Clients want speed, clarity and digital ease - but still need guidance more than ever
The mortgage market may always be shifting, but over the last five years, the pace of change has been exceptional. For Jon Stones, Managing Director of Mortgage 1st, this transformation isn't just about rates or regulations; it's about a new generation of clients and a fundamental reshaping of how brokers do business.
"Client needs have become more varied," he said. "We're seeing more people with irregular incomes, self-employed workers, and clients with more complex financial situations overall. That makes tailored advice not just important, but essential."
More informed, more demanding clients
While affordability remains the core challenge, Stones sees expectations rising too. "People are more financially literate now," he said. "They've got information at their fingertips - Google, TikTok, ChatGPT. They come in better informed, but they also expect transparency and a faster experience."
This creates a dual pressure: clients still need expert advice, but they want it delivered at speed. "It’s not just about finding the best rate," he said. "It’s about doing it quickly and clearly, in a way they understand."
Specialist isn’t niche anymore
Asked whether specialist lending has become the new mainstream, Stones said not quite, but close. "It's forming a massive part of what we do. The days of only placing cases with high street lenders are long gone. The spread of lenders we're using is broader than ever."
He adds that no single broker can master every part of the market. "Some advisers are great with first-time buyers, others are more suited to complex portfolios or irregular income. It’s about recognising where your strengths lie and collaborating when needed."
As income patterns and property profiles become more diverse, Stones sees brokers dealing with non-standard cases more frequently. "Even outside of adverse credit, it’s the structure of the income, the type of property, or how the client is buying. It all adds layers."
Balancing speed with quality
To deliver faster service without compromising compliance, Stones believes technology is the answer, but not in isolation. "We're not trying to replace people," he said. "We’re using technology to streamline processes so advisers can do more without cutting corners."
Stones points to technology as a critical enabler, but one that works best behind the scenes. "It's about using tech to take the admin strain out of the process," he said. "Things like document collection or legal steps can be automated to give both clients and advisers a better experience."
Still, he stresses the importance of visible progress. "You can be making headway, but if clients don’t hear from you, they assume nothing's happening. Clear updates are just as important as speed."
Adapting or falling behind
The firms that will thrive, Stones believes, are those that evolve with the market. "We see behind the curtain with a lot of brokerages, and some are still stuck in old ways. They’re not embracing technology or specialist markets. That mindset will hold them back."
Adapting early to trends like remote advice and digital marketing gave the firm a head start as the market evolved. "We’ve always tried to be ahead of the curve," he said. "That mindset matters."
He sees a generational shift accelerating the change. "We have advisers now whose date of birth starts with a 2. They expect better systems, and they bring that energy to the business."
Face-to-face still matters, but flexibility matters more
While face-to-face advice is still part of the mix, it’s no longer the norm. "Even people who live two minutes from the office would rather do it on Teams," said Stones. "Younger clients don’t want a phone call, let alone a meeting."
He’s confident, though, that advice remains essential. "The need for a human adviser isn't going anywhere. What we're changing is the process around that - making it faster, easier, more efficient. That’s what today’s clients expect."
In a world of rising complexity and rising expectations, brokers must move faster - but not shallower. "If you’re not adapting," Stones said, "you’re already behind."
