To gain deeper insights into vulnerability within the UK mortgage market, we joined forces with 27 leading lenders, mortgage clubs, industry bodies, and research provider Smart Money People to conduct a comprehensive industry survey. This collaborative initiative aims to gather insights that will lead to improved identification and support for vulnerable customers during their mortgage journey.
By recognising and addressing the needs of these customers, the industry can foster a more inclusive and supportive mortgage market for everyone.
What’s in the report?
- Key survey findings and research summary
- Analysis of how brokers and lenders can better identify, disclose, and support vulnerability
- Insights and commentary from mortgage professionals and industry leaders
Key findings include:
- 89.1% of brokers have encountered a vulnerable client in the past year, yet 40.7% reported that they do not share any vulnerability information with lenders.
- Nearly half of the respondents (47.0%) expressed a need for deeper understanding around the drivers and the importance of identifying vulnerable customers.
- Brokers advocate for the inclusion of vulnerability disclosures in application forms and systems. They also emphasise the need for standardised methods and clear guidelines throughout the industry.
Download the full report to see detailed results, read reflections from key industry figures, and explore opportunities to improve support for vulnerable clients.