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
How The FCA’s New Rules Reshape Mortgage Advice And Broker Relationships
The ground just shifted for UK mortgages, and the ripple effects will hit every broker-client relationship. The FCA has removed the automatic “advice trigger,” allowing consumers to receive personalised information and still choose execution-only—if they actively opt out of suitability protections. That sounds like frictionless choice, but it also raises the stakes on clarity, risk, and long-term fit. We dig into what this means for brokers and borrowers, and why the smartest response is not panic—it’s a sharper value proposition.
We unpack the core risks: borrower confusion between information and advice, the temptation to chase “cheap” over suitable, and the reality that life events—job loss, a new child, rate shocks—turn neat products into complex decisions. We explore the new responsibilities on lenders to identify vulnerability and prevent foreseeable harm, and how advisors can position themselves as the human guardrail: context, stress testing, and ongoing support that a website or call centre can’t replicate. You’ll hear practical tactics to protect clients under Consumer Duty while proving why advice is worth paying for.
From retention strategies to tech-enabled service, we share a playbook you can put to work now: year-round touchpoints with market updates, proactive mortgage reviews, clear education on information versus advice, and digital journeys that match speed without sacrificing suitability. We talk CRM, automation, secure document portals, milestone messaging, and early outreach to clients likely to opt for execution-only or showing signs of financial stress. The theme is simple: compete on expertise, empathy, and outcomes—not just on price.
If you’re ready to future-proof your pipeline and grow a resilient, client-first business, this conversation is your map. Subscribe, share with a fellow broker, and leave a review to tell us how you’re adapting your retention and advice strategy.
I help employed mortgage brokers go self-employed with clarity, confidence and one-to-one mentoring. Find out how Pathways or Coaching works at 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 today we're discussing the change that could reshape how consumers and your customers get their mortgages. I'm talking about the removal of the advice trigger for execution only sales. I want to get into what the FCA's recent policy statement means for brokers and why, in a world where clients can more easily bypass advice, building and retaining strong relationships is more important than ever. So what has changed? Well, up until now, we have you had an interactive dialogue with a potential client, potential borrower, meaning any back and forth conversation, regulation require you to give advice. If that customer went ahead and took out a mortgage with you, then in July of this year, so July 2025, the FCA published a policy statement which removed that automatic requirement. Now, simply talking to a customer doesn't compel you to provide advice. Customers can receive personalized information and still proceed on an execution monthly basis, provided they make a positive decision, and that they must confirm that they understand they're giving up the protection of suitability rules and choose to go ahead without advice. The policy also obliges firms to put procedures in place to identify execution-only customers who might need advice or support and to still consider affordability in line with responsible lending and the consumer duty. So, why are some people worried? Well, the change has sparked quite a lot of debate. Almost all mortgage sales since 2015 have been on an advice basis, and there's a reason for that, and a good reason for that because buying a home, buying a house, as we know, is complex and very, very stressful. And most consumers lack the financial resilience or experience to pick the right product unaided. People argue that making execution only easier could lead borrowers to think that they're receiving advice when they're not. And many people believe that they don't need advice until something goes wrong. So without guidance, they could choose a product that maybe looks cheap but becomes unaffordable later or doesn't fit their long-term goals. So in short, the removal of the advice trigger lowers the barrier to execution only but doesn't lessen the risk. So what does that mean for brokers? Well, on the surface of it, allowing execution only after a conversation might look like a threat. If customers can call the lender, get personalized information, and then choose a product without paying for advice, why would they come to a broker? In reality, the change underscores the value of what good advisors do. Advice isn't just about product selection, it's about understanding the client's situation, the circumstances, explaining the risk, stress testing decisions, and being there when life happens. It's about protecting the client too. If a client loses a job, has a child, or their circumstances change, a broker can help them navigate the options that they have. A website or a call center cannot do that. The removal of the advice trigger also provides new responsibilities for lenders. Firms must have processes to identify when a customer chooses and execution