Top Brokers 2024 | Mortgage Introducer

May 25, 2024

6 minutes read

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Broker brilliance

Mortgage Introducer recognises the Top Brokers of 2024, an elite group of driven high achievers who have collectively written £2.4 billion in home loans during one of the most challenging markets in recent times.

In the fiscal year ending 31 December 2023, the top 18 mortgage brokers wrote an average of 332 residential mortgages, with an impressive year-over-year growth rate of 110%.

This year’s top-tier brokers have honed strategies that contributed significantly to their exponential business growth and positioned them to stay ahead in this demanding lending environment.

These strategies include:

Industry expert Andrea Glasgow of Hampshire Trust Bank says, “One of the attributes that sets good brokers apart from the fantastic ones is creativity. If you have that and a ‘won’t say quit’ attitude, then you can make a dramatic difference to your clients.”

While Karen Rodrigues, also an industry expert from Market Financial Solutions, says, “It’s about being responsive and communicating with the client in the way they want. Then it’s having the knowledge to do a full fact find so the recommendations they give are fulfilling the client’s needs or the majority of those that they possibly can.”

What sets the UK’s best mortgage brokers apart?

John Murray – Firstxtra Financial Services

Rank #5 with 67% year-over-year growth

The director of mortgages’ motto encapsulates his success: be the hardest working person in the room.

“I always say it doesn’t feel like work because I love what I do, and I’m passionate about helping people,” Murray says. “There’s nothing like a bit of good, old-fashioned work, but you have to balance between having a high volume of clients and maintaining the quality of your work, giving the absolute best service you can and going that extra mile for them.”

Murray laments that good customer service can be hard to find, generally. Still, his ethos enables him to deliver an exceptional client experience by treating people how he wants to be treated.

“It has been my experience and our firm’s experience that it’s possible to do well and do good at the same time”

Claire HunterHunter Litigation Chambers

His client-first strategy also includes:

focusing on building long-term relationships

establishing trust through effective communication and building rapport

acknowledging loyal clients by offering flexible fee structures during renewals amid increasing mortgage rates and costs

“My role as an adviser has never been about just telling people what I think they should do,” he says. “I’m passionate about education, and my discussions with clients are quite detailed and informative about how mortgages work.”

Anthony Mallandain – Skyline Mortgage Consultants

Rank #9 with 15% year-over-year growth

Having a resolute commitment to delivering outstanding client experiences and a strong online presence has helped drive the founder and managing director’s recognition as among the best mortgage brokers in the UK.

Over 100 5-star Google reviews from satisfied clients have contributed significantly to the broker’s success as potential clients turn to the internet for information and recommendations.

“Customer service is key for us,” Mallandain says. “It’s exciting to get a new client, but even more so to keep them.”

“It has been my experience and our firm’s experience that it’s possible to do well and do good at the same time”

Claire HunterHunter Litigation Chambers

The top broker has honed a client service approach that enables him to adapt to industry changes and provide quality advice by:

listening to and understanding their needs to tailor solutions

explaining complex concepts, ensuring they have a clear understanding of their options and obligations

offering specialised guidance to different client demographics, such as first-time buyers and self-employed individuals

“If you don’t pay attention to what clients want and just push what you think is best, it won’t work out,” he says. “They need proper guidance.”

Top mortgage brokers leverage established networks to stay ahead

Change comes fast in the UK mortgage market, and top brokers prioritise keeping themselves informed to serve their clients better.

Mallandain and Murray benefit from being part of strong broker networks, The Right Mortgage and PRIMIS, respectively. From webinars to in-person events on all facets of the industry, the networks provide invaluable resources and opportunities for professional development and remain at the leading edge of trends and challenges.

“We have to act quickly because things can change rapidly,” says Mallandain. “The Right Mortgage network is excellent and has strong compliance standards and monthly meetings to provide updates on the business and from the lenders.”

Murray acknowledges that the significant changes in interest rates and market conditions demand ongoing education and training. He regularly meets with his colleagues to discuss best practices, sales processes and industry trends.

“If mortgage brokers want to be operating at a high level, we’ve almost had to become amateur economists more so than in previous years,” he says. “No two clients are the same, so you’re always learning.”

While Murray passes on his expertise to junior brokers as a mentor, Mallandain cites his mentor as instrumental in helping him interact with clients more effectively.

Defying odds and delivering results

Complex mortgage situations highlight top brokers’ skills and expertise as they work to find their clients’ optimal solutions.

Murray recalls a client who approached him for help after being disappointed with the services of other mortgage professionals who didn’t find them a solution.

Challenge: The client was on a high variable rate mortgage with their lender but needed a different solution due to the difficulties of accumulated debts and fluctuating earnings. The primary issue was affordability and being able to borrow their desired amount.

Solution: Recognising the scenario wasn’t straightforward, Murray conducted an in-depth fact-finding mission with the client and discovered they were in line for a promotion, a pay raise and a monetary gift from family. With the ability to reduce their debt load, Murray applied with two lenders, but they declined. He didn’t give up and eventually found the best lender match for the client, ultimately saving them £1,100 a month with his advice and guidance.

“I believed that with the right level of attention and effort, I could get the best possible outcome for them,” he says.

Mallandain points out that every day seems to bring new challenges, particularly during these financially tight times.

Challenge: Staying up to date on fluctuating rates and ensuring clients are on the right one before finalising deals. He says the current market is especially hard for self-employed individuals and prioritises finding the right lender for each client.

Solution: There is no room for error, and Mallandain ensures every aspect of the deal is spot-on, so no one regrets their mortgage decisions down the line. He has profiled various case studies on his website, emphasising that he works with a diverse range of lenders, upward of 25, that cater to different client scenarios.

“Sticking with the basics is crucial right now, and I believe everyone needs proper advice; that’s the way forward,” he says.

Winning strategies put clients first

The best mortgage brokers raced ahead, gaining a competitive advantage during last year’s volatile market by navigating the rapid pace of change and ensuring their clients were informed with emails, newsletters and phone calls.

Murray underscores the main element guiding his approach, “We always want to do the right thing for the customer, and that’s at the heart of what we do. It’s a challenging market for everyone, so we’ve got to find these new ideas and opportunities, like introductions from estate agencies.”

He advocates for lenders to boost support quality through their business managers and call centre teams, offer a more diverse product range and enhance their technology to streamline the loan process.

In addition, Mallandain highlights the need for lenders to contribute to the industry’s overall client-centric focus. Lowering interest rates and instituting higher loan-to-income ratios, particularly for first-time buyers, would help brokers’ ability to serve a broader client base more effectively.

“The customer is paramount in everything we do,” he says. “I’m ensuring that referrals come from people genuinely satisfied with our services. It’s about consistency, maintaining our standards and attracting new clients so we can continue to grow and assist them with various financial needs.”