Intermediary Advice: The more complex the market, the more valuable the broker

In a recovering mortgage market, it can be tempting to focus only on rates, products and volumes. But the real story of 2026 is advice.

Clients are not simply asking, “What is the cheapest rate?” They are asking whether they should move, remortgage, restructure debt, retain property, invest, release capital, support family members, buy through a limited company, refinance a portfolio or use short-term finance to solve a timing issue.

Those are not product questions. They are triggers to understand what the customer needs.

The wider market data shows why this matters. FCA and Bank of England figures for Q1 2026 showed gross mortgage advances fell to £69.6bn, down 12.3% on the previous quarter and 10.2% lower than a year earlier. Yet new mortgage commitments rose to £78bn, up 11.5% on the previous quarter and 14.2% higher year-on-year. This points to a market that is active, but not straightforward. Clients are engaging, but timing, affordability and confidence remain delicate.

Forecasts also suggest recovery rather than boom. UK Finance has forecast gross mortgage lending of £300bn in 2026, while IMLA has projected £320bn in 2026 and £350bn in 2027. That is encouraging, but it does not remove complexity. If anything, as activity improves, the need for quality advice increases.

Borrowers are facing a different landscape from the one many became used to before 2022. Affordability is tighter, household budgets are under pressure, property decisions are more emotional and lender criteria remain highly varied. Many clients will not fit neatly into automated or mainstream lending routes.

That is where intermediaries prove their worth.

A good broker does far more than source a rate. They interpret the client’s circumstances, identify risk, explain options, challenge assumptions and guide the borrower through the consequences of each decision. They understand when a mainstream lender is right, when a specialist lender is needed and when the client should pause rather than proceed.

This is particularly important in specialist finance. Bridging, commercial, complex buy-to-let, adverse credit, self-employed income, later life borrowing and portfolio lending all require careful thought. The right answer is not always the quickest answer. Nor is it always the lender with the lowest headline price.

Intermediary advice also protects clients from making decisions in isolation. A client may think they need a remortgage, when a second charge, product transfer, bridging loan, further advance or commercial refinance could be more suitable. A landlord may focus on rate, when structure, tax position, rental yield and future strategy matter more. A business owner may need capital quickly, but still require a credible repayment route.

The broker’s role is to create clarity.

There is also an important industry point here. The mortgage market is increasingly shaped by technology, automation and direct-to-consumer journeys. These can improve efficiency, but they cannot replace human judgement in complex circumstances. Technology can help process information. Advice helps interpret it.

For lenders and distributors, this means broker education remains essential. Product innovation only works if intermediaries understand when and how to use it. Criteria changes only matter if brokers can translate them into better client outcomes. Specialist lending only grows sustainably if advice standards remain high.

June is a good moment for the industry to remind itself of this. The market is improving, but it remains uneven. Clients are more informed in some ways, but more uncertain in others. Choice has increased, but so has the risk of confusion.

That makes the intermediary more important, not less.

The strongest brokers in 2026 will be those who combine technical knowledge with empathy, commercial awareness and curiosity. They will not just ask what the client wants to borrow. They will ask why, what could go wrong, what the exit looks like and whether the solution still makes sense beyond completion.

In a simple market, products can lead. In a complex market, advice must lead.

Jason Berry

Group Sales Director