Pepper money

It’s time to think about how you market your business

Mortgage approvals fell to 35,600 in December, the lowest number since May 2020, according to data from the Bank of England, and the outlook for the coming months offers little in the way of reassurance for the future.

Broker Marketing

UK Finance predicts that gross mortgage lending will fall by 15% this year, from £322bn in 2022 to just £275bn in 2023. The trade association predicts that lending will fall further still to £253bn, in 2024.

On top of this shrinking market, it seems that fewer customers are turning to the advice of a broker. According to the latest Specialist Lending Study from Pepper Money, just 24% of customers with adverse credit said they would seek the advice of a broker and this number is down from 44% in 2021 and 66% in 2020.

For brokers, this means that over the coming months and years, you are likely to find it harder to maintain your business levels. So, what can you do to combat this? 

A broker survey by FSE last year found that the biggest challenge cited by brokers was sales and marketing. This may not be a big issue when lending volumes are high and the market is growing, but when the squeeze is on, addressing this challenge could be the key to maintaining and even growing your business levels. 

In a stagnant or declining mortgage market it is important that brokers can distinguish themselves from their competiiton.

Making Broker Marketing Easier

At Pepper we are commercially empathetic to the challenges that some of our broker partners may face in a stagnant or declining mortgage market.

We understand speaking to decision makers can be challenging and time comsuming…

That’s why by simply completing the form below we will provide contact information to a Key Account Manager at a national & regional publisher, who would be more than happy to discuss marketing opportunities to increase customer enquiries.

We are providing you direct access to one of the UK’s largest publishers

You’re only a couple of clicks from accessing 39 million users online every month across national & regional press titles. Fill out the form below for contact details. 

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