FinTech platform slashes charges to mortgage advisers for a second time

FinTech platform slashes charges to mortgage advisers for a second time


Todays other news
In the past four years 50% of buyers have been...
The number of first time buyers is up 19% in...
Almost a fifth of sales now encounter gazundering, a firm...
Details are coming soon - but no real details yet...
Currently the deadline is April 1...


Unbiased, a platform for connecting with prospective clients, has slashed charges it imposes on mortgage advisers for a second consecutive month.

Unbiased claims its data shows enquiries growing 16 per cent year on year but says the charge reduction is “to support the industry in the immediate term.”

It’s cutting the cost of all enquiries in tiers 3, 4 and 5 by an average of 20 per cent for a four-month period. It already made a price reduction in January.

·         Tier 3 enquiries (customers with £100,001 to £150,000 in assets) – 11% enquiry cost reduction , following a 21% reduction in January;

·         Tier 4 enquiries (customers with £150,001 to £250,000 in assets) – 19% enquiry cost reduction;

·         Tier 5 enquiries (customers with £150,001 to £250,000 in assets) – 8% enquiry cost reduction.

Chief executive Karen Barrett says: “Unbiased was built on the foundation of enabling easy to access advice for all; however, in today’s climate this has become increasingly difficult for mortgage advisers in particular. Although we are seeing high demand for mortgage advice, customers are finding it harder to find new deals that make it compelling to act.

“These latest price changes come in recognition of the increasingly complex and challenging economic conditions being faced in the mortgage market, and is aimed at further supporting business growth in the industry.

The platform has also issued four tips, based on user activity, to help advisers optimise chances of conversion:

·         Make the adviser the first point of contact. Most customers expect the individual who will be providing their advice to be the first person they speak to so that they can gauge their expertise, whether there’s a fit, and get comfortable. Wherever possible, ensure your organisation gives this opportunity, rather than delegating the first-contact to back-office staff or other members of the team.

·         Build trust first and foremost. One of the most common reasons for an enquiry going cold after the first call is because customers found the advisers’ information requests too invasive – especially regarding mortgage suitability. Be careful not to request too much information upfront, and instead focus on building their trust first.

·         Find out what communication channels they’re comfortable with. Speed and convenience are essential parts of the services we deliver, but that doesn’t mean messaging apps such as WhatsApp are always the right way forward; in fact, when it comes to commercial dealings, consumers said the informality of these platforms can be off-putting. Make a point of asking prospective clients upfront which channels they feel most comfortable sharing information on – and stick to it.

·         Make transparency a priority. While Zoom and teams can make meetings easier and more convenient, many clients find a lack of face-to-face contact unnerving, so give them the option to meet in-person where you can. Make sure you’re clear about your fees and how you collect them, too, to keep building their trust.

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Introducer Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
In the past four years 50% of buyers have been...
The number of first time buyers is up 19% in...
Details are coming soon - but no real details yet...
The mortgage applications have risen most from first time buyers...
A prominent agency expects anxious buyers to keep searching...
Lenders are being accused of refusing to lend against properties...
Recommended for you
Latest Features
In the past four years 50% of buyers have been...
The number of first time buyers is up 19% in...
Almost a fifth of sales now encounter gazundering, a firm...
Sponsored Content
Historically second charge mortgages or secured loans as they are...
Lenders must say what they mean and mean what they...
Fraudsters attacking the conveyancing sector, successfully stealing large sums of...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here