Calling all advisers: Don't ignore conveyancing!

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With mortgage business levels predicted to fall by around 20% and the value of the of the market set to fall by between £50-£100bn due to the fallout from the recent credit crunch, advisers should fully exploit all opportunities to recoup a potential drop in income.

I would urge advisers to look for alternative revenue streams such as conveyancing referrals to supplement their income. An adviser can earn up to £200 commission for each purchase and sale referral, for no extra work or financial outlay, which can add up to several thousand pounds of extra income per month. The role of the mortgage adviser has traditionally been limited to arranging the loan and associated insurances to enable the client to purchase a property. However, there is an opportunity for advisers to extend the range of services they provide to the customer. One area where the ...

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