Mortgage Brain has revealed that 84.5% of attendees of its recent Virtual Mortgage Vision Masterclasses visit the affordability calculators of between one and six lenders on each case.
In addition, 58% says they rarely use an affordability calculator from a non-top 10 lender.
The study identified other occasions when brokers spend large amounts of time on manual tasks, with more 81.5% of brokers spending more than 15 minutes keying in the details for a Decision in Principle (DIP) or full mortgage application.
Neil Wyatt, sales and marketing director at Mortgage Brain, said: “The feedback from our Mortgage Vision Masterclass events has been fantastic; there is no question that the many brokers who attended benefitted from thought-provoking sessions and are now better equiped for dealing with today’s mortgage market.
“However, our survey shows that many brokers are still spending significant amounts of time on manual jobs like repeatedly keying in client data on lender websites.
“At Mortgage Brain we are committed to transforming the way technology can help mortgage brokers become more efficient, making it far easier and quicker to source the products their clients need and cut out some of those time-intensive tasks.”