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After a year that saw the Bank of England trim the base rate from 5.25% to 4.0%, a brief October uptick, and a flurry of new offers from sub-4% fixes to green and personalised loans, brokers keep going back to lenders that get the basics right.
Akhil Mair, managing director of award-winning specialist finance brokerage Our Mortgage Broker, says deliverability is everything. “What we don’t want to do is spend time submitting an application, and it doesn’t turn into a completion.”
From start to finish, he stresses that brokers measure lenders not only on rates or fees, but also on whether they can deliver reliably, efficiently and in line with client objectives. Everything else, including technology, marketing and even pricing, is secondary to lenders’ ability to execute smoothly and close deals without delays.
The UK mortgage market remains heavily broker-led, with an estimated 5,600-plus brokers. Interpath analysis indicates that close to nine in 10 mortgages were placed through intermediaries in 2024, underscoring how central broker-lender partnerships are to distribution and service quality.
Regulation is shaping how those partnerships work in practice. The Financial Conduct Authority (FCA)’s Consumer Duty has moved from a compliance banner to business as usual, boosting expectations on:
price and value
consumer understanding
product fit
support
Firms must now evidence the how and the why behind advice and lending decisions, show fair value and maintain auditable records. Shared training and tighter feedback loops between brokers and lenders are practical ways to turn Duty from theory into practice.
Service remains the defining measure. Independent tracking shows brokers reward lenders that set a clear intermediary strategy and deliver through:
access
underwriting support
predictable turnarounds
Where lenders scored highest for strategic focus, they were more likely to be rated strongly for overall service as well, linking intent to execution. Product transfers eased affordability pressures for many borrowers but sparked tension over lower procuration fees, reminding lenders that incentives still drive loyalty.
Mortgage lending has lagged behind the digital convenience of other financial services. Booking a flight or transferring money takes seconds; securing a mortgage can still take weeks. Yet customer expectations have changed. Borrowers now expect transparency, speed and intuitive digital experiences, and lenders are expected to deliver them.
The Bank of England and FCA’s 2024 Artificial Intelligence in UK Financial Services Report found that the UK mortgage market operates under strict regulation that protects consumers and market integrity, but the trade-off has been slow, paper-heavy processes. Nearly 40% of today’s mortgage journey still requires manual intervention, even as open banking, AI and automation make it possible to handle many of these steps instantly.
AI and automation are narrowing that gap:
Intelligent document processing now extracts and verifies income, ID and credit data across multiple files simultaneously, cutting origination time and costs.
Real-time affordability checks use open banking APIs, now used by more than five million UK consumers, to verify income based on live financial behaviour rather than outdated records.
Smart underwriting powered by machine learning can analyse risk factors in minutes, flag exceptions and produce full audit trails for compliance review.
AI-driven assistants handle routine queries around the clock, allowing human specialists to focus on complex or high-value cases.
Digital mortgage providers such as Habito and Mojo Mortgages already demonstrate what’s possible, delivering decisions in principle within minutes across multiple lenders. Adoption is rising quickly, according to joint Bank of England-FCA data, which shows 75% of UK financial firms now use AI, with another 10% planning to within three years.
Digital adoption also brings a warning. Some lenders have tested direct-to-borrower contact on live cases. Industry leaders warn that bypassing brokers risks eroding trust and undermining repeat business in a market built on relationships.
Chetwood Bank group sales director, Darrell Walker, told Mortgage Introducer in May 2025, “I’m not sure what lenders are gaining by doing so. I can certainly understand why it might frustrate many people in the broker community. It clearly creates some unrest that will likely turn into distrust. That’s not going to do lenders any favours. Our industry relies on repeat business from the broker community – cutting them out puts this at risk.”
The Intermediary Mortgage Lenders Association (IMLA) supports a framework that allows innovation while keeping advice at the centre of the market. It also points to supply constraints as the biggest brake on first-time ownership, a reminder that lending reform cannot solve a stock problem alone.
Three themes run through the market data that matter for this year’s Brokers on Lenders survey. Distribution scale sits with brokers, so lenders that invest in the channel tend to win on service.
Consumer Duty is pushing both sides to prove value and intent, not just outcomes, which elevates recordkeeping, transparent pricing and plain communications.
Technology is improving speed and reliability, but the winners emphasise automation with access to informed people who can exercise judgement on the files that need it.
Taken together, these forces set the bar for top performance:
faster decisions are now expected
practical support for brokers is table stakes
evidence of fair value is part of every case
Lenders that hold these threads together earn confidence in a market where choice is broad and loyalty is earned case by case.
