The survey showed that six out of 10 intermediaries have been submitting online for over a year. The survey also revealed that intermediaries are 'in it for the future', with 72 per cent planning to invest more money in IT over the next three months.
Alan Cleary, head of sales at BM Solutions, said: “It’s clear from the survey that brokers understand the value of online services and technology and were not slow to get on board. Many brokers are showing this trend by the continuing growth and investment in IT.”
In addition the survey, which tracks market opinion and trends, also found the directly authorised/appointed representative split post-regulation stands at 56 per cent and 44 per cent respectively.
Other findings unearthed by the survey included over 59 per cent of brokers believe buy-to-let should be regulated and 62 per cent believe second-charge should fall under the FSA’s remit.
London-based sole broker Roy New commented: “I do as much business as I can online. But a lot of these online services from lenders aren’t truly online. Take Mortgage Express for example. It has an online application,but then it has to be signed by the client.”
New added: “Everyone will eventually be online and if they aren’t they will ultimately fall by the wayside. As technology broadens, brokers will have to pay the costs to keep up with the developments.”
