Brokers farming databases for old clients

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Brokers are increasingly using technology to help ‘farm' their customer databases for new business, rather than hunting new customers, according to MortgageStream.

Feedback from users of MortgageStream suggests the credit crunch is a major reason for the changing business tactics of brokers. Paul Holden, sales director at MortgageStream, says brokers are using consumers’ fear of the credit crunch to prompt previous clients to contact them for advice in a confusing market. “For some clients the exercise is nothing more than reassurance that their mortgage arrangements are correct but opening up a dialogue can act a catalyst to discuss other financial requirements such as complementary insurances,” he says. MortgageStream has also observed a four-fol...

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