Property market volatility increasing brokers’ workloads

Recent volatility in the property market has put a strain on brokers’ and their workloads, according to Michael Holden, divisional director of growth at Landmark Information Group.

Holden’s comments follow the launch of Landmark’s Q1 Residential Property Trends report which demonstrated the extent of fluidity of the property market, specifically in reference to mortgage rates.

Holden explained that, with rates changing often, it means mortgage advisers are having to do extra work for every sale.

“If rates come back down during the homebuying period, which the likelihood is that they will, the customer is going to be going back to the broker and asking if they can get a better rate,” Holden explained.

He added the broker in question then has to rework the buyer’s case to get the offer at the new rate, and that could be happening any number of times for a new property purchase.

“Brokers are having to do more work for every transaction because of the greater volatility,” he said.

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