A study has revealed that many British consumers are fed up of mortgage lenders' impersonal and 'computer says no' approach.
Research found that a high proportion of borrowers feel that lenders' attitudes are unacceptable when it comes to anything but the most straight-forward of requests.
When it comes to getting the best deal, three times as many people believe they can get a better offer from a mortgage broker than a high street lender.
Almost two thirds of those interviewed believe high street mortgage lenders are failing to meet the needs of borrowers with more complex circumstances, such as those with multiple income sources, property rental income or simply having school fees to pay.
Many people believe there is an over-reliance on computers to make lending decisions, with two out of three saying this means lenders are failing to help people based on individual circumstances.
Nearly three quarters of those who took part said refusing to lend to someone simply because they were self-employed or had multiple incomes was not fair.
In fact, respondents were twice as likely to feel that lenders with underwriting teams who deal directly with cases are better able to understand customers’ individual needs and circumstances.
“Consumers are seeing through the headline mortgage rates they see on the high street, and recognising better deals and greater understanding of their situation lies elsewhere,” says Pete Thomson, marketing director at The Mortgage Lender, which until the end of April, will make a donation to charity for every new decision in principle it issues.
“Brokers can identify the right lender and the best deal for any circumstance, that’s clearly something people recognise and value,” says Thomson.