Research conducted on behalf of the specialist lender amongst more than 500 brokers found that just over 41% value clear and concise criteria as the most important characteristic in identifying a preferred lender. The second most important, mentioned by 24% of respondents, was direct access to decision makers and responsiveness of a lender through its contact channels, while 22% said they made a decision based on sourcing systems. 

According to the research, a lender’s website and application platform are most important to just 6% of brokers, while only 4% said they chose a lender based on an existing relationship. 

When asked what steps lenders could take to support brokers in growing their business, nearly 32% said it was important to be kept up to date with product and criteria changes, while almost 28% said they would like marketing support to help them attract new customers. Just under 20% of brokers said they would like apps for underwriting and processing, while 10% wanted help retaining existing customers and 8% would like to see more digital integrations. 

Ryan Brailsford, Business Development Director at  Pepper Money, says: “This research supports our belief at Pepper Money that the publication of clear and concise criteria is vital to help brokers perform their jobs effectively. However, just publishing criteria is not enough. Lenders need to commit to underwriting cases in line with this published criteria, and not request additional documents or ask for information that is outside of their standard guidelines. This is a trend that brokers see all too often and it can be incredibly frustrating for brokers who then may need to explain to their customers why a case has been declined by their recommended lender. It’s something we take very seriously at Pepper Money and we always ensure our underwriter processes are aligned with our published criteria. 

 “As part of our support for brokers, we are also launching a dedicated campaign designed to help them improve the effectiveness of their marketing for new customers. This was identified as the most important thing a lender could do to help them grow their business by 28% of brokers. The campaign will provide practical help for brokers and could ultimately help more customers end up with the right mortgage for their circumstances by making them aware of the benefits of professional advice.” 

Ryan Brailsford Pepper Money


Ryan Brailsford
Director of Business
at Pepper Money