Describe your firm in a few sentences
Mortgage Advice Hub is based in Sheffield. The company was founded around six years ago, starting with two employees. It has expanded to a director, an office manager, four administrators and 13 advisers.
When we opened, we worked from the smallest office in our courtyard. We now own two of the biggest office spaces and are ever expanding.
We have the potential to hire a further four advisers this year and are in talks about this.
The society that we live in today is one where advice needs to be given in a quick and convenient manner
Originally, we offered mortgages for those based in Sheffield. This has since moved UK wide as our existing customers refer people they know and as we increase our social media presence.
What led you to become a broker?
I worked for a bank and decided that this was the route for me. I did my CeMap training while looking after my two young children, and revised for my exams in the evening.
I also worked for an estate agent as an admin adviser to gain experience because I wanted to be fully ready to go into the mortgage world when I passed my exams.
What plans do you have for the future of your firm?
At Mortgage Advice Hub, we think a hybrid approach to giving advice will lead our firm into the future of the intermediary world.
We have taken on several advisers from the finance and education professions, who have progressed to become invaluable advisers within our team
The society that we live in today is one where advice needs to be given in a quick and convenient manner. Depending on the needs, location and requirements of our clients, we offer advice in a variety of formats: face to face, telephone, instant messaging and virtual face to face.
As trends change, we are beginning to see a transition to a greater number of virtual face-to-face appointments.
We try to give our clients an approach whereby they feel comfortable in their surroundings, providing them with a sense of satisfaction, confidence and trust in our services.
What single thing could lenders do to improve brokers’ lives the most?
In an ever-present world of emails, clarity and meaning can often be lost. We find that the lenders that provide human interaction over the telephone, while underwriting a case, provide the best service.
Mentoring is a technique that is extremely powerful in bringing new brokers to the forefront of the industry
Likewise, lenders that give reasons for declining a mortgage provide a sensible approach that helps us understand criteria and where to place a case.
What advice do you have for a broker just starting out?
Be a sponge. I have always taken the time to listen to the conversations and discussions between clients and advisers.
My advice to any broker starting out in the industry would be to delve into situations where you can listen to peers. This could be over the telephone while speaking to underwriters, investigating criteria with business development managers or building a rapport with prospective clients. We can all learn valuable communication skills from others.
We are beginning to see a transition to a greater number of virtual face-to-face appointments
In my downtime from mortgages, I like to walk my dog. I have utilised this time to develop my knowledge of the current economic climate by listening to podcasts published by field experts, which have certainly helped to clear the mist associated with the UK economy and where it may be heading.
I feel this has significantly improved my advice to all clients.
How can the industry encourage a new intake of brokers?
Mentoring is a technique that is extremely powerful in bringing new brokers to the forefront of the industry. At Mortgage Advice Hub, we pride ourselves on bringing new advisers through our proven academy system.
I wanted to be fully ready to go into the mortgage world when I passed my exams
Since the pandemic in 2020, we have taken on several advisers from the finance and education professions, who have progressed to become invaluable advisers within our team. Growing, nurturing and guiding new talent are key.
Providing a new intake of brokers with an existing retention client bank that needs to be serviced, in addition to new sources of business such as Google adverts, has helped to give them the best opportunity to succeed.
If you would like your firm to be featured in Broker Focus, please email Mortgage Strategy deputy editor David Burrows at: david.burrows@emap.com
This article featured in the May 2023 edition of MS.
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