Mortgage lenders need to focus more on service says CML.

According to the CML chairman, UK mortgage lenders should be focusing more on service and less on sales. Martijn Van der Heijden has advised lenders need to move away from a sales culture.

Mr Van der Heijden as well as being the Council of Mortgage Lenders chairman, is also the head of lending for HSBC. He has said that UK lenders need to be more transparent to customers.

He added that the cultural shift needs to be made from sales to service, saying that pre credit crunch UK mortgage lending moved from being a customer relationship business to a sales business. While there are many involved in the purchase process from conveyancers to surveyors to intermediaries, it is mortgage lenders who have the long term relationship with home-buyers.

He said that it is essential to cultivate a good relationship as loyalty is a two way street.

He added that the current mass regulation of mortgage market is stifling the ability to develop innovative products, which is of detrimental effect to new buyers and existing home-owners.

Would-be buyers and those looking to remortgage need competitive deals and therefore competition between lenders is important. However once a good offer has been sourced it is important for the home-owner to be treated to a high level of service by the lender.

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