76% of brokers say they work with clients they believe should be able to get a mortgage, but whom they cannot currently place with any lender.
This is according to new research from broker research platform, Mortgage Broker Tools, which also found that 89% of brokers say they have to work harder to secure the loan size their clients want than they did this time last year.
Tanya Toumadj, CEO at Mortgage Broker Tools, said: “Affordability has long been a key issue in the mortgage market as house price increases have accelerated beyond wage inflation. The cost-of-living crisis and recent rate rises have made the situation even harder for homebuyers and many are missing out on getting a mortgage because they are unable to demonstrate the affordability they need.
“The good news is that the UK mortgage market continues to be a diverse and competitive environment, with many different lenders tackling affordability calculations in different ways.
“This means there may be an affordable option for a customer to secure the loan size they need and research software like MBT is available to help brokers research a wider group of lenders to identify the best solution.”
