Santander has reported that mortgage brokers remain central to the homebuying process, with new research showing most borrowers would struggle to secure a mortgage without professional advice and continue to favour human judgement over artificial intelligence.

The lender’s quarterly Broker Perception Barometer, which surveyed 500 mortgage holders, found that nearly two thirds of homeowners said they could not have completed the homebuying process without a broker.

The survey also revealed that 85% would use a broker again when purchasing a home or switching provider.

While cost savings and time efficiency were the leading priorities for customers, many respondents said the broader market guidance offered by brokers was equally valuable. A fifth of homeowners highlighted the importance of help navigating taxes and changing mortgage rates.

Despite increasing use of AI in financial services, borrowers showed a clear preference for human interaction. Eight in 10 said their broker reduced stress during complex stages of the process, while one in 10 turned to their intermediary for emotional support.

The findings suggest that, even in a more technologically enabled market, human reassurance retains significant weight.

Seven in 10 respondents who bought, remortgaged or completed a product transfer during the past year said they saved money through a broker, with average monthly savings of £125. Borrowers in the South East benefited the most, with typical reductions of £155.

Graham Sellar, head of intermediary channels at Santander UK, said: “Against a backdrop of a changing interest rate environment and shifting lending rules, the housing market can feel like a rollercoaster to navigate.

“It’s unsurprising that brokers remain the backbone of the homebuying journey for the majority of consumers – with many saving money as a direct result.”

Consumers continue to select brokers through personal recommendations, with nearly two thirds relying on referrals from friends, family or colleagues. Only 5% said they found a broker using AI.

More than half of borrowers said they would choose a broker over AI at every stage of the homebuying or remortgage journey.

Sellar added: “It’s clear that borrowers still value the guidance, experience and human judgement that only a broker can provide.

“AI provides support at the initial stages of deal research and exploration – but when it comes to making concrete life decisions, nothing can match the trust that is built through a broker.”

Santander said that 90% of its mortgage transactions in October were completed through brokers, a rise of seven percentage points compared with the previous year, underlining the continued strength of the intermediary channel.