A further 30% said that catching up with old faces and going to the pub afterwards was a key reason to attend, whereas 21% said that they were there mainly to network with other industry professionals.
Andrew Frankish, managing director of Mortgage Talk, said: “I think gaining knowledge of the market is a fundamental purpose for attending events such as Expo, now more than ever, because it enables brokers to have an awareness and understanding of the niche and available products out there.
He said many professionals enjoyed socialising and networking but added: “I think that the key reason to network for many attendees is to help boost their business volumes in some way.”
He said the lower footfall at the Mortgage Business Expo last week at Olympia 2 suggested fewer firms could afford to have staff away for a day.
“We would usually send out a team or 4-5 to attend the Expo, however this year, we only took one person. I think it’s fair to say that we are becoming increasingly selective over the events we go to.
He added the quality of the seminar programme was also a key decision driver for attendance.
“For example, at this year’s Mortgage Business Expo, the FSA’s talk was very informative for brokers, giving them the opportunity to have their say. Therefore, it depends greatly on who is there and what is on the agenda.”
Meanwhile, the latest Mortgage Market Review distribution and disclosure consultation paper was published by the FSA on Tuesday this week. This week’s Mortgage Solutions poll asks what your initial reaction was to the proposals.