More than four in five mortgage holders (83%) would use a broker again if purchasing a new property or changing mortgage provider, new research from Santander UK has highlighted.

The lender’s findings also indicated that 63% of borrowers couldn’t have gone through the homebuying process without the support of a broker.

Santander’s latest Broker Perception Barometer, a quarterly survey of 500 mortgage holders to measure consumer attitudes and sentiment toward brokers, revealed differences in how younger borrowers engage with brokers, notably around pace.

It showed that 75% of those aged 18 to 34 years old consider their broker as “responsive”, compared to 90% of those aged 35 years and above. This age group were also most likely to have found their broker using social media (13%) or an AI tool (8%), and most likely to communicate with their broker using Whatsapp (42%) at least once a week, compared to half (50%) of their older peers who claim they have never used it for the same purpose.

When asked who they turned to the most during the homebuying journey, first-time buyers said they speak to their mortgage broker (24%) more than their friends (22%) when seeking support with the process.

“During a time of global economic uncertainty, more than ever, borrowers look for guidance and a sense of security that they are getting the best possible outcome for their mortgage needs,” commented head of intermediary channels at Santander UK, Graham Sellar.

“Brokers play a hugely vital role in this - not only by securing the best deals and saving homeowners money – but providing reassurance and emotional support too.”

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