Mortgage brokers are most concerned about attracting new clients and dealing with regulatory change, according to research by NatWest Intermediary Solutions.
Other fears include: retaining existing clients, marketing their businesses more effectively and diversifying into non-mortgage markets.
When it comes to regulation, the biggest concern cited by over a third of brokers (36.5%) is the potential increase in costs.
One in five said their main concern was a potential rise in paperwork, with 14.4% worried about the increase in time they will need to sell mortgages in the future.
A tenth felt they did not understand what the potential new regulation will mean for their business although 18.3% were confident any new regulation would have little effect on their business.
The survey also found six in 10 brokers send regular communications to their clients via e-mail or post, with around 40% running an up-to-date website. Just under a fifth advertised in the local press and 12.4% have an enhanced listing on Yell.com. Less than one in 10 contributed editorial regularly to the local press.
Graham Felstead, head of intermediary channel at NatWest Intermediary Solutions, says: "It is not surprising that the prospect of new regulation provokes a variety of responses from the intermediary community, with many concerned about additional demands being put upon their financial and human resources, especially when they are keen to invest resource into attracting and retaining clients."
NatWest Intermediary Solutions is holding a forum event at the O2 Arena on 20 May on both regulation and marketing for brokers. The forum features a mix of key note speakers and business development seminars on a variety of topical issues.
To book a place at this free-to-attend event, brokers can register here.
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