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Brokers adopt Covid-19 ways of working for the long-term

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Mortgage intermediaries have indicated they will retain many of the changes to ways of working implemented as a result of the pandemic even as restrictions ease, Paragon Bank research has found.

Paragon’s FACT survey found that 82% of brokers adopted online client meetings during the pandemic and over three quarters of those firms (77%) say they will retain these going forward.

Likewise, 61% of intermediaries held more online lender meetings since the onset of the pandemic and 73% will continue to utilise these.

Elsewhere, due to the lack of face to face networking opportunities, 65% of brokers said they made more use of online webinars, conferences and forums during the pandemic and 70% are likely to use these going forward.

Where brokers were less convinced of adopting Covid 19 ways of working in the long term was around remote working. Just over six in 10 firms (61%) adopted remote working for all staff during the pandemic and, of those, the same percentage plan to retain remote working in the longer term.

Moray Hulme, Paragon Bank Director of Mortgage Sales, said: “Brokers adapted quickly to the challenges of the pandemic and have clearly found some of the changes implemented beneficial for their business and their clients.

“Utilising online meetings makes absolute sense as it is more convenient for the client and helps the broker to make more of their day rather than travelling to meetings. Likewise, with online events and webinars, it makes more sense to spend an hour or two of your day logging into something you’re interested in rather than taking a whole day to travel to a location.”

He added: “As lenders, we need to respond to these changes and ensure that we are have the flexibility to adapt to intermediaries’ ways of working.”

For further information contact:

Michael Clarke
Head of Media Relations
Tel: 07740090746
Email: [email protected]

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551