Protection, whether that be income protection, life insurance or critical illness cover, has often been an underutilised tool in the broker arsenal, but the muted mortgage market could be changing that.
Although the latest figures from the Bank of England show that mortgage approvals have returned to pre-mini Budget levels, there is still muted mortgage activity compared to normal.
As a consequence, anecdotally, some brokers are looking to maximise their transactions by increasing protection so they can diversify their income. Some are also going through their customer banks to see if there is protection that can be sold there as well.
However, is this widespread or are there other avenues where brokers are diversifying their incomes?
So, in this month’s Mortgage Solutions poll we are asking whether brokers are selling more protection business than they did the year before.
Are you selling more protection business since this time last year?
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
