It has been just over two years since The Mortgage Mum co-founder Sarah Tucker launched the all-female brokerage, following her stint on ITV’s The Voice. Whether it be mortgages, mental health or the menopause, those familiar with Tucker know she is not one to shy away from the issues close to her heart.

The firm has already grown to a team of 35 and notched up five awards. Tucker herself has become a recognisable figure within the mortgage industry, often championing the cause of working mums as well as being a strong advocate for flexible working and mental wellbeing.

Central to the brand is the belief that, through flexible working, women can thrive and be successful mortgage brokers while also being present in their children’s lives — instead of feeling forced to make a choice between the two.

Covid has made lots of men realise that they too have a desire to work around their family

On the surface, the brokerage appears to have all the hallmarks of an overnight success story. It has experienced revenue growth of 1,200% in the past two years, with the firm being profitable in each of those years.

Yet the brand’s achievement was by no means a given when it launched into a heavily male-dominated industry back in September 2019. Added to the mix has been Covid-19, a challenging time for all, especially working mums.

How has the team navigated its way through the past two years? Mortgage Strategy spoke to Tucker.

Slow start

Regarding the brand itself, Tucker says the concept got a little lost in translation at the outset, which resulted in a slight rejigging of the firm’s marketing.

“It was a slow start and initially we had people say things like, ‘It’s nice you’re making mortgages pink,’ or they thought we were like Sheila’s Wheels, only offering mortgages for mums or single parents,” she explains.

I was lucky to find a forward-thinking, flexible man in the industry who was open to trying a new way of working

While the brokerage may be made up of mums, its client bank is diverse, catering for everyone from first-time buyers to those with Japanese knotweed.

Based at her home in Leigh-on-Sea, Essex, Tucker has 27 self-employed brokers all over the UK, working online and under The Mortgage Mum umbrella. Although she is looking to recruit more, finding the right fit for the business is not always straightforward.

“I once believed that anyone could be a mortgage broker,” she says. “I don’t think that is true anymore.

“Mortgage broking is like the music industry; some people have it and some people don’t. You can get qualified but that does not make you a good broker.

If we are doing female-only awards, at what point are we in danger of accidentally overlooking the men?

“Employed mortgage broking is different and I believe you can be trained to do that well, as long as you are good with people.

“Working as a self-employed broker is a whole different job de-scription. You have to be disciplined, find leads and motivate yourself, and that takes a certain type of person,” says Tucker.

Changing perceptions

The concept of flexible working can also stir up misconceptions about what the role may involve.

“It’s not a case of meeting a friend for coffee in the morning and doing a couple of mortgages in the afternoon,” she says.

“While that may come further down the line, the initial two years for recruits can be a slog. As a business, we get our leads from social media, podcasts, reviews and previous clients, but we train our team in how to get their own leads as they will earn more money that way.”

As well as recruiting experienced brokers, the firm runs a twice-yearly training academy for those looking to enter the industry. Tucker is strongly opposed to the competitive sales culture that can drive some brokerages. Instead, she aims to invest in the wellbeing of new recruits, with an emphasis on collaboration and ‘winning together’.

It’s not a case of meeting a friend for coffee in the morning and doing a couple of mortgages in the afternoon

“What we don’t want to do is drop our new starters in at the deep end. I believe in the power of coaching.

“We all have the ability to sabotage our success because we have things going on in our lives, and sometimes we just need somebody to notice that and talk to us about what is holding us back and why,” she says.

Tucker is assured in her vision for the firm, yet not all have warmed to the idea of a mortgage mum.

She was recently confronted by the view: ‘I wouldn’t want a mum doing my mortgage for me.’

The naysayers fail to discourage her, though.

During Covid, it was no longer just managing my team but being responsible for their wellbeing

“Why wouldn’t you want a mum doing your mortgage? We focus on quality, we don’t churn — which means clients get a really good service.

“I always think that’s fine. I don’t need to change their mind, I just need to keep doing what I’m doing and prove them wrong,” she says.

As for the reaction from the industry, Tucker feels peers have resonated with the brand.

“Early on, I was invited to speak on a podcast about mental health. Instead of the other speakers viewing it as a competitive thing, they fully embraced what I was trying to do with the firm and liked that it was something different, telling me I made them think about their own business and what they needed to do better.

