As digital mortgage platforms grow, brokers face rising pressure to prove that advice still adds enduring value
More UK borrowers are exploring mortgage options online. But for Mark Harrington, CEO at London & Country Mortgages, that shift shouldn’t signal the demise of mortgage advice, it should sharpen the industry’s resolve to better demonstrate its worth.
“More consumers are clearly researching their deals online,” he said. “But that doesn’t necessarily mean they’re prepared to make that final decision based purely on their own choice.”
While execution-only tools have their place in the digital age, Harrington argues that mortgage advice remains vital in navigating complexity, comparing real costs, and tailoring protection strategies to individual needs. The key is making that value visible.
Advice goes beyond the rate
The headline rate is often just one piece of a far more intricate puzzle. Harrington emphasises that advisers bring depth to a transaction that no platform can replicate.
“It’s not just about pinpointing the best rate,” he said. “There’s a whole host of other elements: fees, incentives, early repayment charges, and overpaying. Sometimes, offsetting is the right route, but it's rarely discussed nowadays.”
Customers often come armed with information from online sources. But understanding what truly fits their affordability and long-term goals takes experience and insight.
“We do a lot of explanation and unpicking,” said Harrington. “Some customers know what they’re doing. Others are pressing buttons online without fully understanding what they're committing to.”
One area brokers can better communicate, he said, is the value of term reduction, “If a customer can afford it, why not reduce the term and save money over the life of the mortgage? That’s a conversation that won’t happen in execution-only.”
Execution-only is rising - and so should advice clarity
The growth in execution-only is being driven, in part, by lenders themselves. Harrington notes recent shifts in the buy-to-let space and cautions that brokers can’t afford to assume their position is secure.
“It’s down to advisers to counteract that,” he said. “We shouldn't just try to match execution-only on ease. They’ll win that race. We have to show the value of advice over the lifetime of the customer relationship.”
Harrington believes brokers must also rethink their fee models and language around value.
“Why would a customer with a £300,001 mortgage pay a fee when one at £299,999 doesn’t?” he said. “It doesn’t make sense from their point of view. Fee structures must feel fair and transparent.”
Brokers must lead with service, not just selection
To stay competitive, brokers need to double down on holistic service and long-term support.
“The role of the adviser isn’t just arranging a mortgage,” Harrington said. “It’s making sure the customer gets the right mortgage, and then helping them manage it. We’ve changed rates three or four times for some customers as the market shifted – that would be tough to do alone.”
He also sees protection advice as critical: “The protection gap is getting worse. Without advisers having those conversations, more families will be left exposed.”
Internally, Harrington said brokers must shift their messaging, “It’s about advice and service, not just rates. It’s about reducing the term, overpaying, building a full picture. Execution-only can’t do that.”
Turning disruption into opportunity
Rather than seeing execution-only as a threat, Harrington urges brokers to view it as a call to evolve.
“If brokers' first reaction is to moan about it, they won’t evolve,” he said. “Execution-only is here. We need to use it as a reason to sharpen our value.”
He points to technology and AI as tools brokers can embrace to free up time and enhance communication. But he also calls for an industry-wide rethink about hybrid models.
“Can we offer execution-only with the ability to move into advice, or vice versa? Right now, there’s no exit. That needs to change.”
Ultimately, Harrington believes brokers have a clear path forward: invest in service, stay connected with clients over time, and demonstrate lifetime value with every interaction.
“The majority of mortgages are still intermediated,” he said. “But to pretend that couldn’t change would be dangerous. We have to keep banging the drum for advice – not just to preserve our role, but because without it, too many customers will miss out on the support they don’t even realise they need.”
