- Mortgage brokers remain central to the homebuying journey, with two-fifths of first-time buyers admitting to Whatsapping their broker at least weekly and seeking support from their broker more than their friends
- For the second quarter running, two thirds (63%) of all homeowners say they couldn’t have gone through the homebuying or remortgaging process without a broker
- Santander today launches its quarterly ‘Broker Perception Barometer’ survey, as the lender reports 89% of all property purchases to date this year, took place through a broker, up 3% since 2024
Brokers remain the backbone of the homebuying journey in today's ever-changing economic backdrop, with two thirds (63%) of borrowers admitting they couldn’t have gone through the homebuying process without the support of a broker for the second quarter running, according to research released today by Santander.
The lender’s latest ‘Broker Perception Barometer’, a quarterly survey of 500 mortgage holders to measure consumer attitudes and sentiment toward brokers, shows that homeowners continue to rely on using a broker for their mortgage needs, with more than four fifths (83%) stating that they would use a broker again if purchasing a new property or changing mortgage provider.
A new generation with new expectations
Santander’s previous Broker Perception Barometer last December highlighted the power of human touch in a tech enabled world, something demonstrated again this quarter, with one in ten (11%) homeowners looking for empathy in their broker (rising to 14% for first-time buyers).
Today’s research also reveals differences in how younger borrowers engage with brokers, showing a clear preference for pace, with 75% of those aged 18 to 34 years old considering their broker as “responsive”, compared to 90% of those aged 35 years and above. This age group were also most likely to have found their broker using social media (13%) or an AI tool (8%) and most likely to communicate with their broker using Whatsapp (42%) at least once a week, in comparison to half (50%) of their older peers who claim they have never used it for the same purpose.
When asked who they turned to the most during the homebuying journey, first-time buyers admit to speaking to their mortgage broker (24%) more than their friends (22%) when seeking support with the process.
Providing clarity and reassurance
In today’s market, shaped by rising economic certainty, consumers perceive brokers as playing a critical role in supporting buyers progress confidently with the homebuying journey (85%). This is particularly true for 83% of those who have just bought their first home in the past year, who said their broker made them feel more secure about the process.
At a time of heighted living costs, affordability - something an overwhelming 95% of first-time buyers said their broker helped them fully understand - remains at the forefront of borrowers’ minds. When asked to imagine they were buying their home again in 2026, pressures from the cost-of-living crisis (25%), budgeting for upfront costs (26%) and rising interest rates (30%) were the three things homeowners would be most concerned about. First-time buyers said they would be particularly worried about (21%) overpaying for a property when prices are so volatile.
More than just money: importance of emotional support
Three quarters (73%) of those who bought, remortgaged or took out a product transfer in the last year saved money as a direct result of working with a broker. The average first-time buyer saved £123 a month on their monthly payments, just shy of the overall average savings of £127.
Santander’s research shows it’s not all about the money for those buying their first home. When compared to second (35%) and third-time buyers (39%), saving money is at the forefront of only a quarter (23%) of first-time buyers’ minds when working with a broker. They place more value on their broker saving them time (28%) and helping them understand complex information (24%).
Graham Sellar, Head of Intermediary Channels, Santander UK, said: “During a time of global economic uncertainty, more than ever, borrowers look for guidance and a sense of security that they are getting the best possible outcome for their mortgage needs. Brokers play a hugely vital role in this - not only by securing the best deals and saving homeowners money - but providing reassurance and emotional support too.”
One in 10 (9%) first-time buyers list emotional support as one of the most important aspects of the broker service - rising to 12% for younger borrowers (aged 18-35 years old), four times more than those over 35 years old.
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Notes to Editors:
1. Research conducted by Opinium on behalf of Santander amongst 500 adults between 18 - 25 February 2026.
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. The bank serves its customers via a nationwide branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the FCA and the PRA in the UK. Santander UK plc customers’ eligible deposits are protected by the FSCS in the UK.
Banco Santander (SAN SM) is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. In the first quarter of 2025, Banco Santander had €1.4 trillion in total funds, 175 million customers, 7,900 branches and 207,000 employees.