Intermediaries will continue to battle with direct lenders for the lion’s share of the market, with some direct lenders choosing to up-skill their existing sales staff to offer advice. The growth of aggregators provides an opportunity for brokers to win business, but also poses a threat by driving down prices and forcing brokers to bid for business.

1. Mortgages - Intermediary Focus - UK - April 2013
Intermediaries will continue to battle with direct lenders for the lion’s share of the market, with some
direct lenders choosing to up-skill their existing sales staff to offer advice. The growth of aggregators provides
an opportunity for brokers to win business, but also poses a threat by driving down prices and forcing brokers
to bid for business.
Some questions answered in this report include: Who will win the battle between direct lenders and
intermediaries? How can intermediaries demonstrate their value in the mortgage market? Can aggregators
work with intermediaries? Will there be a move from face-to-face to remote advice?
table Of Content
introduction market Definitions abbreviations executive Summary the Market for Now The Threat From
Direct Sales Remains figure 1: Proportional Distribution Of Regulated Mortgage Sales, By Channel,
2007/08-2012/13 market Factors number Of Intermediary Products Increases figure 2: Avelo Product Index,
Average Number Of Intermediary Products Available, April 2007-february 2013 companies And Key Players
number Of Advice Firms Continues To Fall figure 3: Number Of Directly Authorised Firms In The Mortgage
Intermediary Sector, September 2006- september 2012 the Adviser cautiously Optimistic About The Future
figure 4: Expected Change In Intermediary Annualised Income Over The Next Three And 12 Months, january
2013 advisers Are Spending More Time With Clients figure 5: The Effect That Market Conditions Have Had
On The Time That Intermediaries Spend With Each client, January 2013 direct Lenders Still Seen As A
Challenge To Intermediaries figure 6: Challenges Faced By Mortgage Intermediaries, January 2013
developing Cross-sales Is A Main Priority figure 7: Intermediary Priorities For The Next Six Months, January
2013 the Consumer consumers Use A Mix Of Resources In Arranging Their Mortgage figure 8: Sources Of
Advice And Information Likely To Use When Researching/arranging A Mortgage, december 2012 consumers
Are Self-sufficient In Undertaking Their Own Research, But Still Need The Reassurance Of intermediaries
figure 9: Mortgage Application Expectations And Intentions, December 2012 what We Think issues In The
Market who Will Win The Battle Between Direct Lenders And Intermediaries? how Can Intermediaries
Demonstrate Their Value In The Mortgage Market? can Aggregators Work With Intermediaries? will There
Be A Move From Face-to-face To Remote Advice? trend Application advisers Can Take The Hassle Out Of
Buying A Home target Future First-time Buyers mintel Futures: Generation Next market Drivers –
Broader Market Issues key Points consumer Confidence Remains Low figure 10: Gfk Nop Consumer
Confidence Index, January 2007-december 2012 property Prices Flat Line figure 11: Annual House Price
Growth In The Uk – Comparison Of Four Different Sources, Q1 2007-q3 2012 upward Swing In
Buying Intentions figure 12: Expected Mortgage And Property Purchase Activity, Q3/q4 2002-q3/q4 2012
mortgage Rates Remain Separated From The Bank Of England Base Rate figure 13: Bank Of England Base
Rate, Three-month (monthly Average) Libor And New Mortgage effective Rate, January 2006-january 2013
monthly Mortgage Approvals Remain Flat figure 14: Number Of Monthly Mortgage Approvals (seasonally
Adjusted), By Type, January 2009- december 2012 number Of Repossessions Continues To Fall figure 15:
Mortgage Arrears And Repossessions, Q1 2009-q4 2012 buy-to-let Continues To Outperform, But The Gap
Mortgages - Intermediary Focus - UK - April 2013

