A survey by Pepper Money found that while 55 per cent of people asked family and friends for mortgage broker referrals in autumn, that number dropped to 37 per cent in March this year.
Meanwhile, searching for brokers online had become the preferred way to find advice, cited by 56 per cent of respondents.
Speaking on a video debate in association with Pepper Money, Stephanie Charman, head of strategic relationships, lender at Sesame Bankhall Group said: “We have become a nation potentially that defaults to online before anything else.”
She also said people probably preferred to speak to brokers already armed with information.
Charman added: “You’ve also got younger generations that actually want to have an informed conversation but want to do their own research first.
“So, they’re going into that conversation, that discussion, possibly with a mortgage broker prepared and more aware of some of the solutions that are on offer.”
“Customers are going to use online research and the web is a default position. Make sure that your website talks about everything that you do. If you’ve got referral arrangement in place, mention those too,” she said.
Watch the video below [9:52], chaired by Victoria Hartley, group editor of Mortgage Solutions, featuring Paul Adams, sales director, Pepper Money; Stephanie Charman, head of strategic relationships, lender, Sesame Bankhall Group and Danny Belton, head of lender relationships, L&G Mortgage Club.