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Over half of brokers open to network swap

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  • 15/08/2013
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Over half of brokers open to network swap
More than half of mortgage advisers would consider changing networks, the latest Mortgage Solutions People’s Poll has found.

Last week Mortgage Solutions reported that Stonebridge has seen 20 new firms join its network since April, with more set to switch in the coming months.

Our poll found that 57% of brokers would consider switching networks, compared to a just third of respondents (31%) who said they are happy with their current network or club.

In addition, 12% said that they had no active plans to change networks but would not necessarily rule out making a move in future.

Which Network founder Gary Watts said brokers returning to the industry and moving between networks is now a common occurrence.

“Stonebridge growth was typical of networks as a whole: “There are not just ARs changing networks but a lot of brokers are coming back into the industry,” he said.

Stonebridge Group managing director Richard Adams said: “Networks have long known that they cannot afford to rest on their laurels if they are to continue to offer their AR firms the best proposition possible and this has been particularly true this year amid a background of flux following the introduction of the Retail Distribution Review, a change of regulator and the impending Mortgage Market Review changes coming into play next April.”

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