How brokers manage feelings of guilt when mortgage processes don't go smoothly

We obviously feel bad for our clients when their mortgage or Equity release doesn't go to plan. It happens, not often, but it can happen. However, At Albion Forest, we do a lot of research before making a recommendation, so we rarely have a mortgage that cannot go ahead other than when a valuation comes back unacceptable or at a lower value. I am pleased to say our percentage of mortgages that do not go to completion is incredibly low, and the ones that generally do not complete are due to issues with the property and not with our recommendations.

Anyone who genuinely cares about their clients cares very deeply when things go awry. The problem is that so many other parts of the process don't seem to value the customer experience as much as the broker. A lot of conveyancers treat it as an afterthought and no conscientious broker would take a month to look at a document so why is it acceptable for some lenders? As someone getting a bit long in the tooth my advice to brokers is communicate, communicate, communicate. If you tell your client that something will take a long time or might be a bit iffy, tell the client and keep them abreast. Rather than give no update, head it off and say 'I haven't forgotten about you but we're waiting on x' and if it's outside your sphere of influence try not to beat your self up. If you've genuinely done everything you can, and kept your client in the loop, there isn't any more you could have done. And there will be days where you need a massive gin.

To start with you need to be sure that the elements you are directly responsible for are in good working order, this will mean that any issue that arises is not of your making. Next, look for hazards that might arise and plan for them. For example, don’t simply accept your clients assessment of their property value, do some research. Don’t submit an application with information outstanding; that one item will invariably turn out to be the thorn that gets stuck in the heel of the application. Set clear expectations; lenders are now very open with their service standards, explain these to the client – if this is an issue you know at the outset and make alternative plans. If the client is using your recommended solicitor be sure that you are not overpromising on their service standards. If a problem does arise, own it. Understand the issue and communicate as early as possible. Our role is to clear the path, if we come across a boulder, we shouldn’t wait for it to be moved, we move it or find a way around it. If you do all this well, your client will be grateful for your involvement not resent it.

As a service based industry, it’s inevitable that sometimes things don’t go exactly to plan but in my experience the key to managing both your own emotions as an advisor/human and the clients frustrations is good old-fashioned communication. Keeping clients informed and in some cases prepped for the potential hurdles that may arise during the process is critical and helps to underline your commitment to client. Managing expectations and outlining the most likely application journey and timeline from the outset can also really assist in smoothing over any frustrations or challenges as things evolve. Define how regularly your client may hear from you, steer clear of jargon and just be honest about where things are at and clients will generally respect and recognise that you are on their side and doing all you can to make things happen for them. If problems do arise, then addressing these head on and working with the client and lender to resolve these is so important. With current lender service levels and some “erratic” underwriting behaviour, good client communication and engagement is arguably more important than ever! Silence in this context is most definitely not golden!