Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

British Mortgage Awards Mark 20 Years of Industry Change

The British Mortgage Awards (BMA) have now been recognising individual excellence in the mortgage industry for two decades. Mark Harris, chief executive of Howden Private Clients and recipient of the Broker Award at the inaugural event, reflected on the evolution of the sector since 2006.

The awards were first held in 2006, during a period when the intermediary mortgage market was described as booming. Since then, the industry has experienced significant events, including the global financial crisis, the pandemic, and political changes such as those during Liz Truss's tenure.

According to Harris, the role of the mortgage adviser has become faster-moving and more technology-enabled over the years. There is now greater choice for consumers, and brokers must be more organised and aware of deadlines, especially given the volatility in interest rates.

Harris highlighted the importance of continuing to recognise excellence and innovation in the industry, provided that judging remains impartial. He also reflected on his professional achievements, including guiding SPF through the financial crisis, a management buyout, a partial sale to private equity, and the eventual sale to Howden.

For those entering the intermediary mortgage market today, Harris advised that diversification is important, and that technology will continue to transform the industry. However, he noted that independent advice remains key, particularly in specialist areas.

These reflections on two decades of change in the mortgage sector may be of interest to UK letting agents and inventory clerks, as they highlight the increasing importance of organisation, technology, and adaptability in the property industry.