BM Solutions News

1 in 3 brokers encourage their kids to follow in their footsteps

13 December 2007

As parents scramble to get things ready for Christmas, research has shown that over a third (35%) of mortgage brokers encourage their children to join the mortgage industry.

The findings have been announced as BM Solutions launches comprehensive research profiling today's brokers' and their views on their every day life in the industry. Many cited meeting new people and helping people to buy a new home as the most enjoyable aspects of their role. Brokers repeatedly count paperwork as the thing that riles them most.

The report focuses on brokers' day to day life in the mortgage industry and covers their views on clients, business marketing and technology. The BM sponsored research also explored their life outside of the office, with findings including:

• BMW and Toyota are the most popular car choice for brokers

• Over half of brokers holidayed in continental Europe this year, 36% stayed in the UK

The questionnaire delved into brokers' thoughts on alternative career choices, and asked brokers to predict what they'd be doing if they weren't in their current role. They believe a different career path could have led to a role as:

• Estate agent

• Diving instructor

• Police officer

• Making money in property

They were then quizzed to find out what their dream role outside of the industry would be. Some have charitable ventures in mind, such as rehabilitating orangutans in Indonesia or running a dog shelter. Other hopeful brokers claimed aspirations including:

• A wine taster

• Formula 1 driver or a professional footballer

• Cameron Diaz's PA

• Tiger Woods' caddy

Commenting on the research, Phil Rickards, head of sales at BM Solutions said, "If lenders want to provide brokers with the very highest levels of service, we need to understand what being a broker in today's market is all about. This research gives us insight into their working hours, how they run their business, where their business comes from and their views on a changing market. Listening to brokers is the most valuable tool that we have in improving our service."

For further information contact:

Emma Partridge
emmapartridge@hbosplc.com
Press Officer

Clare Mortimer
claremortimer@hbosplc.com
PR Manager