Rate-savvy clients are forcing a shift from static product recommendations to flexible, proactive strategies
For Lucy Palmer (pictured), a mortgage advisor based in London and Essex, today’s conversations rarely start with “what’s the lowest rate?”
“Our clients expect rates to come down,” she said. “At [a recent] conference, everyone was in agreement - the expectation is for them to decrease. People are very savvy, so they’re looking at shorter-term fixed rates and the option to benefit from those reductions.”
Her client base - higher-net-worth borrowers often in finance - approaches mortgage decisions with signal awareness. “They don’t want to lock in for five years and miss the chance to move,” Palmer said.
Gone are the days of five-year fixed deals. “Five‑year fixed used to be our bread and butter, but now clients want two‑year fixes or tracker rates for that flexibility,” she said.
“In terms of overpayments, most clients find the standard 10% allowance enough. But tracker rates with overpayment facilities are popular among higher earners expecting rate drops.”
Portability over complexity
Offset mortgages remain rare, even among financially savvy clients. “Offset accounts are rarely requested,” Palmer admitted. “Even for people in finance, they’re not well understood and can be quite scary.”
Instead, portability is front and centre. “Portability has always been a huge issue for us,” she said. “Clients want the ability to take their mortgage with them when they move from a flat to a house.”
With rising costs and repayment shock, clients expect real-time advice. “We now check and update rates every couple of weeks leading up to a mortgage transfer or remortgage date,” Palmer said. “Clients don’t want to ask - they expect us to tell them when something better comes along.”
She attributes this to evolving client expectations. “If we’re not proactive, there are brokers everywhere who will be.”
Professionalism beats availability
When asked what new advisors should prioritise, she steered away from 24/7 availability and tech gimmicks.
“Clients respect structure. They appreciate clear working hours and boundaries,” Palmer said. “They don’t want a WhatsApp call at 10 p.m. Quick responses, diligent service, and showing you’re finding the best deal - those matter.”
In today’s fluid market, borrowers are looking for strategic, trusted advice - with flexibility, clarity, and professional structure as its foundation.
