5 August 2021
Eight out of ten brokers say flexible lending criteria is now a bigger priority for customers since the pandemic, according to a survey from Masthaven.
The lender’s report found that 79% of advisors say this feature has jumped in importance for borrowers since the start of the health crisis last March.
Other factors that have “significantly increased” among borrower’s considerations over this period are speed at 56%, flexible product features, 54%, and customer service, 52%.
Only 26% of brokers said low rates were more important now than before the pandemic.
The survey adds that 28% of brokers expect to see more borrowers financially impacted by the health crisis over the next 12 months, “including customers who took mortgage payment holidays, have been furloughed or have been put on the government jobs support scheme”.