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Broker satisfaction with lenders improved in H1

ended 22. June 2023

A few brokers on Newspage have flagged up new research published today revealing “overall (broker) satisfaction with mortgage lenders is up by 4.0% to 83.4%”. You can read the full story >> here <<. What are your thoughts? Please note that the research was conducted in April 2023 “before the most recent turmoil surrounding interest rates”. 

3 responses from the Newspage community

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Adam Smith
Founder at Alfa Mortgages
Lenders undeniably provide a valuable service to brokers. The recent challenges pertaining to interest rates have unequivocally exposed the true distinction between exceptional and average lenders.
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Austyn Johnson
Founder at Mortgages For Actors
Leders as a rule are easy to work with when you have a nice simple case that fits the criteria and rules nicely. Its the complex cases where we need to look outside of the box that really tests lenders and how they work with us. Last year, lenders had so much business, they would not spend the time to look from different perspectives and cases ended up with specialists. This year, lenders are taking the time to consider and even make exceptions for the more complicated cases. Long may it last. We have placed some really weird and wonderful cases with high-street lenders in 2023, its been great.
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Rhys Schofield
Brand Director at Peak Mortgages and Protection
Q1 was definitely a success story as lenders got on top of their case loads and the time to get to mortgage offered being issued came down across the board. That being said it feels like a lot of the good will may have evaporated within the last few weeks as lenders played jiggery pokery, pulling and changing rates with very little notice, leaving brokers to carry the can.