IMLA predicts that the share of mortgage business done via intermediaries will continue to grow from 87% in 2024 to 89% in 2025 and 91% in 2026.
Kate Davies, executive director of IMLA, said:
“The proportion of mortgage cases arranged by intermediaries rather than directly with lenders has surged from 61.9% in 2014”. This is more than a trend and shows a structural shift in the mortgage distribution landscape, due to a number of factors.”
The UK mortgage market is one of the most diverse and competitive in the world. This market can benefit significantly from the services of a professionally qualified mortgage broker.
Why is this?
Brokers provide a full service, looking at all products in the market, this accesses more options and a better price than individual banks who can only access their own mortgage products. Brokers are specialists who are positioned just to deliver a mortgage proposition rather than a more multi faceted traditional banking structure. By being able to access specialist and niche mortgages from across the market, brokers can provide a wider range of products to borrowers.
What also appeals to clients when using a broker is that different to banks, brokers actively lessen the load on the borrower. In researching the whole market, managing paperwork and lender communications, in an increasingly time poor society, this service is becoming very valuable.
Add to this a better and more comprehensive client experience, plus estate agency confidence in the mortgage broker relationship, even greater levels of clients are being driven towards brokers.
Henry Knight, Managing Director of Springtide Capital Mortgage Brokers comments:
“We’ve seen a huge shift over the past ten years away from clients arranging their mortgages through the banks direct to choosing a broker to assist them. The service offered together with the expert knowledge and advice received has resulted in consistently high client experiences as can be reflected in our own 5 star google reviews. Over time banks have increasingly shown that they value the broker channel and have continued to work hard to improve the support and access we have.”
Contact us:
Mortgage advisers are set to play an even greater role in helping borrowers find the best solutions for their individual needs in today’s growing and increasingly competitive market.
Talk to us today.
Contact Springtide Capital on 020 8154 7280.
Sources:
Broker business set to increase in ‘new normal’ of 2025 mortgage market: IMLA | Financial Reporter
How brokers are taking a greater share of mortgage business | Mortgage Introducer