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We reveal the results of the latest broker experience survey

Colin


Colin Barrett, Director of Mortgage Proposition

Published 14.11.2019

You may have received a phone call recently from a research company called BVA BDRC asking you to take part in a survey1 about Precise Mortgages.

Brokers are asked a series of questions about their experience with us, how we compare with other lenders, areas where we’re doing well and areas where we could make improvements.

We listen to the comments very carefully. It’s absolutely crucial in helping us develop new products and criteria, make service improvements and consolidate our position as the UK’s leading specialist lender2.

In a blog I wrote about last autumn’s survey, I said how delighted I was with the feedback we received from you. I’m pleased to report that the latest results are also very encouraging, although you did tell us there were areas where we can do even better.

Case placement

  • 85% of you said you’d placed a residential case with us in the last quarter, with 68% saying you’d placed a buy to let case with us.
  • 76% of you found it easy or very easy to source, place and complete cases with us.
  • Nearly 90% will place at least the same amount of business with us in the next six months.

Processing

  • 33% of you found it extremely easy to get a DIP – unchanged from the same period in 2018.
  • 17% said it was extremely easy to submit an application – unchanged from the same period in 2018.
  • 42% of you said the ease of completion was either extremely or very easy – up from 37% in the same period in 2018.

Areas for improvement

You told us you sometimes found the time it took to process your cases a little slow and that we could occasionally be too strict. You also told us we could make improvements to our underwriting process.

If you were called by BVA BDRC and took part in the survey, thanks very much for your feedback. If you haven’t been contacted yet, you might receive a call in the coming months. If you do, then please be completely honest; it’s a great opportunity to tell us what you really think. By helping us to help you, we can both work together to help the people that really matter – our customers.

1 BVA BDRC Mortgage Intermediary Experience Monitor Wave 5 (August 2019)
2 BVA BDRC Project Mercury Report Q2 2019

 

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