Customer service a priority for borrowers

September 11, 2017 by Brendan O'Neill

Borrowers

According to a recent study, borrowers rate customer service as one of the main priorities when looking for a lender.

In a survey conducted by Computershare, one of the top considerations when choosing a lender (other than low interest rates, terms and conditions of a mortgage, and costs) is the standard of customer service. The study of 1,082 respondents asked customers what was important to them in a lender, and being able to speak to someone when they needed to, was a priority by 42% of the respondents.

Over 20% believed that the management of an online account was a priority. Other respondents (8%) thought that receiving a high level of support from their lender if they were in financial difficulty was the most important factor when selecting a lender.

Finding a lender recognised for being successful financially is an important factor for 6% of respondents, while only 13% rated a successful lender in the world of technology to be an important factor.

According to the chief executive at Computershare Loan Services, Andrew Jones, customer service is a high priority for borrowers when looking for a new mortgage provider, especially as new technology and new lenders join the changing mortgage market. He added that successful lenders will be able to tailor their service provisions to customer requirements.

CeMAP mortgage advisors already adapt their services to the requirements of customers, so that they are able to offer a product that is the most suitable for their circumstances.