Customer service is top priority when choosing mortgage provider

Customer service is a definitive priority for prospective borrowers when choosing a mortgage lender. 

This is according to a study of over 1,000 borrowers carried out by Computershare.

Participants were asked what they considered to be the most important factor when choosing a mortgage provider (other than low interest rates, costs and the terms and conditions on offer).

Some 42% of respondents said it was being able to speak to someone when needed, while 21% said it was the presence of online account management.

A ‘high level of support if in financial difficulty' was most important for 8% of those taking part, while 6% prioritised a lender with a reputation for financial success and 1% said they would be most likely to choose a provider with a reputation for technological success.

“As the mortgage market changes, with both new lenders and developing technology coming on board, it’s important to remember that customer service remains a definitive priority for borrowers when they select a provider," comments Andrew Jones, chief executive of Computershare Loan Services.

“The best lenders will be able to tailor the way they interact with their customers in a way that suits them best, and make sure borrowers are not excluded because of the way they are willing or able to communicate."