Mortgage Solutions polled brokers on how clients best like to communicate, 46.7% said email, followed by face-to-face meeting at 24.8% and phone call at 23.8%.
Only 2% voted for text or Whatsapp messages, whilst 1% opted for social media platforms such as Twitter, LinkedIn and Facebook.
Jonathan Clark, mortgage partner at Chadney Bulgin, said that despite the increasing influence of various social media platforms/apps, most clients prefer to set up a face-to-face meeting – especially the first time.
He added: “For subsequent advice, the majority of them are then happy to liaise via email, which frees up more of my time and allows me to engage with more new clients.”
Face-to-face meetings to identify clients correctly
Capricorn Financial Consultancy mortgage adviser Alex Smith said he still believes in the value of face-to-face meetings.
He added: “Initially you can make contacts on social media platforms but then you have to set up a face-to-face meeting to identify them correctly. This allows to build up trustworthy relationships with your clients, it is difficult to achieve the same result by email or via text.
“In my experience, I do not see any difference between younger and older clients, as all prefer to come in and discuss in person.”
Axess Financial Services financial adviser Leel De Silva said that any client who is dealing with a broker for the first time prefers face-to-face meetings, whilst existing customers may prefer a chat over the phone or via email.
He added: “Further, all lenders want to know if the mortgage adviser has met the client in person, which makes the identification easier.
“I think that social media platforms are not for mortgages, there has to be something clients can trust.”
Phone calls to save time
However, James Drury, mortgage adviser at Capital Fortune, pointed out phone calls help to save time.
He said: “We do not meet clients face-to-face and this saves time travelling.
“As we are an international firm with just one office in London, we predominately set up phone calls to be followed up by emails. Clients like this. We try to avoid texts or Whatsapp messages.”