Mortgage Strategy has teamed up with Mortgage Finance Gazette and The Openwork Partnership to launch annual service awards for the UK mortgage lending industry. 

The Mortgage Finance Gazette Rated for Service Awards, in association with The Openwork Partnership, are based on a comprehensive bi-annual survey that tracks brokers’ assessments of the lenders’ levels of service.  

Lenders will be appraised across five key assessment areas within three separate peer groups categorised as mainstream, specialist and buy-to-let.  Lenders will be recognised for their performance above the benchmark relative to their peers in each category.  

Twice a year mortgage brokers will be asked to assess the lenders they have done business with over the previous six-month period. Responses should only be based on this experience and brokers should not consider historic service levels.  

Results will be published in Mortgage Finance Gazette and Mortgage Strategy providing transparency on service levels across the industry.  Within an industry and profession faced with constant challenge and disruption the Mortgage Finance Gazette Rated for Service Awards will provide an important barometer of broker experience, enabling lenders to improve service levels which will ultimately help brokers to deliver better client outcomes. 

Group editor, Rebekah Commane says: “We are delighted to team up with The Openwork Partnership on this important initiative. These lender-specific service awards will introduce an objective, on-going assessment of service levels for the mortgage industry enabling lenders to keep pace with change and gain insight into the needs and wants of intermediaries and their clients.” 

Openwork proposition director Paul Shearman commented: “What is great lender service? It’s a question every mortgage broker will have a perspective on. Yet, what delights one broker may be of marginal value to another. Understanding broker priorities, recognising service excellence and identifying opportunities for improving industry standards is what this initiative is all about so I would encourage every broker to participate. HAVE YOUR SAY!” 

The inaugural broker survey has been launched today and will be open for approximately six weeks, with the publication of the first set of results expected in March 2023.  

A link to the survey can be found here.

Your voice counts and your experiences and opinions matter so please make sure you have your say.  As a thank you all brokers participating in the survey can also enter a free prize draw to receive one of four £250 John Lewis gift cards.* No client or case information will be required and your data will be treated confidentially.  

*Prize draw terms and conditions can be found here.