Customers are increasingly looking for ongoing support from their broker, with six out of 10 borrowers saying they want notification before mortgage deals come to an end, according to recent research. 

This Mortgage Insights 20/21 survey, conducted by eKeeper’s parent company DPR Group, found one in two borrowers (49 per cent) were looking for better deals from their brokers. Its research indicated a third (35 per cent) of borrowers expect regular annual reviews, and one in four (26 per cent)  would like regular communications from their broker.

However this research also looked at broker capability and found a significant minority did not have the systems to deliver these services. In total 37 per cent of brokers surveyed said they did not have a technology solution to facilitate regular communication, and two third of this group had no plans to source such a solution in the future. 

This contrasts with the remaining 63 per cent of brokers that have invested in this technology. Of this group, two thirds said this technology had enabled them to retain over 60 per cent of existing business. 

eKeeper commercial director David Bennett says: “Our research highlights the desire from a good proportion of mortgage customers for a post-sale relationship like those employed by financial advisers.” 

Bennet says CRM systems, such as those offered by eKeeper, offer retention tools.  He says: “It is concerning from both a commercial and servicing perspective, that a third of brokers do not use any technology for retention and a large amount have no intention of implementing such tools.”

He adds that this technology can also facilitate additional protection sales and prevent the customer going straight to the lend for an automatic product transfer.