MI’s Brokers on Lenders 2025 report tracks broker-scored performance across time-tested metrics. MI identified the winners after brokers across the UK rated the lenders they worked with over the past 12 months on 10 criteria, including interest rates, turnaround times, customer service, technology, underwriting support and commission structure. Lenders scoring 4.0 or higher out of 5 earned a place on the third annual list.
Respondents consistently praise lenders that are accessible, flexible and focused on partnerships. The difference between the top-performing lenders and the rest often comes down to how easy they are to work with, along with these strengths:
strong, reliable BDM support
accessibility and communication
flexibility and willingness to lend
service speed and process efficiency
relationship mindset over rigid processes
In contrast, brokers criticised some lenders for inflexible systems, slow turnaround times and poor accountability. Their feedback suggests that overly standardised processes or direct-to-consumer approaches erode trust.
MB Associates founder and managing director, Monica Bradley, says service has improved, but the gains come when lenders keep access open and decisions practical. The award-winning brokerage has served clients in Surrey and nationwide for over two decades and works with over 90 lenders.
“One standout example recently has been a lender offering us direct access to their underwriters for case discussions. This kind of enhanced communication is invaluable,” she explains. “It might not always fit neatly within standard policy, but pragmatic underwriting often makes complete sense. Being able to have an informed conversation allows the lender to fully understand the borrower’s circumstances and make a fair, reasoned decision.”
Automation helps, too. Typical turnaround is two to three weeks, yet offers can land within 24–48 hours when lenders use instant valuations and automated income checks. Bradley’s red line is pricing. “No dual pricing on interest rates is vital.”
Recognising broker work, even on product transfers, strengthens trust and keeps partnerships moving. Mair says turnaround times have improved as more lender teams returned to the office and competition pushed for faster responses. He credits proactive outreach from BDMs and a tighter market that forces lenders to raise their game.
Demand has cooled in buy-to-let, which makes agility and differentiation more important. He wants lenders to blend technology with human contact and make practical adjustments that speed decisions without adding steps. “What we would like to see is everyone thinking uniquely about how they can differentiate themselves from the rest,” he adds.
MI’s data reveals a broker market built on range and relationships. Nearly all brokers (95%) placed deals with five or more lenders in the past year.
More than three-quarters (77%) say past clients are their strongest source of new business.
Independent analysis from the FCA and the IMLA echoes this pattern, showing that brokers’ success depends on balancing wide lender relationships with enduring client networks, a structure that defines the resilience of the UK mortgage market.
This sits against a year of rate volatility, service variability and frequent product changes. Brokers have kept panels wide and prioritised long-term clients to protect outcomes.
Speed, flexibility and communication came through strongest in brokers’ comments about the best thing their lender partners have done for them in the past 12 months.
When choosing a lender partner, MB Associates’ Bradley says the client’s personal situation dictates the priorities, whether that is maximum borrowing for first-time buyers, a competitive rate for older buyers, or flexible features such as offsetting.
Our Mortgage Broker’s Mair credits lenders for stronger outreach and better information flow. Marketing has improved, but what really matters are BDMs who stay in regular contact and keep product changes current.
The market offers an abundant choice across buyer types, which is good for borrowers but can overwhelm brokers. That is where advice matters most, across filtering options and steering clients to the most cost-effective fit over the short, medium and long term.
“Sometimes, we’re oversupplied with choice,” he says. “But that’s the beauty of our business. We seek the most cost-effective solution for our clients.”
Brokers repeatedly praise lenders for fast offers, same-day decisions and reduced documentation.
“Mortgage offer within two days”
“Offered within 24 hours of submission”
“Expedited urgent cases where the bank had let us down with lead times”
“Offered a case for same-day submission”
“Pulled out all the stops to create an offer for a client on short notice”
Many respondents highlighted underwriters who showed judgement, adapted policies or overturned decisions.
“The client was a victim of fraud, and the lender agreed to lend once they received confirmation rather than having to wait until credit reports were updated, which would have meant the client losing the property”
“Flexibility to overturn a declined case”
“Shown flexibility and a willingness to lend”
“Manually overturned a declined client due to an error on a credit report”
“Thinking outside of the box”
Direct access to underwriters and responsive BDMs continues to set the best lenders apart.
“Listen! Take time to understand the proposition, as not every case is standard”
“Offered support when required and was able to speak to BDM/UW on the phone”
“Listened to my explanation and overturned their decision”
“Came into the office to meet with me and explain things and the future of their business”
“Having a BDM who takes ownership of a problem and follows it through”
Brokers want lenders to move faster, communicate better, underwrite with more flexibility, make pricing keener and modernise technology – all core drivers of stronger broker-lender relationships.
But many say service execution still falls short, slowed by outdated systems, a lack of communication and unpredictable turnaround.
