67% of Appointed Representatives (ARs) would use a different sourcing system if their network allowed them to, according to a new report from BestAdvice Intelligence.
Despite this, the Technology for Mortgage Intermediaries report found that only 13% of advisers say they have actually switched network because of the system they were compelled to use.
The 80-page report, available to mortgage brokers for free download, looks at all forms of technology platform available for intermediary use, including in the areas of sourcing, criteria, affordability, conveyancing, marketing/retention and customer relationship management (CRM).
This second edition of the report contains comparative data from 12 months ago and provides insights into the systems on offer and how they differ.
Kevin Rose, editor of BestAdvice and author of the report, said: “The Covid-19 pandemic has put technology into sharp focus, with the transition to remote working highlighting the importance of software platforms and applications.
“Appetite for alternative technology platform options appears high amongst Appointed Representatives, although other factors appear to be holding them back from switching network.
“Meanwhile, relatively new systems such as affordability and criteria platforms continue to gain traction amongst mortgage advisers, with existing sourcing systems moving to offer such functionality.
“BestAdvice offers these detailed reports free of charge to mortgage intermediaries as we believe they should not just be available to those willing to spend large amounts of money. The reports are always very well received and, if anything, we expect interest in this report to be even greater due to the unprecedented recent shift to working from home.”
To download the report for free, please fill in the registration form here.