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TMA Club poll finds brokers who lacked technology lost clients in lockdown

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  • 18/08/2021
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TMA Club poll finds brokers who lacked technology lost clients in lockdown
A straw poll of mortgage brokers by TMA Club has found that 14 per cent lost a client at the start of the pandemic because they did not have the technology in place to support remote working.

 

The poll at TMA Club training session Technology HIIT, earlier this month, uncovered that 50 per cent of brokers completely upgraded their technology so that they could hold on to clients and work from home. 

Brokers who were technologically well-placed when lockdown struck counted for 32 per cent.

The processes most relied on during remote working included digital client meetings, remote ID verification checks and other due diligence.

The TMA Club poll further found that with lockdown restrictions lifting, 64 per cent of brokers now expect to continue working with a hybrid model that will combine home working and in-person meetings.

On the other hand, nine per cent anticipate continuing to work remotely the whole time, and 27 per cent are returning to the office full-time.

Lisa Martin, development director at TMA Club, said: “Our results show that the majority of brokers will continue using a hybrid work model, providing advice to their clients from the office and from home, which makes seamless and secure access to documents from any location essential.” 

“An up-to-date platform can give brokers the ability to automate administrative tasks, keep on top of fixed-term product deadlines and strengthen compliance processes — in addition to video conferencing tools, remote ID verification and due diligence,” Martin said.

Mortgage brokers’ business models emerge permanently changed from Covid-19 restrictions – 09/07/2021

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