paragraph –>
The latest numbers from the Intermediary Mortgage Lenders Association (IMLA) showed more lenders recognizing the value brokers bring to mortgage applications.
paragraph –>
paragraph –>
Asked about the specific benefits speaking to advisers can bring to borrowers, 92% of lenders said it would help non-standard borrowers access a wider range of mortgage products, while 67% felt that borrowers who spoke to an adviser were likely to find a mortgage better suited to their needs.
paragraph –>
paragraph –>
Get in touch with Mortgage Broker UK today to discuss your residential and Buy to Let Mortgage requirements.
paragraph –>
paragraph –>
Adviser input could also speed up and strengthen applications. Nearly half (46%) of lenders suggested that those who made an application through an adviser were less likely to incur unnecessary delays throughout the process. More than half (58%) thought applications submitted by an adviser stood an overall greater chance of being approved.
paragraph –>
paragraph –>
The research also revealed lenders taking steps to maintain close working relationships with advisers since the start of the pandemic. Seventy-five per cent (75%) reported they have been working more closely with advisers to help them understand complex product criteria. In addition, 58% have invested in broker training and 54% plan to invest in technology to further support advisers.
paragraph –>
paragraph –>
Discover our Residential Mortgage Broker services.
paragraph –>
paragraph –>
“Good relationships between brokers and lenders are not only key to ensuring that borrowers have access to a broad choice of mortgages to fit their needs, but also in reaching those non-standard borrowers who may have thought a property of their own was forever out of reach,” IMLA executive director Kate Davies said.
paragraph –>
paragraph –>
“Our research demonstrates that consumers tapping into the expertise of mortgage advisers will benefit from more choice, a better mortgage and a quicker application process that is more likely to be successful.”
paragraph –>
paragraph –>
By Mary Or
paragraph –>
paragraph –>
Source: https://uk-mortgagebroker.co.uk/news/
paragraph –>
paragraph –>
Discover our Mortgage Broker services.
paragraph –>