The mortgage experience gap – Sandford

For brokers, the mortgage process is arguably more demanding than ever, as they are navigating increasingly complex affordability conversations, and customers expect clearer communication and quicker outcomes. Meanwhile, the lenders themselves are balancing service standards with cost pressures and regulatory requirements. 

But despite improvements in technology across the market, friction remains embedded within the mortgage journey.

Cases continue to stall, brokers still spend significant time chasing updates, and both lenders and intermediaries continue to face pressure around underwriting capacity, packaging quality and communication consistency. 

Our H1 2026 research suggested that the industry’s biggest challenge isn’t necessarily attracting new business, it’s about delivering a consistent experience once that business arrives. 

Some 46.3% of brokers said cases most often stall at underwriting, making it by far the most common bottleneck. This was followed by the legal process at 27.1% and valuations at 20.4%. 

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This is significant because underwriting is where so many moving parts come together – lender appetite, criteria interpretation, the quality of documentation and the capacity of the underwriting teams themselves. When it slows down, everything else feels it and for brokers, it makes the journey less predictable.

For customers, it often shows up as uncertainty at the point they expect things to feel like they’re moving forward. 

Lenders and brokers agree on the pressure point 

When we asked lenders what their biggest operational challenge was, the most common response was underwriting capacity, cited by 38.9% of respondents, followed by legal/conveyancing at 22.2%.  

The research showed that lenders and brokers are largely aligned on what the main pressure point is. Brokers see cases stalling at underwriting, and lenders themselves admit underwriting capacity is their biggest bottleneck. Recognising the issue is one thing, but solving it is another. 

Lenders need to think beyond capacity alone, as there may also be issues around how clearly criteria are communicated, how consistently documents are requested, how effectively cases are packaged, and how quickly brokers receive meaningful updates. 

This directly links to the Financial Conduct Authority’s current mortgage market initiative. Its Mortgage Rule Review aims to simplify rules and support sustainable homeownership, with 2026 priorities including responsible lending, access for first-time buyers and underserved groups, later-life lending, innovation and consumer protection.  

Taking this into account, operational delivery is central to how the market supports better outcomes, rather than just a standalone service issue. 

Chasing is a hidden cost in the mortgage process 

The broker data also reveals just how much friction still sits within the process. Based on an average case, only 4% of brokers said they do not need to chase lenders. More than half said they chase once or twice, while 41.6% said they need to chase three times or more. 

Packaging remains an area for improvement 

Lenders also raised case quality as a bone of contention. Only 8.8% of lenders said that 61–80% of cases are fully packaged first time. Incredibly, no lender said more than 80% of cases were, with more than half saying that 40% or fewer cases arrive fully packaged first time.

While brokers will ultimately bear the brunt of the friction, lenders are having to deal with incomplete packaging, document gaps and verification challenges, so there’s work to be done on both sides. 

In other words, the industry has a shared process problem. Lenders need clearer requirements, better portals, more consistent communication and faster underwriting decisions. Meanwhile, brokers need better packaging discipline and clearer visibility of what good looks like and what should be reasonably expected from each lender. 

Consumers are broadly positive, but they value more than just price 

Encouragingly, consumers are generally happy with the service they’re receiving. Some 88% rated their most recent experience as either very or mostly smooth. 

When asked what mattered most during the process, 68% said they wanted a balance of rate and a smooth experience. Only 23.3% prioritised getting the lowest rate possible – another clear sign that price alone is not enough in today’s market – while 8.7% prioritised a smooth and stress-free experience. 

Of course, consumers still care about cost, but they also want value and confidence. This supports what brokers have said about service, communication and reliability being key for protecting the customer experience. 

The experience gap is between confidence and reality 

Finally, lenders give a mixed assessment of their own service performance, which is slightly at odds with their earlier confidence. Around 30.6% rated their service as above average or market leading, while 47.2% rated themselves about average. 

Meanwhile, just under a quarter, 22.2%, rated themselves below average or needing significant improvement. The lenders that lead this market will combine clear criteria, strong packaging support, fast underwriting, proactive communication, and consistent delivery alongside competitive rates and broad lending criteria.