2016 has been a particularly busy year for me. The launch of Fluent for Advisers as a dedicated resource for intermediaries has meant an almost nonstop round of broker meetings, exhibiting at Expos as well as supporting our network and service providers at their events.
During the year conversations have been dominated by two particular topics. Firstly, the place for second charge lending in a post MCD world and the use of sourcing systems to find the right deal for clients.
There is no doubt in my mind that MCD put the final stamp of legitimacy on the second charge sector as an important alternative to remortgaging as the primary method of capital raising. With the regulator now insisting that customers are made aware of the option and the increasing number of reasons why, depending on client circumstances, second charge is a more appropriate choice, brokers are increasingly turning to providers like Fluent for help.
The second burning topic has been about the best way to source secured loans, particularly when many advisers are new to the sector. Most of them have been used to sourcing engines in the mortgage market and logically have been starting to make use of the growing number of dedicated sourcing facilities for second charge which are now being provided.
There is no doubt that sourcing systems are a brilliant way to explore the multitude of lending options available, but for all of their growing sophistication, advisers should combine the best of technology with human experience in order to get the most consistent results. Given the multiplicity of different customer circumstances, we have found that a combination of technology and human experience and knowledge is the best cocktail for providing superior customer outcomes.
We have developed strong relationships with all of our lenders and written criteria is used as a guideline rather than something set in stone. Depending on the quality of the proposal, on many occasions we can come up with a better deal for the client than an adviser relying solely on a sourcing engine. The value that we add is based on intimate knowledge of the market, relationships with the lenders and first class service to adviser and customer.
Jeff Davidson is head of intermediaries at Fluent for Advisers
