The number of applications that the PRIMIS Mortgage Network received between April–June was up 30% compared to the same period in 2019.
So far during the UK-wide lockdown, PRIMIS has appointed 134 new advisers and 28 new Appointed Representative (AR) firms.
Currently, there are 300 applicants hoping to join the network.
Broker engagement has also increased during lockdown. Compared to before the coronavirus outbreak, the average number of advisers who have attended PRIMIS’ virtual training sessions has increased by 40% since April; the sessions have attracted 6,852 attendees over 155 sessions in total since the network began delivering workshops virtually.
Toni Smith (pictured), chief operating officer at PRIMIS, said: “The coronavirus crisis has been tough on households and businesses up and down the country. During this time of uncertainty, PRIMIS’ key focus is to support its broker firms and ensure they are in pole position to help their customers with their financial needs.
“Keeping brokers updated and informed on the multiple changes in the market and their proposition is key and ensuring they continued to feel supported and safe is also of paramount importance.
“It has also been hugely encouraging to see even more of our advisers engaging with training and development sessions now that these have moved online. This will be something we look to continue with post-crisis, to make sure that all of our AR firms can access the relevant support wherever they are in the UK, effectively and efficiently.”
In addition, a total of 37,464 visits have been recorded for PRIMIS’ broker support page ‘Lemonade’ since its launch in April. Lemonade was set up to provide the network’s advisers with the relevant support and guidance to help them in their conversations with clients during the coronavirus pandemic, featuring blogs, access to webinars and opportunities to share best practice with other members of PRIMIS. The page is available to brokers 24/7 and updated daily to ensure it includes the most up-to-date information.
In addition, the network’s product desk – which assists brokers nationwide with a variety of queries regarding mortgages, protection, general insurance (GI), and digital systems – has received 7,643 queries from brokers between April – June. This marks a 42% increase on the average number of queries the desk typically receives from advisers in any given three-month period during ‘normal’ market conditions (5,400).
Smith added: “Sharing best practice has always been at the heart of the network and something we encourage across PRIMIS within every area of market specialism, geographical region and at every meeting. The interest in ‘Lemonade’ has been great to see and we hope that after using the resources available on the site advisers have felt more informed, motivated and inspired.
“Our product desk has also continued to deliver a phenomenal job in supporting brokers with a whole variety of queries during the pandemic; we know firms will continue to make the most of the team’s expertise long after the crisis, to help them secure positive outcomes for customers.”