Mortgage Leads

Shaf · Jul 3, 2008

Hi there all,

I recently joined a firm through a network after passing my CeMap, i'm starting next week but i need some advice on obtaining leads both online and offline. I want to find out what worked best for you guys in both forms and any good lead generation sites that you have used and worked well. I'm new into the industry and want as much advice as possible so i can avoid the pitfalls that may come my way.

Jamesbtown · Jul 5, 2008

I see no replies to your post. Take a look at the Cherry website and register using your FSA No. You will find it very useful as a tool for your business.
Be wary of the lead companies particularly PAA, Finance Only leads etc.
I personally use Leadbay but they are all discussed by the members posting on Cherry.
Best of luck.
James Town
Mortgage Decisions
Tel: 01376 344421

MK Financial Solutions · Jul 5, 2008

James,
What do you think of Leadbay's lead quality and return service? I have had a terrible conversation rate with them so wondering if its me, the area I am buying the leads in or is the qulity.

peebles · Jul 5, 2008

Hi,

I've only ever got business this way via the old-fashioned route - good old face to face meetings with solicitors, accountants & estate agents. A lot of firms already know someone but if you offer them a percentage of return and a standard of service than outbids their current user then you might just hit on lucky. I find a lot of professional people have major concerns with financial advisers/mortgage consultants as they fail to deliver a lot of the time - ie say they're going to do something then don't do it.

Just my experience.

Peebles.

bear · Jul 5, 2008

I havent found that any of the lead companies work for me - as a new starter you must appreciate that you havent entered the industry at a very good time at all. As previously said, check the cherry website although I havent been on there for some time as it made me feel like sticking my head in the oven!! The best form of advertising for me was 'shop front' premises and a 'large' weekly ad in the local property paper. Yell.com is worth considering but stay away from yellow pages, thomson local and the BT book. You will find your best clients come from recommendations. Try and get a link with an agent although I appreciate that is easier said than done.... oh and start with charging a fee because you are going to find that you tell alot of people looking for a new rate that you cant beat the rate quoted direct by their current lender and you dont want to be doing a load of work for nothing.

Gillie · Jul 5, 2008

Make friends with your local bank manager ... when they can't sell a mortgage they will immediately think of you and pass it on ...

MK Financial Solutions · Jul 5, 2008

Shaff,
Can I ask if you joined a firm, why would you be looking for leads? They should be providing you leads. If this is one of those self employed and commission split arrangements, than make sure you are getting big part of the commission (70 % plus). If you are going to generate leads, why not work for yourself?

Shaf · Jul 6, 2008

I have joined a network, as i'm new to the industry and yet to be signed off as competent the commission will be split 50:50, it is a self employed role. I know i haven't entered the market at the best time but i wanted to do it and if it wasn't now it prob would be never. I have been looking at lead generation websites and i've managed to secure a deal with my friend who owns a letting agent and my cousin who is a solicitor, but i know that won't be enough. I just want the advice that all you guys can pass on to me, my initial budget for leads etc is a couple of grand but i want to spend it wisely.

Jamesbtown · Jul 7, 2008

50/50 seems a lot to me . I have a friend working under my umbrella and only take 25%.
Give me a call.
Mortgage Decisions
01376 344421

doclimited · Jul 7, 2008

Its a difficult time, but don't let that put you off. We thought the Mortgage industry may start to decline so we started to introduce other services such as unsecured/ personal/ tenant/ secured and business Loans, Vehicle finance and other financial and business services. And that is making us a little more comfortable than some brokers.

If you have a website- You can try web-clicks, we are looking to go into that. £16 per mortgage click doesn't seem all that bad.

AndyBlack · Jul 7, 2008

Hi,

I am currently offering a lead generation service for FREE. All I ask is that you include a small link from your website, to the site. This can be anywhere on your site as long as it is accessible by the search engines and does not use the 'nofollow' tag. In return you will be added to my database driven mortgage website and will be able to access your admin panel where you can upload your profile, amend your criteria and manage any leads.

This site is only in the early stages, but with it being free I think it would be a wise move for you.

Only one broker per town though!

If you are interested, please pm me!

Thanks

Andy

Shaf · Jul 7, 2008

I'm currently employed so the mortgage brokering would be done on a part time basis. I have joined an AR of a network who is splitting everything 50:50 as they have to train me? Is that too much? I spoke to a few networks and they all were saying it would be 50:50 split.

Shaf · Jul 7, 2008

I'm currently employed so the mortgage brokering would be done on a part time basis. I have joined an AR of a network who is splitting everything 50:50 as they have to train me? Is that too much? I spoke to a few networks and they all were saying it would be 50:50 split.

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