Comment: Making sure protection conversations don’t take a back seat – Mortgage Strategy
Brokers know a thing or two about working under pressure. The hours can be long and flexibility is key, especially as things can turn on a sixpence.
The past few months have been particularly testing, with the war in the Middle East sending swaps soaring, which has caused lenders to pull products at a moment’s notice to protect their margins.
Many brokers I have spoken to recently have told me how they are working flat out to snap up rates for their clients before they disappear. At times like these, when the market is busy and volatile, protection tends to take a back seat. That’s because most borrowers are almost myopically focused on securing their chosen deal — and their broker is trying their hardest to make it happen.
If you bring the protection conversation forward, perhaps a year before the client is due to refinance, they will have more headspace to consider what you’re telling them
But it doesn’t have to be an either/or situation. There are a number of ways you can ensure you are dealing with the flurry of cases coming in while still having those all-important protection conversations.
Change the timing
One of the simplest things you can do to give such conversations the time they deserve is to change when you have them.
Traditionally, advisers would have the mortgage talk before moving on to deal with the client’s protection needs. But there is no reason these have to happen in the same meeting.
In a fast-moving environment, with tensions running high, securing the rate is the client’s priority, with protection usually much lower down. However, if you bring the protection conversation forward, perhaps a year before the client is due to refinance, they will have more headspace to consider what you’re telling them.
This doesn’t have to be an either/or situation
It also means protection isn’t left as an afterthought squeezed in at the last minute but is treated as an equally important part of the advice process.
This approach has another practical benefit. Having an earlier talk about protection enables you to gather more information, which may save time on your factfind when you come to advise on your client’s mortgage needs.
Bring in the expertise
When the market moves at its current pace, even brokers who are highly adept at advising on protection can struggle to find the time to fully explore their clients’ needs.
Bringing in an adviser whose sole focus is protection solves that issue. It means there is less risk that those conversations slip and it releases you and other mortgage writers to concentrate on arranging the finance.
We’re currently working on a protection mentoring scheme of our own
It also shows your clients that you believe that the protection talk is just as important as the one about their mortgage.
Partner with a specialist
Admittedly, recruiting that kind of expertise is a big commitment, both financially and in terms of the time it takes to find the right person.
But in-house expertise isn’t essential. In fact, for many firms a smarter and more cost-effective way of making sure that conversation still happens is by exploring a referral partnership instead.
Protection isn’t left as an afterthought squeezed in at the last minute but is treated as an equally important part of the advice process
This sort of relationship works well for everyone involved. You keep the client and get paid for the referral, while they receive top-quality protection advice from a firm that specialises in nothing else.
Find a mentor
As a network, we firmly believe in the power of knowledge sharing.
One of the best ways to get better at something is by tapping into the expertise of a more experienced colleague or peer, whether that’s through an informal chat or a more formal relationship like mentoring.
Bringing in an adviser whose sole focus is protection means there is less risk that those conversations slip
That’s why we’re currently working on a protection mentoring scheme of our own, pairing brokers who want to improve their skills with those who are experienced protection writers as part of a 12-month programme.
The market doesn’t look like it’s going to slow down anytime soon. But brokers who get their processes right, bring in the right expertise or seek out a mentor will find themselves far better placed to deal with whatever the market throws at them next — all while continuing to deliver the quality advice their clients deserve.
Emma Hollingworth is chief distribution officer at LSL Financial Services
This article featured in the October 2026 edition of Mortgage Strategy.
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