We call for greater data transparency as survey reveals almost a fifth of brokers have been held as ‘data prisoners’

Our latest broker study has revealed that almost a fifth (17.5%) of UK brokers have been held as ‘data prisoners’ (those effectively trapped to CRM systems by complicated methods and/or extortionate fees to retrieve data).

Beat the burnout: it’s never too late to streamline your mortgage business

A recent study of brokers suggests that mortgage brokers are more likely to be overworked and face burnout as a direct result of the nature of the role. The survey of property professionals found that a third of brokers have taken time off over the last few years due to fatigue or burnout, citing heavy workloads and client engagement as contributing factors.

As the government misses housebuilding targets by -39%, brokers should turn to technology to cope with a competitive mortgage market

The government has missed its latest housebuilding target by -39%, falling 120,000 homes short of its overall manifesto target of 300,000 new homes a year by the mid-2020s. This follows a trend of subsequent governments failing to deliver on their housebuilding targets since 2007.

How can brokers best assist self-employed people secure a mortgage?

As a result of the COVID-19 pandemic, we’ve seen trends such as a larger desire for flexibility over work hours, the Great Resignation and a heightened interest in entrepreneurship contribute towards a growing number of self-employed people. As it stands, there are currently 4.2 million self-employed in the UK, and this number is surely set to increase over the course of 2022 and into the next year.

Finding harmony in the mortgage journey

The mortgage industry hasn’t always been the quickest to adopt new technological tools, but the tides have turned quite dramatically. COVID-19 restrictions saw the emerging creation and adoption of innovative technology to modernise mortgage applications, and, whilst it’s great that advisors have begun to embrace digital processes, these features are too often used inefficiently in isolation.

How are data prisons holding back the mortgage industry?

The digitalisation of an industry should propel it forwards, yet in some cases, the mortgage industry is being held back as many brokers find themselves data prisoners to their technology platforms.

How can technology help ease the transition into a post-Help to Buy market?

Many people aspire to homeownership, and schemes such as Help to Buy have helped several first-time buyers take their first steps onto the property ladder. The initiative was first launched in 2013 to kickstart the housing market in the wake of the financial crash.

Hint of a market slowdown?

The latest HMRC Property Transaction data certainly made for an interesting read, showing the first hint of a market slowdown for many months.

Quarter of brokers report mental wellbeing as ‘poor’ or ‘of concern

The backlog caused by the closure of the property market in spring 2020, the introduction of the stamp duty holiday in July of the same year, and four consecutive base rate rises have supercharged an already busy property market, leaving many brokers at risk of burnout.

Tenet Compliance Services’ clients can access Smartr365 for free thanks to new partnership

We are thrilled to announce that Tenet Compliance Services’ clients are now able to access the Smartr365 platform for free, thanks to a new partnership with Legal & General Mortgage Club.