The first revealed the findings from the Legal and General Mortgage Club survey that the vast majority of mortgage brokers have seen their workload increase over the last three years whilst the second highlighted CML published data showing mortgage applications through brokers take longer but, on the upside, are more likely to complete, supporting the view than that brokers are handling high volumes of work. And this is before MMR comes into force!
Then I started thinking – a steadily improving property market coupled with the implementation of MMR could see further increases in those previously demanding workloads for brokers and I reflected on how the legal part of the mortgage process is already being managed to support brokers and alleviate their burden of work.
The property process appears complex to most clients – as they experience it irregularly so each time almost feels like the first time and the legal part of the process can be the most difficult part for clients to understand. Clear communication on the conveyancer’s website and in client facing collateral is critical to support brokers in educating their clients and reducing any unnecessary questions. In my own firm we’ve really focused on client communications in the last year or so to deliver a strategy of making legal services more accessible for clients, including developing both infographics and short videos to extend the range of communication media. These new techniques will, of course, benefit the brokers who work with us too!
As a national conveyancer Goldsmith Williams is at the leading edge and pioneered the harnessing of technology in the legal process. GW Live, our award winning case management system, complemented by Client Connect – a new web-based service for our clients enabling them to manage and monitor the progress of their own case, collectively mean brokers can efficiently keep up to date with their clients’ case progression and benefit from knowing clients can keep themselves up to date too. Recognising that, with increasing work pressures, many brokers are doing business ‘on the go’ we’ve also developed the free GW Live Mobile App.
Partnering with a conveyancing firm that’s geared up to working collaboratively with mortgage brokers will also give access to an account management team. We conveyancers know that brokers want to give their clients the best possible service experience. An account manager provides a single point of contact and puts the broker in direct dialogue with someone who will take responsibility to liaise internally and resolve any issues giving you timely answers to your questions and the opportunity to provide that excellent client service!
Although a steadily improving property market is good news when coupled with the implementation of MMR there could be testing times ahead for many brokers. Choose your conveyancing partner wisely and you’ll find that the elements of their service offer to you will help you to shoulder that burden!
