The role of self-serve solutions in the mortgage industry has grown significantly, particularly as brokers look to streamline their operations and enhance client interactions.
In episode #115 of our Growth Series podcast, Ian Cunningham, Corporate Account Manager at Accord Mortgages, hosts a discussion with Kathy Clark, Business Development Manager at Accord Mortgages (London), and Mike Houston, Business Development Manager at Accord Mortgages (Southeast). Together, they reflect on the challenges of 2024 and explore how self-serve tools are reshaping the broker experience as we head into 2025.
Kathy and Mike identified some of the most significant hurdles brokers faced over the past year. Market volatility and frequent rate changes created a challenging environment, with affordability concerns becoming a central issue. The buy-to-let market, in particular, was significantly affected with many first-time landlords stepping back due to stress rate requirements.
To navigate these challenges, effective communication and ongoing education were highlighted as vital strategies. Keeping brokers informed of rate changes and providing timely updates on market trends helped brokers stay ahead in a demanding market. Training sessions and webinars offered brokers the tools to manage complex cases and adapt to evolving client needs.
The conversation also explored how self-serve tools can empower brokers. By offering quick and accessible answers to routine queries, these tools free up valuable time for brokers and their teams to focus on more complex scenarios. Kathy highlighted how time-saving tools benefit both brokers and Business Development Managers, enhancing efficiency while maintaining personal relationships.
The importance of complementing digital resources with tailored, human support was another key point. Brokers can rely on these tools to handle straightforward enquiries, while complex cases still benefit from direct advice and guidance.
Looking ahead, affordability challenges are expected to remain significant in 2025, but there are also opportunities. Both speakers pointed to the wave of fixed-rate mortgage maturities as a chance for brokers to assist clients in navigating refinancing options. This period may see a mix of borrowers moving from historically low rates to higher ones and others benefiting from rate reductions.
Kathy and Mike also emphasised the role of digital enhancements in addressing these challenges. With advancements in self-serve tools and ongoing efforts to support brokers’ varying business models, the industry is well-positioned to adapt to the needs of a diverse client base.
This discussion underscores the value of balancing technology with personal relationships to address the complexities of the mortgage industry. By embracing both digital tools and collaborative support, brokers can navigate the challenges of 2025 with confidence.
The Growth Series is a dedicated and FREE resource for mortgage brokers, containing blogs, guides and podcasts to help you scale and grow your business. For more hints and tips on how to grow your business, you can sign up to the Growth Series here.
02:55 to 35:40
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