Trust isn't built in boardrooms but in conversations, insists broker
The mortgage market has long debated the role of adviser fees, with many firms standardising charges to sustain operations. In Derbyshire, Stagg Mortgages has chosen a different path. Founded in early 2024, the brokerage operates on a fee-free basis, reflecting founder Katherine Stagg’s belief that advice should be accessible to all clients, not just those able to pay upfront.
Stagg, who previously worked in corporate and estate agency settings, says the decision stemmed from concerns about fairness. “You can’t ask a first-time buyer to pay £600 before they’ve even started the journey. It’s just not fair.”
The firm also extends fee-free advice to holders of Blue Light cards, including NHS staff, police and firefighters. While the absence of fees places pressure on the business model, Stagg argues that client referrals create momentum. “Once you’ve built one strong relationship, it leads to another. Recently I arranged mortgages for four police officers, all from one client referral.”
Technology has been key in containing costs. The team uses app-based platforms to streamline administration, allowing advisers to focus on client interaction.
Balancing sustainability with accessibility
Running a fee-free service is not without challenges. “It is a balancing act because you do need money to live,” Stagg said. “But I set up the business to help people and to give my team stability. That’s our shared goal.”
The culture is built around efficiency paired with empathy. The principle, Stagg added, is that every minute saved in administration should translate into more time spent with clients.
For the firm, trust is not an abstract concept but something reinforced daily. “It isn’t built in boardrooms. It’s built in every conversation, every follow-up, every thank you.”
She points to a recent case where a solicitor issue threatened to derail progress. “We stepped in straight away. Both solicitors came back quickly and it was sorted. It’s about showing up consistently.”
The brokerage also reinforces relationships through gestures such as birthday cards, local charity involvement and flexibility for clients who work outside standard hours. Errors, when they occur, are addressed directly. “If we make a mistake, we explain it and put it right.”
Local identity in a national market
With larger firms continuing to grow their reach, regional brokerages often look to local presence as their differentiator. For Stagg, that means sponsorship of community events and a focus on personal detail. Advisers keep notes on family members and even pets to ensure continuity in conversations. “It sounds small, but it matters,” she said.
Technology and automation are part of the model, but Stagg remains cautious about their limits. “Automation can help, but advice is still about people. Clients don’t just buy services; they buy values.”
The firm is expanding its work in business protection and, alongside this, is setting out formal values to guide operations. “We’re putting our values on the wall and on our website. Clients should know exactly what we stand for.”
The emphasis remains on steady, trust-based growth rather than scale for its own sake, according to Stagg. The approach underlines a wider point in the current market: that accessibility and consistency may be as important to long-term sustainability as revenue diversification or headline expansion.
