Most consumers continue to favour personal interaction when arranging a mortgage, despite the rising popularity of digital tools for day-to-day financial management, new research from L&G Mortgage Club shows.
Just 7% of consumers would be comfortable using automated tools to arrange their mortgage, and only 5% would opt for AI chatbots.
More than half (58%) of consumers said they would prefer to receive mortgage advice from a person, with over 45% stating a preference for a face-to-face meeting and 12% favouring a video or phone call.
Notably, a majority of Gen Z respondents (47%) said they would choose to arrange a mortgage through a face-to-face session with an adviser, highlighting the emotional and financial complexity of the mortgage journey and the continued demand for expert and personal guidance.
The research shows that consumers still value holistic advice for long-term financial decisions like a mortgage. Almost two thirds of respondents (58%) prefer to receive comprehensive financial guidance on mortgages, pensions, and protection from a single trusted adviser.
Even among the younger generation, consumers are cautious of automated mortgage advice. The data shows that 54% of 16-24 year olds said they preferred to receive all their financial advice – whether it related to a mortgage, a pension or protection – from one single adviser.
In contrast, 44% of 16 to 24-year-olds are not comfortable at all with receiving robo-advice or mortgage recommendations with no human interaction.
Most advisers agree that face-to-face advice will continue to be an essential part of the mortgage process over the next 30 years, while two-thirds (66%) say it will become even more important in future. Just under a third of mortgage advisers (30%) point to the emotional and complex nature of mortgage decisions as a key reason for the enduring value of human guidance.
However, the rise of technology has introduced new anxieties in the sector. When asked about their biggest concern for the future of mortgage advice, 40% of mortgage advisers cited disruption from digital and AI-powered platforms. At the same time, 41% identified fluency in AI tools and technology as the most critical skill for mortgage advisers to remain relevant in the next 30 years.
Clare Beardmore, director of distribution and Mortgage Club at L&G, said: “As technology evolves, we must remember the importance of quality advice for customers, with reassurance, trust, and human connection at its core. Our research shows that, despite the rapid rise of automation and AI, borrowers still place enormous value on expert advice from a person. The mortgage process is not just a transaction, it’s one of the most complex and emotionally significant financial decisions a person will make. That is why advisers continue to play such a vital role in helping borrowers make informed decisions.
“Looking ahead, there is no doubt that digital tools such as AI will become more embedded in the advice process. But this should be about complementing advisers, not replacing them. The future of advice lies in a hybrid model, where technology enhances the customer experience and advisers continue to guide borrowers through the mortgage journey with empathy, insight, and personal support. As the market evolves, the industry’s commitment to quality, holistic advice remains essential for sustainable homeownership in the future.”
