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Thank goodness technology doesn’t take a holiday – Firth

by: Nicola Firth, CEO of Knowledge Bank
  • 23/08/2018
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Thank goodness technology doesn’t take a holiday – Firth
As the mortgage industry takes its summer exodus, August will likely once again be a frustrating time for brokers not relaxing on the Costa.


However, people are still moving house and for many buyers it’s a great time to view houses in the sunshine.

There is also the increased time pressure of buyers and sellers themselves going away and wanting offers accepted and an agreement in prionciple (AIP) in place before they go.

Sadly, for many brokers it’s a month of frustration with the standard ‘out of office’ email replies and ‘I’m on annual leave’ voicemail messages.

Helpdesks are seemingly unmanned and the usual 10 minutes on hold stretches to become a mini-break of its own.

To be fair, the remaining staff are overrun and are desperately trying their best to cope but that’s hollow succour to a family desperate for a mortgage offer to secure their dream home before jetting off.


More of a chore

Thank goodness, then, that technology doesn’t take holidays – my god, can you imagine finding the photocopier sobbing in the corner of the print room because the fax machine it met and fell in love with on holiday has said it was just a holiday fling?

With limited human interaction available, placing and chasing cases becomes even more of a chore. This is why August is one month where technology really does stand front and centre and shows what it can do.

The challenges of placing mortgage cases don’t change just because the sun is shining.

Borrowers still have individual financial circumstances and brokers still need to find lenders that will consider their case.

And the scale of the task doesn’t decline just because the temperature is over 24 degrees.


Try before you buy

Technology provides tools to make our lives easier and during the summer brokers can really take advantage of the convenience, speed and reliability it provides.

Interrogating lender criteria for instance is a huge task; our data shows brokers searching on average five individual criteria categories for each client.

Technology exists to make our lives easier and so isn’t it great that it’s not encumbered with humanesque down time – well, assuming you’ve chosen the right system.

August is also a great month to try out new systems and see what you may have been missing because work got in the way.

Now is the time to take a trial of a system or solution that you may have been reading about.

Take the plunge metaphorically while others are taking it literally and you might be very glad you did.

Having technology available is great but having it available on demand 24/7 is business critical.


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