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.

Mortgage Advisers Report Improved Response to Market Uncertainty

A recent poll by Mortgage Solutions reveals that mortgage advisers are divided on whether their ability to handle market upheaval has improved, worsened, or remained unchanged compared to previous disruptive events. The poll specifically asked brokers about their response to challenges caused by the Middle East conflict, in comparison to the mini Budget and the Covid-19 pandemic.

The results showed an almost even split among advisers, with some reporting improved approaches, others noting no change, and some feeling their response had worsened. The poll highlights that uncertainty and challenges are now a common feature of the mortgage sector.

Lee Trett, co-founder and director at Moneyhelpdesk.co.uk, described the recent period as “rewarding” due to a significant increase in client enquiries and the ability to help more clients. Trett noted that while there was extra work and urgency to secure deals before rate changes, his firm managed to service all clients.

Michelle Niziol, founder of IMS Property Group, acknowledged the challenges brought by the conflict but stated that market uncertainty is a regular part of the industry. She observed that the sector has learned from previous periods of disruption, though she found it difficult to compare the current situation to the Covid-19 pandemic due to the unprecedented uncertainty at that time.

James Dawes, founder of James William and Co Capital, commented that “uncertainty is the only constant” in the sector. Dawes pointed out that the impact of uncertainty varies depending on the client, such as first-time buyers versus landlords with large portfolios. He described the Iran conflict as introducing a unique type of volatility, while the pandemic and mini Budget each presented their own challenges for brokers.

Trett also suggested that the sector appeared better prepared this time, possibly because previous events were still fresh in people’s minds. He highlighted that lenders’ portals managed increased enquiries effectively and that business development managers were proactive in communicating impending rate changes, resulting in a smoother process than during the pandemic or mini Budget.

Ellis Shepherd, business owner of All About Mortgages, shared that the current conflict presented new challenges, but he has remained busy supporting clients moving between properties. However, he noted that his plans to hire staff have been put on hold due to ongoing uncertainty.

For UK letting agents and inventory clerks, these findings underline the ongoing volatility in the mortgage market and the importance of adaptability in supporting clients through uncertain periods.