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Customer service remains top priority when choosing a mortgage provider

When choosing a mortgage lender, customer service remains a “definitive priority” for borrowers, results from a Computershare survey found.

Computershare, an Australian stock transfer company, conducted a survey of 1,082 borrowers, which asked: “Other than low interest rates, costs and the terms and conditions of a mortgage, what’s the most important factor in choosing a lender?”

Being able to speak to someone when needed was selected by more than two fifths (42%) of respondents, with more than one in five (21%) choosing online account management.

“As the mortgage market changes, with both new lenders and developing technology coming on board, it’s important to remember that customer service remains a definitive priority for borrowers when they select a provider,” said Andrew Jones, chief executive officer at Computershare Loan Services said.

“The best lenders will be able to tailor the way they interact with their customers in a way that suits them best, and make sure borrowers are not excluded because of the way they are willing or able to communicate.”

Some 8% of respondents claimed that a “high level of support if in financial difficulty” was the most important principle, with 6% prioritising finding a lender with a good financial status and a mere 1% saying they would be most likely to opt for a provider with high technological success rates.

In December last year, Computershare Loan Services launched a new “futureproof” online mortgage customer service platform that aimed to grow with the needs of its clients. It was also chosen by Sainsbury’s Bank as its mortgage servicing partner for its re-entering of the mortgage market, as well as being selected by new specialist lender, Vida Homeloans, to service its mortgage assets in a seven-year deal.

Jones, along with his team, created the survey to make sure Computershare were delivering the right services. “As a result of our findings, we’ll continue to offer a broad range of servicing options to our clients and their customers, combining human interaction with automated services, cutting-edge technology and leading online platforms,” he said.

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