Brokers 'can support worried borrowers'

12-Mar-2008

A new study has revealed that nearly half of brokers feel they can be of assistance to borrowers who find themselves in difficulty with property payments, which could be reassuring to first-time buyers.

The research conducted by the Intermediary Mortgages Lenders Association revealed that some 48 per cent of 286 brokers felt they should help borrowers in trouble with their mortgage.

However, around 38 per cent of respondents felt it was not part of their role and the remaining 14 per cent did not express a view.

Peter Williams, IMLA's executive director, commented: "Many, but not all, intermediaries are keen to play a more proactive role in supporting borrowers who may get into financial difficulty, seeing this as an integral part of the service they provide their customers over the long term."

He added that intermediaries are able to offer a much higher level of expertise and independant mortgage advice and that lenders would "generally welcome" the increased involvement of brokers.


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