A new survey of mortgage advisors based across the country has found that they are busier now than they were back in 2020, with information and reviews for clients accounting for much of this activity.
Aviva spoke to mortgage advisors and compared the results of this survey with one that they conducted back in the late summer of 2020, following the end of the initial Covid-19 lockdown. Back then, 59% of these advisors stated that clients were seeking greater levels of information from them than in the pre-pandemic era and that has continued to be the case in the years since then.
Whereas three years ago, the majority of mortgage advisors (76%) completed annual client reviews. Just 4% of them do this now. Instead, 47% have now switched to carrying out these reviews once every quarter, with 38% doing so twice a year and 11% on a monthly basis. By comparison, three years ago the percentages doing reviews monthly, bi-annually and quarterly were 5%, 15% and 4% respectively.
The results of the survey also show that the increased customer interest in learning about different products that began three years ago has continued. Back then, 54% of advisors were reporting this and the figure has stayed roughly in that area since. More people each year are choosing to seek out a CeMAP training company so they can qualify as advisors.
Al Ward from Aviva stated that the events of the past three years had shown people how valuable professional advice can be.