Mortgage Broker Broadcast
Developing your knowledge to help you build a successful Mortgage Broker business. Craig Skelton shares his thoughts and experiences on all aspects of mortgage advice covering everything from operating in the banking world, estate agency based advisers all the way up to working as a self employed broker. He will be joined by experts from within the industry and other business sectors which all play a key part in becoming a successful mortgage broker in the modern world.
Mortgage Broker Broadcast
Beyond ChatGPT: How Mortgage Brokers Can Thrive in the AI Era
Ready to transform how you work as a mortgage broker? This episode bridges the gap between AI theory and everyday practice, showing you exactly how to implement artificial intelligence tools that will revolutionize your business.
The mortgage industry is changing rapidly, with major UK banks investing billions in AI technology. As brokers, we've reached the point where AI adoption isn't just advantageous—it's becoming necessary to remain competitive. But where should you start?
We break down three essential categories of AI tools every mortgage broker should consider: custom GPTs that can be trained on your specific business materials, transcription services like Otter that automatically document client meetings, and chatbots that handle routine inquiries while you focus on high-value activities. What's particularly exciting is the emergence of AI agents capable of executing multi-step processes from document collection to preliminary recommendations.
Throughout the episode, we emphasize that technology enhances rather than replaces human expertise. Clients will always value the trust, empathy, and personalized guidance that only an experienced broker can provide. The most successful professionals will be those who leverage AI for efficiency while doubling down on relationship-building and strategic advice.
Looking ahead to 2026, we explore how AI might reshape the mortgage landscape through blockchain integration, regulatory adaptation, and predictive analytics that transform customer service from reactive to proactive. As we enter what could be a significant remortgaging period, the brokers who thrive will be those who position themselves as both tech-savvy and deeply human.
Ready to start your AI journey? Check out the Broker Foundry community or subscribe to our YouTube channel for monthly insights. If you found this episode valuable, please share it with colleagues and leave a review to help other brokers discover these essential strategies for the future.
Looking for one to one mentoring, visit my website to see how it works craigskelton.co.uk
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Hi and welcome to this week's the Mortgage Broker broadcast. I'm your host, craig Skelton, and if you've been following the show, been listening to the show for a while, you'll know that we've spent quite a lot of time this year exploring how artificial intelligence can transform a mortgage broker's business, and today's episode is all about taking those ideas and making them part of your everyday work. So just to recap on the AI series before, for those who missed it or need a refresher, earlier this year I ran a multi-episode series on AI for mortgage brokers. We talked about why AI is a mindset shift, talking about essential chat, gpt prompts, integrating AI into workflows, core tools to use, importance of keeping the human touch, because AI won't replace brokers. So yeah, if you haven't caught up with those episodes yet, scroll back through your podcast app, wherever you listen, to watch it and, after you've listened to this one, give them a listen. They laid the foundation for what we're about to discuss. So, ai adoption and why now? Well, ai is not a buzzword anymore. It's absolutely here. It's here. It's reshaping the industry. It's reshaping how we operate in the UK major banks, hsbc, lloyds Banking Group and industry. Investment is expected to be billions in this year, so it's a massive thing and, as a broker, adopting AI isn't just advantageous anymore. It's become absolutely necessary, especially if you want to stay ahead in this competitive industry, in the competitive world that we're in.
Speaker 0:The tools on offer go far beyond chat GPT, and there are real three categories of AI tools that advisors should be looking at. The first one is custom GPTs. You can upload documents in there, your own material into there, processes into there and your marketing content to a custom trained GPT. This turns a generic language model into your own on-demand system. You should then also be using transcriptions and summarizations tools like Otter or Firefly. Otter I use in all my meetings now and it is. It's amazing. It just it produces written transcripts, highlights, even action points coming out of the meeting. It's it's integrated into my team, so I don't even have to, I just admit it in the room and it automatically records now. So, yeah, it's been a real game changer for me in terms of otter, and obviously there are other ones out there, but you certainly should be transcript, transcribing and summarizing your ratings and in meetings that you're having. And then also you should be looking at chatbots and documentation, that document analysis as well, which is platforms that let you create customer service chatbots that answer your FAQs 24-7 on your website, and document analysis tools that can read bank statements. It's a bit of controversial that one, but there are things out there that will read bank statements and match income to documents. So they're the three things you should be looking at right now.
Speaker 0:But what's coming next? What else is happening? Well, ai agents are here now. Absolutely, these are systems that just don't just respond to your prompts, like ChatGPT does this can sort of execute multi-step tasks for end-to-end so like pulling client data together, analyzing risk, even generating recommendations, and this is here and happening right now. And probably a good point at this part of the podcast to sort of say that I still believe the same.
