Saffron for Intermediaries has signed the Mortgage Industry Mental Health Charter as part of its commitment to supporting the mental well-being of mortgage industry professionals.
With a volatile mortgage market and higher interest rates giving rise to a great deal of uncertainty, 2023 was a tough year for mortgage professionals.
With rates coming down in 2024, those working in the mortgage industry will now face the challenge of dealing with increasing levels of activity as borrowers try to secure a good deal.
In addition to this, mortgage professionals can often be affected by the emotional stress of ensuring they are supporting vulnerable clients as best as possible.
Despite all these pressures, current frameworks for supporting well-being and mental health in the sector are often lacking.
The Mortgage Industry Mental Health Charter is designed to address these issues.
A voluntary commitment, those who sign the charter agree to support better mental health in the industry and develop mental health awareness among employees using activities and advocacy.
Charter signatories also promise to encourage open conversations about mental health and support, provide employees with good work conditions that encourage a healthy work life balance, and more.
Becoming a signatory to the charter is the latest initiative from Saffron for Intermediaries to better support the mental health of its employees and other industry stakeholders.
Other initiatives include regular mental health drop-in sessions run by Saffron’s eight mental health first aiders, the opportunity for all managers to complete mental health training with First Aid England, a comprehensive employee assistance programme, and events such as ‘bring your dog to work’ day which are aimed at improving mental health and well-being.
Tony Hall, head of business development at Saffron for Intermediaries, said: “While the impact of higher interest rates and the cost-of-living crisis on borrowers over the last year have been widely acknowledged, the well-being challenges faced by mortgage professionals are much less talked about, but just as relevant.
“At Saffron, we pride ourselves on being a happy place to work, and supporting mental well-being is at the centre of that.
“However, our decision to sign the charter isn’t just about being there for our own employees but supporting the well-being of mortgage professionals across the sector.
“We hope that by increasing awareness and talking about these all too often taboo topics, we can encourage more industry stakeholders to work together to make our industry an enjoyable and rewarding place to work for everyone.”
