancellations is that some people are often burying their heads in the sand and hoping that their financial circumstances will either improve or indeed go away. The frustrating thing is that normally when you get to see such people, they can be helped and their finances improved significantly.

I have now seen serveral clients and closed my first deal about two weeks ago so this re-mortgage is currently going through the due processes. The agent such as myself, along with the Broker, does not of course get paid until everything has been completed so it can be about 4 weeks since I last saw the client that I see the reward for my efforts but that is not too bad. I had another positive meeting on Friday night and am hopeful that they will sign and have a new 1st appointment tonight and a 2nd apointment this Thursday which I am also hopeful about. In addition, I have several leads pending decisions from the clients or further actions from myself.

If, after a few months this business really takes off and I am enjoying this new challenge, I will undertake formal training with a view to becoming a fully qualified mortgage adviser. But it is early days yet and I am currently learing about how to deal with some of the frustrations and rejections that such a job brings and overall I am very much enjoying the new challenge.

I hope to bring you further positive new over the coming days and weeks, but in the meantime if you know anyone who is looking to re-mortgage, you know where to come.....

Have a good week and I look forward to receiving your comments and observations.