Just Mortgages has announced it is launching a new business development initiative for its employed and self-employed brokers.

The firm has created a business development package which aims to help brokers look at the changing business landscape in relation to political, economic, social and technological changes, and offer practical solutions that can be implemented to mitigate the negative effects.

Just Mortgages said the delivery of its business development support will take the form of a free ‘Zoom’ or ‘Teams’ review, where a brokers’ business can be evaluated so that suggestions can be made about potential new product areas.

Brokers will also be shown strategies to identify additional income opportunities from existing customers through the use of CRM systems and targeting product gaps that can be filled, such as missing protection policies.

Head of mortgages at Just Mortgages, John Philips, commented: “Sadly, mortgage brokers need to accept the strong likelihood that their business volumes will be reduced next year with completions taking longer, rising rates and lenders clamping down on affordability. This will effectively mean a salary cut for a vast number of brokers and we want to provide the tools for them to get out ahead of this situation and have plans in place to boost their earnings.”

He added: “We can all be guilty of working flat out and getting caught up in the ‘day to day’ and missing the opportunity to plan ahead. By offering this initiative to brokers we want to ensure that they put aside some time for this essential forward planning with as much or as little support as they need.

“With a vibrant mortgage market over recent years there has been little need for residential brokers to expand their business into other product areas such as commercial and secured loans but opportunities exist in these areas. Brokers are wonderful at adapting to change and we want to provide support and a framework for them to thrive whatever the lending landscape is next year.”

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