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Broker adaption has been very impressive during coronavirus – Lloyds Banking Group

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  • 02/06/2020
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Broker adaption has been very impressive during coronavirus – Lloyds Banking Group
Lloyds Banking Group has praised brokers for the way they have adapted their businesses and giving advice during the coronavirus restrictions.

 

The lender noted that technology was proving a vital development and this was likely to continue even as lockdown was eased.

While some brokers may choose not to continue in the new setup, it is likely to be administrators who feel the biggest impact.

Speaking on Mortgage Solutions Television, Esther Dijkstra, director of strategic partnerships at Lloyds Banking Group said the whole industry had come together.

“I have been really impressed with how quickly brokers have adapted to providing advice in a remote way on mortgages and it has really accelerated the use of technology,” she said.

“I think that’s a great thing to see and I expect that to continue even when we come further out of lockdown.

“It might be a bit of rebalancing as brokers will want to do some things face-to-face, but I expect that a lot of the processes will stay the same.”

She added: “What is interesting to reflect on is the role of admin assistants because with this use of technology and processes being slicker, their roles might change or they might not rely so much on that assistance.”

Mike Jones, managing director of intermediaries and specialist brands at Lloyds Banking Group, was appearing alongside Dijkstra.

He noted that brokers had been looking for certainty in operational capacity and service levels from lenders and were hoping for increasing loan to values as soon as possible.

 

 

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