We’re Powered by Partnership, meaning we are committed to working with brokers to find the best outcome for each and every case. This means we need to understand our customers and the processes our intermediary partners follow to support their clients.
We recently partnered with Smart Money People, key industry contacts and 23 other mortgage lenders to launch a comprehensive vulnerability survey. This survey aims to collect valuable insight around the challenges brokers face in identifying and supporting vulnerable customers, as well as the barriers that prevent brokers from disclosing vulnerability concerns.
By gathering broker feedback, the survey aims to provide the industry with a clear direction on how to better identify and support vulnerable clients. Allowing us, as lenders, to ensure we are delivering the best outcome for every case, no matter the circumstances.
The survey looks to address key questions, including:
- Do brokers fully understand the complexities of vulnerability beyond the obvious scenarios such as age or illness?
- Are our intermediary partners comfortable disclosing a customer’s vulnerability to us without fearing it might hinder the application?
- How can we streamline processes to ensure we are identifying vulnerabilities earlier in the customer journey?
- What further support or education do brokers need to effectively manage cases involving vulnerable clients?
Michelle Ash, National Account Manager at Newcastle Building Society
“Customers are at the heart of what we do, and understanding vulnerability and how this can affect advice and processes for brokers is important for us as lenders to grasp. By bringing together a collaborative group from different areas, with representatives who have a passion for this subject and the motivation to raise standards across our industry, we’ve really highlighted the topic and the support currently available. This survey allows intermediaries to share their insights on the issue, enabling us to work collaboratively to better support those customers who may need additional help either now or in the future. The survey is anonymous, with Smart Money People managing the process and results to ensure independence.”
The survey is now live and will close on Tuesday 15 October. Help support change across the industry by sharing your views and experiences. Complete the survey.