You are here: Home - News -

Over half of brokers feel confident identifying vulnerable clients – TMA Club

  • 16/12/2021
  • 0
Over half of brokers feel confident identifying vulnerable clients – TMA Club
More than half of mortgage brokers feel they can clearly explain the characteristics of vulnerability and identify it in clients, a survey has shown.


The survey conducted by TMA Club found that although 53 per cent of respondents felt confident when dealing with vulnerable clients, more than two-fifths wanted further guidance in the area. 

The survey was conducted in September at one of the club’s workshops for directly authorised brokers. 

Lisa Martin, development director at TMA Club, said the withdrawal of government support schemes, as well as rising interest rates and energy costs, could put a strain on borrowers and put them at risk of becoming vulnerable. 

She added: “The past 20 months have undoubtedly put financial strain on many, and we have seen a surge of borrowers finding themselves financially vulnerable.  

“While we’re pleased to see that half of brokers are confident understanding customer vulnerability, which is far wider than just financial situations, today’s results reveal that there is more work to be done from all stakeholders in the industry to ensure borrowers are supported.” 

Martin said: “Through all times, but especially now, it is important that brokers show empathy when dealing with all customers, and remove any risk of ‘labelling’ customers, instead reacting to their individual needs and offering a tailored service to best address these.” 

There are 0 Comment(s)

You may also be interested in