The reprice is part of a series of measures
Adviser platform Unbiased has unveiled a new pricing model aiming to support mortgage advisers amid a challenging market landscape.
Unbiased is slashing the costs of enquiries across tiers 3, 4, and 5 by an average of 20% over a four-month period. This marks the second price adjustment in the last month and is designed to provide advisers with increased opportunities to secure business.
Tier 3 enquiries, which are for clients with £100,001 to £150,000 in assets, will see an 11% reduction in enquiry costs, following a 21% decrease in January. Tier 4 enquiries – those for clients with £150,001 to £250,000 in assets – will benefit from a 19% reduction in enquiry costs, while tier 5 enquiries for clients with £150,001 to £250,000 in assets will enjoy an 8% reduction in enquiry costs.
Recent enhancements aimed at supporting mortgage advisers include granting those with Growth plans access to Unbiased’s enquiry marketplace. This feature allows advisers to supplement leads received from the matching tool and directory at any time. Advisers now also have the capability to accept enquiries on the move, facilitating prompt contact with prospective clients while leads are still fresh.
According to data from Unbiased’s customer base, there has been a 16% year-on-year surge in demand for mortgage advice, coinciding with a gradual decrease in inflation. However, recognising that many consumers are awaiting the Bank of England’s anticipated rate cut, projected no sooner than June, Unbiased is taking proactive steps.
“Unbiased was built on the foundation of enabling easy to access advice for all,” commented Karen Barrett (pictured), chief executive and founder of Unbiased. “However, in today’s climate, this has become increasingly difficult for mortgage advisers, in particular. Although we are seeing high demand for mortgage advice, customers are finding it harder to find new deals that make it compelling to act.
“These latest price changes come in recognition of the increasingly complex and challenging economic conditions being faced in the mortgage market, and is aimed at further supporting business growth in the industry.”
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