Brokers using up to six affordability calculators per case

Published on

Mortgage Brain has revealed that 84.5% of attendees of its recent Virtual Mortgage Vision Masterclasses visit the affordability calculators of between one and six lenders on each case.

In addition, 58% says they rarely use an affordability calculator from a non-top 10 lender.

The study identified other occasions when brokers spend large amounts of time on manual tasks, with more 81.5% of brokers spending more than 15 minutes keying in the details for a Decision in Principle (DIP) or full mortgage application.

Neil Wyatt, sales and marketing director at Mortgage Brain, said: “The feedback from our Mortgage Vision Masterclass events has been fantastic; there is no question that the many brokers who attended benefitted from thought-provoking sessions and are now better equiped for dealing with today’s mortgage market.

“However, our survey shows that many brokers are still spending significant amounts of time on manual jobs like repeatedly keying in client data on lender websites.

“At Mortgage Brain we are committed to transforming the way technology can help mortgage brokers become more efficient, making it far easier and quicker to source the products their clients need and cut out some of those time-intensive tasks.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Air and Mortgage Brain link sourcing platforms to widen later life lending options

Air and Mortgage Brain have agreed a collaboration designed to help mortgage advisers assess...

Mortgage network growth diverges as acquisition activity reshapes sector

Stonebridge Mortgage Solutions and HL Partnership have recorded some of the largest increases in...

LMS appoints Ian Robinson as permanent chief executive

LMS has appointed Ian Robinson as its permanent chief executive, four months after he...

Mortgage lending availability falls as banks anticipate recovery in demand

Mortgage credit availability and demand for house purchase and remortgaging all declined during the...

L&G broadens adviser training to cover retirement and estate planning

L&G has extended its Adviser Academy webinar programme to help financial advisers address a...

Latest publication

Other news

Air and Mortgage Brain link sourcing platforms to widen later life lending options

Air and Mortgage Brain have agreed a collaboration designed to help mortgage advisers assess...

Mortgage network growth diverges as acquisition activity reshapes sector

Stonebridge Mortgage Solutions and HL Partnership have recorded some of the largest increases in...

LMS appoints Ian Robinson as permanent chief executive

LMS has appointed Ian Robinson as its permanent chief executive, four months after he...