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Borrowers expect brokers to send ‘end-of-mortgage’ alerts – eKeeper

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  • 10/12/2020
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Borrowers expect brokers to send ‘end-of-mortgage’ alerts – eKeeper
Around six out of 10 borrowers expect brokers to proactively inform them when they are coming to the end of their mortgage, a survey has found.

 

Almost half of customers were looking for better deals from their broker, according to research by eKeeper’s parent company, DPR Group.

The results indicate that many borrowers expect high levels of ongoing service from their brokers, said the firm.

More than a third questioned expected regular annual reviews of their mortgage, while a quarter wanted regular communication.

However, the survey also found some 37 per cent of brokers say that they have no technology solution in place to enable them to communicate regularly and easily with their customers.

And almost two thirds have a solution in place, with many saying technology had helped retain more than 60 per cent of existing business.

David Bennett, commercial director of eKeeper, said: “It will always be customers that dictate the level of interaction and engagement they want from any business.

“Our research certainly highlights the desire from a good proportion of mortgage customers for a post-sale relationship like those employed by financial advisers.

“Of course, engaging with customers prior to the deal end date is simply a necessity for any mortgage and protection intermediary to preserve that relationship and continue to demonstrate value. It will also help to keep the relationship with the customer, which should enable additional protection sales and prevent the customer going straight to the lender for an automatic product transfer.”

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