Speaker 0:Ai won't replace mortgage brokers. It's important to remember that AI is a tool. It's not a replacement for human expertise. Clients come to you for your knowledge, your empathy, your adaptability, your ability to navigate complex situations, and AI can handle repetitive tasks and speed up processes, but it can't replace the trust that you build with a client over a cup of coffee or the advice you give based on years of experience. While AI provides incredible efficiencies, absolutely it doesn't replace human expertise. Brokers who embrace AI and focus on relationships will thrive. So how do you adopt AI into your brokerage?
Speaker 0:Like I said, this is not just about using chat GPT to reword your emails and things like that. I'm not talking about that. Let's look at practical steps that you can take right now. So the first thing I would do is audit your processes. Identify repetitive or time-consuming tasks, tasks that you hate doing. There will be loads of those other repetitive ones as well. Common candidates for these are note-taking or follow-up emails, document gathering, social media content on there as well. Anything that you do more than twice a week is a good place to start for automating and then start with one tool.
Speaker 0:Don't try implementing everything all at once. Just pick a simple tool like Otter for meeting transcriptions or ChatGP for drafting LinkedIn posts, but just use one. Use it until it consistently becomes part of your workflow, becomes part of your habit and it becomes necessary in terms of what your business. So yeah, I would say go with otter absolutely will make it so much easier. And what also you can do is create a custom gpt.
Speaker 0:Now might sound a bit more technical with this, but if you've already got a chat gpt plus account, experiment with building a custom model. Upload your FAQs, tone of voice, guidelines as well, or a collection of your own articles, videos, blogs, whatever you want to do. The model will then produce outputs that sound like you, saving you hours on marketing and even client communication just basic client communication. But always remember, always check the content. Whatever AI has created for you and you've used it to help create content, double-check everything, double-check the outputs for accuracy and ensure that client data is held securely as well.
Speaker 0:Remember, ai is a tool to enhance your expertise, not a replacement for your own due diligence and then track the impact. Measure how much time you're saving, the quality of your content and the response you get from your clients, share those wins and then track the impact. One thing that seems to happen is people are using AI AI, but they're not tracking the impact that it has. So you need to be measuring how much time you're saving, the quality of your content and the responses you're getting from clients. You need to know what wins you're getting and share those wins if you want. In real community, other brokers will want to know what's working for you and if we get that community going with AI, everyone will benefit in terms of what's working what's working for you and if we get that community going with AI, everyone will benefit in terms of what's working, what's not working. So, yeah, make sure that you're reflecting, making sure that you're understanding what impact AI is having on your business.
Speaker 0:So, looking ahead, what might 2026 look like in terms of the world of AI? Well, if 2025 was the year of adoption, then 2026 could be the year that AI becomes deeply integrated into the mortgage processes, so AI agents could be performing entire workflows, from collecting documents to underwriting and producing a bit of a guide in terms of recommendation. Ai agents could handle multi-step processes autonomously, freeing you up to focus on strategy and relationships. There can also be integration with blockchain and digital ID, too, so secure data sharing platforms may use blockchain to verify clients' IDs and the documents, too, making transactions faster and more transparent. And who doesn't want that? And what about the regulatory adaptation? Well, as AI gets smarter, regulators will continue to refine rules around data privacy, fairness and AI-driven decisions. Staying compliant will mean staying informed and ready to adapt your processes. The other thing which I'm excited about for 2026 is I think it will give greater personalization. Ai's predictive analytics will help brokers anticipate clients' needs and proactively deliver advice, turning customer service into proactive, not a reactive, experience, which is just going to massively benefit the clients and massively benefit this industry, especially that 2026 is going to be the year of remortgaging too. But even as AI becomes more sophisticated, the core principles remains clients value the human connection. Use the next year to master the tools, build processes that leverage AI strengths and position yourself as both tech savvy but also deeply human. So that's it.
Speaker 0:That's this week's podcast on AI, and quick reminder about the Broker Foundry and Pathways Before we wrap up. If you're looking for community and support as you implement these ideas, check out the Broker Foundry, subscribe to the YouTube channel for monthly videos, and if you're thinking about taking a leap into self-employment, self-employed Broker Pathways can help you choose the right route that's right for you. So go to my website, craigskeletoncouk. More information on there, and that's it. That's this week's episode on AI adoption, and if you found today's episode helpful, useful, please share it, please leave a review, please subscribe, as always. So just make sure you don't miss out on future episodes. Have a great week and remember.