Dorchester grows its market share
DorchesterLife says it has seen a 55% increase in its share of the reverse annuity mortgage market and an increase of over 100% in the average drawdown amount.
Tuesday, February 27th 2007, 6:58AM
Group general manager Henry Lynch, credits the growth of RAM Ultimate to the business’ commitment to protecting customers, as well as to a number of initiatives introduced over the past six months.
“Market response to our Reverse Annuity Mortgage product, RAM Ultimate, has been very positive as DorchesterLife continues to provide competitive interest rates and unique product features whilst upholding its promise of customer protection,” Lynch says.
DorchesterLife’s robust lending assessment criteria guarantees customers a minimum of 20% owners’ equity in their property at the initial drawdown, and protects customers by basing property growth valuations on a conservative rate of between 2% and 3.5% nationwide.
This compares to other home equity release providers who only allow for 10% owners’ equity and base property growth valuations on rates as high as 7% nationwide.
Lynch says the company rebranding as DorchesterLife, the re-organisation of its support teamand an innovative web based customer relationship management (CRM) system are all helping.
The purpose built CRM system gives accredited brokers the ability to track clients through the different stages of the application process, compile a client history and provides them with simple-to-use calculators to determine the amount DorchesterLife can advance to clients.”
| « News Round Up | Sovereign takes regulation bull by the horns » |
Special Offers
Commenting is closed
|
|
Printable version |
|
Email to a friend |
