The Human Touch Still Matters
As artificial intelligence (AI) continues to transform the mortgage landscape, you might wonder if technology could ever replace the expertise of a mortgage broker. Recent research from Santander’s Broker Perception Barometer makes it clear: while AI is a powerful tool, brokers remain essential to the homebuying journey for most borrowers.
Key Findings from Santander’s Latest Survey
- 65% of borrowers say they couldn’t navigate the homebuying process without a broker’s support.
- Nearly 85% would use a broker again when buying or remortgaging.
- Saving money (29%) and time (26%) are top reasons clients value brokers, but guidance on taxes, changing rates, and emotional support are also highly prized.
- 82% of clients said their broker made them feel less stressed during complex situations.
- The average borrower saved £125 per month on mortgage payments by working with a broker, with those in the South East saving as much as £155 per month.
- Despite technological advances, 63% of borrowers still rely on personal recommendations to find a broker, while only 5% turn to AI.
Why Do Brokers Make Such a Difference?
AI can help compare deals and crunch numbers, but it can’t replace the reassurance, tailored advice, and deep market knowledge that an experienced broker provides. In a market shaped by shifting interest rates and evolving lending rules, having a trusted advisor by your side is more valuable than ever.
At My Mortgage & Protection Experts, our team combines decades of experience with technology-driven tools like our Sussed app, giving clients the best of both worlds: up-to-date market insights and the personal guidance needed to make confident decisions.
The Bottom Line: Trust, Savings, and Stress Relief
Santander’s data shows that most borrowers not only save money with a broker, but also feel more supported and less stressed throughout the process. As Graham Sellar, Head of Intermediary Channels at Santander, puts it: “AI provides support at the initial stages of deal research and exploration – but when it comes to making concrete life decisions, nothing can match the trust that is built through a broker.”
Recent Rate Reductions: More Opportunities for Buyers
It’s also worth noting that Santander recently reduced their residential and buy-to-let fixed rates, with new rates starting from 3.51%. Now is an excellent time to review your options—especially with expert guidance at hand.
If you’re considering your next move—whether buying, remortgaging, or simply exploring your options—get in touch with our team. We’re here to help you navigate the process, save money, and make informed decisions with confidence.
