Despite the long-term nature of mortgage agreements, many borrowers report minimal post-sale engagement from their brokers. In a personal account spanning over two decades and four mortgages, one homeowner noted receiving very few follow-up communications after deals were finalized. This apparent lack of contact, however, is far from uncommon. Richard Campo, Head of Growth at Heron Financial, describes this as a prevailing norm within the industry. He advocates for at least annual check-ins, emphasizing that regular communication not only improves client retention but also provides a valuable window for referrals.
Campo argues that consistent contact allows brokers to reassess whether a mortgage still aligns with the client’s evolving financial situation, especially in an environment of rising interest rates. He stresses that mortgage Brokers terms should not be treated as fixed contracts. Regular reviews—especially around the end of a loan product—create openings to address changes such as job shifts, family expansion, or additional borrowing needs. Campo believes that these proactive conversations help mitigate future financial issues and allow brokers to offer timely solutions.
More Than Just Mortgages – A Broader Advisory Role
Beyond mortgage Brokers terms, can use these touchpoints to provide broader financial advice. Campo suggests that annual reviews are an excellent opportunity to discuss retrofitting homes for better energy efficiency, which has become increasingly relevant due to soaring energy bills—now often a household’s second-largest expense. With lenders increasingly factoring in a property’s Energy Performance Certificate (EPC) rating into affordability assessments, such discussions can be both financially and environmentally beneficial.
Heron Financial, a certified B Corp, integrates sustainability into its client interactions, helping clients understand how energy-efficient upgrades can reduce both household costs and mortgage expenses. Campo believes that incorporating environmental advice into financial consultations adds significant value and reinforces the broker’s role as a holistic financial advisor.
Katrina Horstead, co-founder and director at Versed, echoes the sentiment, emphasizing the critical nature of timely financial reviews in the current economic climate. With inflation and fluctuating interest rates impacting households rapidly, she insists that what worked a year ago may not be suitable today. Versed’s model includes regular strategic reviews to help clients make informed decisions—whether through refinancing, debt management, or seizing better market rates.
Business Growth Through Better Service
While regular client reviews enhance service quality, they also make sound business sense. Horstead points out that such engagements foster long-term relationships, build trust, and often lead to additional advisory opportunities such as insurance protection or future property investments. Clients who feel supported are more likely to return and recommend the broker to others.
Ajar Nayyar, Managing Director of Hearthstone Mortgage Brokers, agrees that regular reviews are not just about increasing income but about genuinely safeguarding clients’ financial wellbeing. He notes that during these check-ins, new needs often surface—whether for equity release, debt restructuring, or investment planning. In today’s fast-changing market, Nayyar believes brokers who stay in touch gain both client loyalty and competitive advantage.
In conclusion, maintaining regular contact with clients is not merely a courtesy; it is a critical practice that benefits both parties. It ensures clients remain financially aligned with current conditions and helps brokers build resilient, trust-based relationships that drive long-term success.