“The more conversations we have, the more people are celebrating what we do. I have had women approach me at awards events and thank me for raising some of these issues.”

Defining moment

While the ethos of The Mortgage Mum and its strong online presence have undoubtedly contributed to its success, Tucker says the pandemic, unexpectedly, was the real turning point.

if we can do this for women, so can other companies

“When I look back, I think lockdown was the making of me as a leader,” she says.

Covid-19 could not have come at a worse time for the business. Just six months after launch, the UK was plunged into lockdown and with that came the expectation that parents — predominantly mums — would not only work from home but also home school their children.

Like most people, she describes home schooling her two young children as “a nightmare”. But during this time she felt she also solidified the brand and its culture.

“During lockdown I felt very responsible for my team who had their children at home and were trying to work, but it gave me such a purpose. My mind was not on Covid-19, it was on building the business. It was no longer just managing my team but being responsible for their wellbeing,” she says.

I have had women approach me at awards events and thank me for raising some of these issues

The general move to online working was also a double-edged sword for the firm.

“Before Covid-19, nobody had heard of Zoom. I remember going into networks and explaining what Zoom was and how we could use it in a safe way. Initially that was our niche but, almost overnight, our main unique selling point was taken away,” she recalls.

Yet, ultimately, this worked in the firm’s favour.

“A lot of time and energy used to go into trying to make our clients feel safe online and comfortable using video calls. Now we don’t have to do that and clients expect nothing less,” she says.

The Mortgage Dad

As The Mortgage Mum grows in both size and popularity, so does the elephant in the room — what about The Mortgage Dad?

The success of the female-only brand inevitably leads to questions about its own diversity.

You can get qualified but that does not make you a good broker

Unbeknown to many, however, working alongside Tucker is its other co-founder and director, Jamie Lewis.

Lewis, who also runs his own brokerage locally, leaves the day-to-day running of the business to Tucker but is a visible presence behind the scenes.

Before setting up the firm the pair worked together and it was this collaboration that helped form the brand.

“Jamie took a chance on me and allowed me to blueprint what would later become The Mortgage Mum,” says Tucker.

“I used to work as a broker from home, working around my children. I was lucky to find a forward-thinking, flexible man in the industry who was open to trying a new way of working. And we both discovered it really worked.”

On the subject of welcoming dads into the fold, she is open to the idea.

We don’t drop our new starters in at the deep end. I believe in the power of coaching

“When we set up the brokerage, women needed a safe space to work that wasn’t widely available.

“I was one of the lucky few to find one but most other women were struggling. They wanted an environment that encompassed flexible working and wellbeing at the heart of its culture, instead of being expected to fit into a male stereotype that didn’t always suit them,” she says.

“We recognise that this desire is shared by men. I think Covid-19 has made lots of men look up and realise that they too have a desire to work flexibly around their families. They too want to be supported with their overall wellbeing. The male suicide rates speak for themselves and this is an issue that needs addressing.

“We are always very open to hearing from men who feel called to work with us and we always offer our support to those who have reached out in the past.

“A male brand is certainly on the cards. I can’t say too much more on this, other than, ‘Watch this space,’” she says.

When I look back, I think lockdown was the making of me as a leader

There is a danger, of course, that too much emphasis on one gender will widen, rather than reduce, the continuing gap between the sexes. Women-only awards events are an area where opinion is divided.

“I do think we need to be careful,” says Tucker. “If we are doing female-only awards, at what point are we in danger of accidentally overlooking the men?”

She continues: “Can you imagine if somebody held men-only awards? They would get crucified.

“If we are really serious about equality, we probably need to have a conversation about not having women-only awards. But I say that as the managing director of a female-only brokerage. I don’t think we are there yet. We still need the awards to inspire more women to enter the market.”

Leading the way

Tucker hopes one day the industry will have reached the point where the concept of a ‘mortgage mum’ isn’t needed, and flexible working for parents is the norm.

“We are talking about it and that is the first step. We can see the problem but there is still so much work to do.

Working as a self-employed broker is a whole different job description

“I get stories in my inbox every day from mums who have been mistreated, overlooked or made to feel bad. When I launched the business, I knew it was needed but I didn’t know how much it was needed.

“There are too many women out there and I can’t help them all. So I will change the industry instead,” says Tucker, smiling.

“I will get everybody to see there is not one formula for success and, if we can do this for women, so can other companies.”