New market data reveals shift in advisor working hours

October 14, 2020 by Brendan O'Neill

Mortgage Advisors

The mortgage industry tech supplier Twenty7Tec has published its September industry findings, and they reveal a significant shift in the hours that advisors are now working.

The biggest takeaway from this latest batch of data is that the changes COVID-19 has led to within the industry appear to be having a knock-on effect on the working patterns of mortgage advisors. The report shows that the peak working hours for advisors are increasingly in the evenings rather than during standard office hours, with 2pm having been the average peak time for completion of work prior to the pandemic.

Evenings are now the main period when crucial documents in the mortgage application process – such as European Standard Information Sheets (ESIS) – are prepared, while Wednesday has replaced Tuesday as the day in the week that advisors complete the highest number of these forms.

Encouragingly, the Twenty7Tec data also shows that the overall picture for advisors remains healthy, with an increase in mortgage searches at every level, except 90%+ and first-time homebuyer mortgage searches, which have stayed at a high level.

James Tucker from Twenty7Tec told Financial Reporter that the change in advisor hours was one of the most interesting findings, adding:

“As more people work from home, it seems the property market will need to adapt to keep up with demand, justifying our new support hours launched last month.”

The continued buoyancy of the mortgage market is fantastic news for anyone who has a CeMAP qualification, and many will also welcome the more flexible working patterns.