Why join a mortgage advice network?

Safe as houses

One of the most important reasons brokers join a mortgage advice network is the layer of protection it provides between themselves and the regulator.

Regulation in the mortgage advice industry is rising, particularly as new Consumer Duty standards come into effect. While this is a good thing for consumers and the industry as a whole, it does place an increasingly large onus on brokers to demonstrate how they’re meeting regulatory expectations.

By becoming an appointed representative, the mortgage network will shoulder the lion’s share of the compliance burden for the broker. This means mortgage advisers can spend more of their time providing quality advice and securing good outcomes for their clients, and less time worrying about compliance.

Navigating the market

With inflation soaring to levels not seen in decades and interest rates also on the rise, the mortgage market has become increasingly volatile for consumers. For those on fixed-rate mortgages due for renewal, or looking for their first home, the impact on the lending market is generally not welcome news.

But as demand to find a good mortgage deal rises, there’s rarely been a better opportunity for mortgage advisers to demonstrate the real value of their advice. Tapping the marketing support that many mortgage broker networks like Tenet offer can be the perfect way to stay ahead of the curve and win a good slice of this market.

Tech and research support

One of the greatest benefits of mortgage networks for independent mortgage advisers is access to ready-made research and technology systems.

In a market awash with thousands of products, research and provider due diligence can quickly eat away at a mortgage brokers’ time. Luckily, mortgage networks can do much of the leg work, easing the burden on brokers and giving them the confidence they’re recommending only the best options for their clients.

Similarly, some networks provide mortgage advisers with access to market-leading administrative technology and systems. This builds greater operational efficiency while also helping mortgage advice businesses adapt to a more digital landscape.

Professional reassurance when you need it most

Finally, perhaps one of the biggest benefits of being an appointed representative in a network is simply the peace of mind they can provide. With changes in the market seemingly coming from all directions, the knowledge that you don’t have to deal with such upheaval on your own is often the reason cited by mortgage advisers for remaining with a network. The support, guidance, and insight that networks provide, alongside the networking opportunities with other like-minded advisers, can make all the difference during challenging times.