Adverse credit proved to be the most popular topic of inquiry for brokers in Q3 according to PRIMIS Mortgage Network.
Analysing the data produced by the Network’s product desk, the results showed that PRIMIS helped to support brokers with 8,316 queries throughout Q3, 707 more than in Q2.
In addition to this, the data saw that some of the most common queries from brokers during this time included questions around adverse credit, self-employed clients and family assist mortgages.
Vikki Jefferies, proposition director at PRIMIS, said: “Despite the cost of living increasing significantly, along with rising inflation levels and interest rates, these statistics show that demand remains healthy, and advisers are being approached for information on how they clients can best navigate the market at this difficult time.”
The product desk saw a large proportion of queries relating to mortgages for those with adverse credit, as despite the rising cost of living placing pressure on many consumers, there are still options available to borrowers with adverse credit, as well as to those in other complex financial circumstances.
The uptick in queries on this topic suggests that broker guidance on the most suitable products for this group of customers is particularly important at this time.
Similar patterns were found surround questions about self-employed clients and family assist mortgages.
With lenders have tightening their criteria for applicants in recent years, brokers are now playing a vital role in supporting self-employed borrowers and first-time buyers looking for a family home, who often don’t know where else to turn, looking to receive advice regarding their mortgage needs during this period.
Jefferies added: “Brokers will need to be well informed in order to find suitable and affordable deals for their customers, especially those with complex circumstances.
“By working with the right network, brokers can access the support they need to ensure they are best meeting their clients’ needs.
“We look forward to continuing to provide the help and guidance we know our intermediary partners value for the remainder of 2022 and into 2023.”
