Value of a Mortgage Broker

Buying a home is one of the biggest purchases people will ever make and it’s not always an easy process. From surveys, stamp duty, and solicitors’ fees to the baffling number of products and different interest rates, there’s a lot to wade through.

Our new ‘Value of a Mortgage Broker’ research reveals a quarter of respondents (25%) said they had used a broker because the mortgage market was complex and they needed guidance. In fact, 81% of homeowners thought the advice of a broker was quite valuable or extremely valuable when securing a mortgage.

Mortgage brokers could be seen as being in a strong position as the research shows:

  • 82% of homeowners who had used a broker in their most recent house purchase said they would use a broker
  • 71% of homeowners used a broker in their most recent house purchase
    Of these, 82% said they would use a broker for their next mortgage
  • 92% of homeowners who had used a broker were quite likely or very likely to recommend using a broker to their friends when getting a mortgage

View our infographic and get the key findings from our research on the myths around mortgage brokers and homeowners views.


Education is key 

The research highlights the role a mortgage broker plays in helping people find the right mortgage for their individual needs, through invaluable information and support. However, for this success to continue, education is needed as people remain, in many cases, unaware about the work of Mortgage brokers and the benefits they could bring:

  • 55% didn’t know a broker could offer them more product choice for mortgages
  • 48% who didn’t use a broker thought their bank or building society offered them a good deal
  • 23% thought Mortgage brokers were expensive
  • 18% of homeowners who didn’t use a broker didn’t see the value they would add

To help your business grow you need to tackle these myths, particularly as the market becomes more competitive.

Use our new ‘Mortgage Myths’ report to find out more what UK homeowners think about the mortgage market and the role that you play.

Lead Generation Ideas
 

Why not use our suggested lead generation letter/ email to help increase your business. Tailor your letter/email with our bespoke research and let people know the importance of your role.