Almost half of brokers feel they can be of assistance to borrowers who find themselves in difficulty with payments, according to a new study.
Almost half of brokers feel they can be of assistance to borrowers who find themselves in difficulty with payments, according to a new study.
Research conducted by the Intermediary Mortgages Lenders Association looked at 286 brokers and found that 48 per cent felt intermediaries can help borrowers in times of difficulty.
Some 38 per cent of respondents felt that it was not their role, and the remaining 14 per cent did not express an opinion on the subject.
Peter Williams, IMLA's executive director, comments: "Many, but not all, intermediaries are keen to play a more proactive role in supporting borrowers who may get into financial difficulty, seeing this as an integral part of the service they provide their customers over the long term."
He added that intermediaries are able to offer a much higher level of expertise and "independent advice" than borrowers would find elsewhere and that lenders would "generally welcome" the increased involvement of brokers.
Interested in the property market? Compare thousands of mortgages here