Almost half of mortgage intermediaries believe they have a role to play in helping borrowers that are struggling with arrears and possessions, according to the Intermediary Mortgage Lenders Association (IMLA).
Brokers also said it is important that lenders are notified early and many felt they could help their clients by liaising with a lender on their behalf. A survey of brokers, conducted by IMLA, found 48% embraced the idea that they can support borrowers in difficulty. However, 38% felt it was not their role to help struggling borrowers. Providing general advice and liaising with lenders are the areas that brokers felt they could be most helpful on, with each being highlighted by 15% of advisers. Peter Williams, executive director of IMLA, comments: “Many, but not all, intermediaries are ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes