How can the truly exceptional set themselves apart?
What makes a top broker and are there any key attributes that the best of the best share? Mortgage Introducer reached out to several of the leading names in the field to gather their views.
What makes a top-tier mortgage broker?
Steven Morris (pictured above), advising director at Advantage Financial Solutions, said a truly exceptional broker sets themselves apart by embodying a multitude of qualities.
“They are not only well-versed and insightful in their field, but also exude sincerity, agility, and a genuine desire to assist their clients,” he said.
At the heart of it, Morris said, lies a deep-seated commitment to caring for clients’ financial well-being and the ability to discern the underlying issues behind a client’s request.
“While a client may articulate a specific need or desire, it is often the case that their true problem lies beneath the surface, awaiting a nuanced solution,” Morris said. A skilled broker, he added, can swiftly identify the root cause and craft tailored solutions.
Central to their success, Morris added, is a keen eye for detail and an intimate understanding of underwriting processes.
“By meticulously navigating the intricacies of underwriting criteria, a proficient broker ensures that their clients’ applications sail smoothly through the approval process, sparing them the frustration of needless delays or rejections,” he said.
The hallmark of a successful broker, Morris added, is not just a satisfied client base, but a thriving working life and a healthy bank account.
“It is a testament to the broker’s unwavering dedication, honed expertise, and commitment to excellence, culminating in a reputation that precedes them and sets the standard for their peers to aspire to,” Morris added.
How to find a reliable mortgage broker?
Mike Staton (pictured right), director at Staton Mortgages, said the mortgage industry unfortunately suffers from an abundance of subpar brokers, a consequence of the relatively low barriers to entry.
“I have often harboured doubts about the competency and intentions of many brokers operating in my vicinity,” he said.
This scepticism, Staton added, is fuelled by the ease with which large corporations dispense licenses, essentially spoon-feeding candidates through the CeMAP process, leaving little room for genuine expertise or dedication.
“When seeking out a reliable broker, it is imperative to exercise discernment; merely glancing at glossy marketing videos will not suffice, as they are often crafted by self-professed marketing gurus who have jumped on the mortgage bandwagon for a quick buck, devoid of genuine industry insight,” Staton said.
It is also prudent, Staton said, to steer clear of corporate brokers churned out by mass training academies, resembling products of a conveyor belt rather than seasoned professionals.
Instead, Staton believes that clients should opt for an independent broker with a solid reputation in their local community.
“Above all, be wary of recommendations from estate agents and builders, as their interests may not align with yours, potentially leading to biased advice or skewed deals; taking these precautions ensures you will find a broker truly invested in your financial well-being,” he said.
What do you believe makes the top brokers stand out from the rest? Let us know in the comment section below.