2. Has Narrowed Over 2012 figure 16: Annual Percentage Change In Gross Advances – Buy-to-let
Versus Total Mortgage Market, 2002-12 market Drivers – Internal Market Issues key Points number
Of Direct Products Continues To Rise figure 17: Avelo Product Index, Average Number Of Direct Products
Available, April 2007-february 2013 number Of Intermediary Products Increasing Slightly, But Nowhere
Near 2007 Highs figure 18: Avelo Product Index, Average Number Of Intermediary Products Available,
April 2007-february 2013 only Half Of Direct Sales Are Advised figure 19: Advised Sales, By Selling
Channels, April 2011-march 2012 the Mortgage Market Review government Help To Kick-start The
Mortgage Market the Funding For Lending Scheme help To Buy Scheme swot Analysis figure 20: Swot
Analysis, Mortgage Intermediary Market, 2013 lending Market Overview key Points little Change In Gross
And Net Advances In 2012 figure 21: Total Mortgage Lending, By Gross And Net Advances (not Seasonally
Adjusted), 2006-12 house Purchasing Increased In 2012, But Remortgaging Activity Fell By 13% figure 22:
Gross Mortgage Lending, By Type Of Loan, 2006-12 first-time Buyer Loans Reach Their Highest Level
Since 2007 figure 23: Loans Advanced For House Purchase, By Type Of Borrower, 2006-12 buy-to-let
Continues To Grow figure 24: Number And Value Of New Btl Mortgages Sold, 2004-12 intermediary Share
Of The Mortgage Market key Points intermediaries Slightly Increase Their Proportion Of Mortgage Sales
figure 25: Proportional Distribution Of Regulated Mortgage Sales, By Channel, 2007/08-2012/13 mortgage
Intermediary Marketplace key Points the Number Of Mortgage Intermediaries Continues To Fall figure 26:
Number Of Directly Authorised Firms In The Mortgage Intermediary Sector, September 2006- september
2012 sole Traders And Partnerships Feel The Strain figure 27: Number Of Mortgage And Home Finance Ars
And Da Intermediary Firms, By Type, September 2008-september 2012 company Profiles intrinsic Financial
Services figure 28: Key Financial Data For Intrinsic Financial Services, 2010 And 2011 legal & General
figure 29: Key Financial Data For Legal & General (housing And Protection Business Segment), 2011 And
2012 tenet openwork figure 30: Key Financial Data For Openwork, 2010 And 2011 personal Touch
Financial Services figure 31: Key Financial Data For Personal Touch Financial Services, 2010 And 2011
sesame Bankhall figure 32: Key Financial Data For Sesame Bankhall Group, 2010 And 2011 brand
Communication And Promotion key Points advertising Budgets Have Improved, But Are A Long Way Off
Pre-2009 Figures figure 33: Amount Spent On Advertising In The Mortgage Intermediary Sector, 2008-12
top Five Advertisers Made Up Two Thirds Of Expenditure In 2012 figure 34: Top Ten Advertisers In The
Mortgage Intermediary Market, 2010-12 internet Advertising To Mortgage Intermediaries Has Almost
Doubled Since 2011 figure 35: Advertising Channels In The Mortgage Intermediary Sector, 2011 And 2012
websites Becoming A Favoured Form Of Advertising To Intermediaries figure 36: Top Ten Advertising
Media Used By The Mortgage Intermediary Sector, 2012 a Note On Adspend the Adviser Outlook key
Points advisers Are Cautiously Optimistic About The Future Income figure 37: Adviser Expectations Of
Change In Income Over Next Three Months And 12 Months, january 2013 intermediaries Cite Clients
Remortgaging To Get More Competitive Rates As A Key Reason For growth the Slow Mortgage Market Is
The Main Cause For Concern advisers’ Cautiously Optimistic Outlook Is Similar To Last
Year’s figure 38: Adviser Expectations Of Change In Income Over Next Three Months And 12
Months, January 2012 the Adviser – Time Spent With Clients key Points mortgage Advisers Are
Spending More Time With Their Clients figure 39: How The Time Intermediaries Spend With Their Clients
Has Changed, January 2013 the Adviser – Challenges And Priorities In The Mortgage Intermediary
market key Points competition From Direct Lenders Remains A Challenge, According To 43% Of
Intermediaries figure 40: Challenges Facing Mortgage Intermediaries, January 2013 difficult Economic
Conditions For First-time Buyers Seen As A Challenge For Advisers advisers Do Not See The Rise Of Online
Mortgages - Intermediary Focus - UK - April 2013

3. Comparison Sites As A Challenge almost Half Of Advisers See Developing Cross-sales As Their Main
Priority figure 41: Mortgage Intermediary Priorities For Next Six Months, January 2013 increasing
Marketing Activity Is A Priority For Almost 40% Of Advisers few Advisers Planning To Invest In New
Technology the Consumer – Mortgage Arrangement Preferences key Points online Sources Are
Gaining Popularity figure 42: Sources That Consumers Are Likely To Use When Researching Or Arranging
A Mortgage, december 2012 consumers Are More Likely To Turn To Advisers In Their Own Bank As A
First Port Of Call consumers Are Likely To Use A Mix Of Sources When Arranging Their Mortgage price
Comparison Sites Are Key For Remortgage Customers figure 43: Sources That Consumers Are Likely To
Use, By Mortgage Application Intentions, December 2012 ftbs To Look To Their Own Bank/building Society
And The Internet the Consumer – Attitudes Towards Applying For A Mortgage key Points almost
Half Undertake Their Own Research To Find The Best Deal figure 44: Mortgage Application Expectations
And Intentions, December 2012 a Third Of Consumers Need Advice In Order To Apply For A Mortgage
consumers Are Less Likely To Expect Advice When Remortgaging figure 45: Agreement With Statements
Relating To Arranging A Mortgage/remortgage, By Type Of Mortgage customer, December 2012
experienced Consumers Are The Least Trusting Of Bank-based Advisers bank/building Society Mortgage
Advisers Are Less Trusted figure 46: Agreement With Statements Concerning Trust In Advisers, December
2012 self-sufficient Consumers Research The Best Deals Before Going Directly To The Lender figure 47:
Agreement With Statements Relating To Arranging A Mortgage/remortgage, By Sources Likely To use,
December 2012 consumers That Use Friends And Family Expect To Need Professional Advice
intermediaries Used To Take The Hassle Out Of Applying For A Mortgage appendix – Market
Background different Types Of Mortgage Advisers appendix – Consumers Arrangement Preferences
figure 48: Most Popular Mortgage Research, By Demographics, November 2012 figure 49: Next Most
Popular Mortgage Research, By Demographics, November 2012 appendix – Consumer Attitudes
Towards Applying For A Mortgage figure 50: Most Popular Attitudes Towards Applying For A Mortgage,
By Demographics, November 2012 figure 51: Next Most Popular Attitudes Towards Applying For A
Mortgage, By Demographics, November 2012 uk Research Methodology consumer Research sampling And
Weighting definitions qualitative Research trade Research informal formal desk Research statistical
Forecasting european Research Methodology
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