Bradley calls pricing volatility the biggest challenge. Rapid moves in swap rates trigger frequent rate changes, which force rebroking on live cases and leave borrowers confused. She also points to bottlenecks with conveyancers. Slow responses to solicitor queries near exchange or completion can stall files, and remortgage panels are overwhelmed by cases that later get rebroked elsewhere.
That congestion risks last-minute scrambles for redemption statements and pushes some clients onto standard variable rate. Her suggestion to solve this issue is that lenders should speed up approvals to solicitors and fund panels properly so firms can take fewer files and handle them well.
“Solicitors need to be paid more from lenders and to allow them to take on less caseload instead of a race to the bottom for lowest fees,” adds Bradley.
From Mair’s perspective, the recurring frustration is inconsistent information requests. Some lenders issue a full checklist at submission, while others ask for documents in drips and drabs as a case moves through underwriting.
That slows files and makes brokers look uncertain in front of clients. His fix is early collaboration and complete packs up front. He also flags delays with valuations and conveyancing as common holdups near the finish line. The job, as he sees it, is to manage expectations on all sides and work on problems early with lenders so cases keep moving.
“The most important thing is lenders want to lend, but they want to lend diligently and also responsibly,” Mair says.
Brokers weighed in about their frustrations and wish list priorities.
Slow underwriting remains the top frustration. Brokers repeatedly asked for faster turnarounds, streamlined documentation, and predictable timelines.
“Turnaround times from app to offer”
“Delays to review an application, although most lenders have improved this area”
“Long waiting while in underwriting; if a case is straightforward, it should be really quick”
“I would like them to get remortgages done within two days”
“Produce mortgage offers quicker, do desktop valuations and online assessment of income for employed and self-employed”
The single biggest complaint is poor access to decision-makers. Brokers want direct, two-way contact instead of portal messages and slow email trails.
“Ability to communicate. No one wants to talk to you”
“No direct contact with an underwriter”
“Answering the phone”
“Delays to underwriting and not being able to discuss a case directly with underwriters”
“Give more access to the broker and listen to their views, too”
Rigid policy decisions and inconsistent documentation requests wear brokers down. They want decisions that reflect real-world circumstances, not blanket criteria.
“More underwriter involvement and understanding of cases as opposed to online black-and-white criteria”
“Taking a more individual approach to underwriting”
“Transparency with decisions, not just saying ‘not one for us’”
“Flexibility with affordability”
“Slower than usual, careless underwriting and requests for additional information that should not be required”
Price volatility remains a pain point. Frequent rate changes, often with little notice, make it harder for brokers to protect offers and manage client expectations.
“Rate pulls at short notice”
“Reduce rates”
“Interest rates and range of products”
“Lower rates for first-time buyers and adverse clients, as they’re struggling anyway”
“Better rates; more flexibility/understanding on pass credit issues”
While lenders are investing in digital tools, brokers say too many still rely on slow, outdated platforms that cause frustration.
“Some systems are ridiculously slow and hard to use”
“Poorly communicated case tracking, so you don’t know what they are asking for document-wise”
“More and better lender systems and automation”
“Keeping up with AI technology, updating apps for customers, quicker applications and easy responses”
“Open banking and online checks for speed”
For Mair, lenders’ adoption of AI tools and modern systems is closely tied to an improvement in speed. “I appreciate that the lenders need a lot of information; some need more than others, which is totally fine,” he says. “But what we want is systems that are so robust that they capture a large bulk of the information on day one, rather than feeling like we're doing another application during the underwriting process, because that just stalls.”
At MB Associates, Bradley says the team prides itself on maintaining personal interaction with clients while acknowledging that AI plays a valuable role in streamlining operations and improving efficiency.
“It should be able to remove a lot of the hard, manual work in processing applications,” she adds.
Service defines success: brokers back lenders that deliver fast, reliable completions. Execution, access and consistency still separate the best from the rest.
Consumer Duty reshapes behaviour: the FCA’s Duty is now daily practice, pushing lenders and brokers to prove fairness, value and sound decisions throughout each case.
Technology is closing the gap: AI, automation and open banking speed affordability checks, document handling and underwriting. The standouts combine smart systems with experienced people.
Relationships still rule: direct-to-borrower contact risks weakening trust. The strongest lenders keep brokers at the centre and stay connected from application to completion.
Market resilience depends on balance: with 95% of brokers placing business across five or more lenders, loyalty depends on mutual investment, responsive service and transparent, data-led operations.
To uncover the best lenders in the eyes of the UK’s broker community, Mortgage Introducer reached out to brokers across the country, asking them to rate the lenders they have worked with in the past 12 months.
MI asked brokers to weigh in on important aspects of the broker-lender relationship, such as interest rates, turnaround times, customer service, technology, loan programs and commission structure. Lenders that earned an average score of 4 or higher were recognised in the third annual Brokers on Lenders.