Are brokers struggling with burnout?

As the director I am very mindful of my advisors well being and how we all cope with the current market. Having to adapt quickly to rate changes, criteria updates and fast moving sales agreed can take it's toll on brokers. However we work together to ensure we are all comfortable with our work load and this also allows us to carry on delivering great service. I do think some brokers can try and take on too many clients which will definitely have an affect on their wellbeing. We can't pour from an empty cup. The biggest change I would make is having a market wide agreement from lenders to let us know in plenty of time when products are being withdrawn. We have seen in recent months last minute rate changes, which not only puts pressure on the broker to submit cases quicker, but also puts pressure on the clients to make a decision.

Whenever we have a rapidly rising interest rate market, you will find mortgage brokers struggling with their mental health. It's an environment where you have no ability to plan or switch off; if a client is suddenly ready to make their application you feel duty-bound to drop everything and do it, otherwise, the interest rate deal that you found for them could vanish and be replaced by something that would suddenly cost them £60 a month more. Alternatively, you may get an email from a lender telling you that they are pulling all their rates with very little notice, so the case you had planned to do first thing in the morning suddenly needs doing now. It is a pace of work that is not sustainable in the long term and I think many brokers and lenders were very happy when the market settled and we stopped seeing rates changing on a near-daily basis.