The partnership between intermediaries and lenders is the driving force behind a successful mortgage market.
With almost 90% of all mortgage business carried out through intermediaries last year, this strong and interdependent relationship is fundamental. Like any close relationship, however, it can face difficulties.
One of the main sources of frustration for mortgage brokers last year was product transfers (PTs). While these became a necessary option for borrowers dealing with affordability issues, they caused some tension within the industry due to the lower proc fees involved.
That said, across two of the three sectors examined in Mortgage Finance Gazette’s Rated for Service, lenders earned their highest scores for strategic focus, highlighting the continued strength of the broker-lender partnership. The only sector where strategic focus didn’t receive the highest score was mainstream lenders.
Those lenders recognised for their strategic focus had clearly demonstrated a concerted effort to support the intermediary market in the eyes of brokers.
Among mainstream lenders, all but one of those Top Rated for strategic focus were also Top Rated for Service overall.
In the Rated category the results were more varied, with two lenders – Aldermore and Pepper Money – narrowly missing out on an overall accolade but still achieving Rated status for their strong strategic focus in the mainstream market.
For specialist lenders, all the overall Top Rated and Rated for Service lenders also received recognition for their strategic focus.
While most of those Top Rated or Rated for Service also received recognition for their strategic focus, three did not – showing that a lender that receives an overall honour doesn’t always perform highly across the board.
Likewise, three lenders – Fleet Mortgages, Precise Mortgages and Principality Building Society – were Rated for strategic focus but did not receive an overall accolade.
A lender’s products are what set it apart from the competition and, in many ways, they shape the mortgage market we know today.
Last year, lenders demonstrated impressive creativity – not only in the FTB sector but also across the broader market. For example, they adapted to market conditions by offering more flexible terms for older borrowers and developing innovative solutions to address stress tests in the BTL sector.
Earning Top Rated or Rated status for products in such a competitive environment is a significant achievement and a clear testament to a lender’s commitment to meet borrowers’ needs.
In Mortgage Finance Gazette’s Rated for Service, product scores varied significantly across the three main sectors. In the mainstream market, they led the way.
Those that achieved Top Rated for Service overall also scored well for their products, with only one lender failing to do so. Meanwhile, West Brom for Intermediaries stood out as being Rated for its mainstream products but missing out on overall recognition.
A similar pattern emerged among specialist lenders. Products were the highest-scoring category for that sector, with a near-direct correlation between lenders that received Rated for Service overall and those that received either Top Rated or Rated for their products.
Product scores in the BTL sector were also high, which is unsurprising given the creative solutions some lenders had to adopt last year in response to challenging stress tests.
A lender’s sales support and communication are key factors in its success.
Prompt, consistent and reliable responses are essential when brokers are submitting a case, and for forging strong and lasting relationships.
With the rise of digital-only lenders and brokers, what constitutes effective support and communication can vary from firm to firm. For some, face-to-face meetings and speaking to a ‘real person’ are top of their list, while others may find a quick response from a chatbot sufficient.
Regardless of the format, what matters most is that the broker feels supported by the lender.
In our latest survey, mainstream lenders performed strongly in this category, securing their second-highest score. With the exception of two lenders, all of those that received either Top Rated or Rated for Service were also recognised for their sales support and communication.
All the data for the Mortgage Finance Gazette Rated for Service 2025 is now accessed via a dashboard. All the ratings data for each lender category, and all the rankings data for each assessment area, is available from the past three years. Lenders’ performance in any of the five assessment areas can now be ranked from highest to lowest across the entire lender panel for each year, and filtered based on broker type and case load.
This year we have also added factor analysis for each lender category, so brokers will be able to benchmark their chosen panel of lenders against the average score for each assessment area (max. of five lenders).
The dashboard brings an unprecedented level of clarity to lender service levels for the broker community. We’d like to hear your feedback in the comments section below, or email piers.johnson@emap.com.
Please see the full dashboard below:
Please click on the cover below to see the print supplement of Mortage Finance Gazette Rated For Service 2025.