only may still need advice to avoid foreseeable harm. This effectively increases the duty of providers to flag up vulnerable customers and recommend support. So rather than letting clients slip through the cracks, advisors can position themselves as the proactive, client-centric alternative to the lender. So why does retention matter even more? Well, with this shift, competition for customers will intensify. Lenders might offer direct to consumer execution only deals and advertise low fees. So to ensure clients don't bypass you, you need to focus on retention and the long-term relationships. So how do you do that? Well, the first thing is stay in touch all year round. Don't wait until the client's fixed rate is due to expire. You need to be sending regular updates about market trends, base rate changes, and new props. Offer annual or bi-annual or semi-annual mortgage reviews, even if there is nothing due immediately. You need to be keeping your name at the top of the clients' minds, which that reduces the temptation for them then to go straight to the lender, direct to the lender. You need to be educating clients too about the difference between information and advice. Explain that while execution only may seem quicker or cheaper, it shifts the responsibility onto them. Highlight that advice ensures suitability and provides recourse if something does go wrong. Make it clear that lenders personalized information isn't the same as impartial advice. And you need to deliver value beyond the mortgage advice on protection, general insurance, world estate plannings, or even basic budgeting and client file improvement. When a client sees you as their trusted financial partner rather than a one-off transaction facilitator, they're less likely to leave. You also need to be using technology too, customer relationship management tools and automation as well to manage follow-ups and personalized communications. Implement digital fact finds, secure document portals to make the advice process as seamless as possible. If lenders promise speed, brokers can counter that with both speed and quality. You also need to cultivate emotional loyalty too. People stay with advisors that they like and trust. Be responsive, empathetic, and transparent. Celebrate those milestones, send in move-in cards and birthday emails, all that sort of thing. Sure that you remember details about their lives. Genuine relationships will outlast one-off deals. And then something else that you can do is identify clients at risk. Implement strategies, systems, processes to flag customers who express an interest in execution only or who may be financially vulnerable. Reach out proactively to discuss their options. Understand the consumer duty. You have an obligation to prevent foreseeable harm. Proactively guiding clients towards advice not only complies with the rules but also builds trust. And don't assume cheap wins. Resist the temptation to compete solely on price. While lower fees may attract some customers, many will still choose quality advice if they understand its benefits. Focus your messaging on expertise, bespoke solutions, and the peace of mind that comes with an advisor who's an advocate for them. So wrapped around all this, you need to be balancing choice and protection. The FCA's intention is to give borrowers more flexibility and reduce friction in the mortgage process. So for confident, financially savvy consumers, execution only may be appropriate, maybe an appropriate choice, but for the majority, the complexity of mortgage products and the long-term consequence of getting it wrong mean advice remains invaluable. The new rules require a positive election for execution only, which should help ensure consumers understand the trade-off. However, it remains vital for advisors to educate and guide clients. So just to close, the removal of the advice trigger is not a reason to panic, absolutely not. It's a catalyst to reinforce your value proposition and maintain client relationships. Rather than just complaining about the change, use it as an opportunity to showcase what personal advice can deliver, which is confidence, protection, and tailored solutions. Engage your existing clients, offer continuous support, and make sure they know that your job doesn't end once the mortgage completes. If you stay proactive and client focused, you're not only retaining your current customers, but you'll attract the new ones who recognize the importance of expert guidance in a market that's becoming more self-service. So that's it. That's this week's podcast. Just a quick reminder if you like support implementing these strategies or build a more resilient business, check out the Broker Foundry YouTube channel, which Jonathan Need and I have set up, where we share monthly insights and resources about being a self-employed broker. And if you are thinking about becoming a self-employed broker, check out the pathways on my website, craigskeleton.co.uk. I outline different routes on there if you're thinking about launching or scaling your own business. Thank you for joining me on this week's episode into the advice trigger and execution only. If you found this episode helpful, please share with another broker, leave a review, subscribe as always, so you never miss an update. Have a great week, and as always, please remember to run your own race.