EXPO 2010: 53% of consumers intend to go direct for their mortgage

Over half of 2,000 consumers poled by intermediary specialist lender Platform answered that they would go direct for their mortgage.

Lee Gladwell, director of sales and proposition at Platform, revealed the findings today at the Mortgage Business Expo in London.

Just 14% of respondents said that they would use a broker with a further 33% undecided.

Gladwell told the audience that the most common reason for consumers’ reticence to use a broker, at 62%, was having to pay a fee.

The reasons consumers gave for going direct was that they saw it as easier, convenient and quicker.

Platform helped kick off Mortgage Strategy’s Define Advice campaign earlier in the year to try and increase awareness among consumers and borrowers about the benefits of using a broker.