16% of brokers disillusioned with working lives
In answer to a health and wellbeing survey conducted by Crystal Specialist Finance (CSF), 35% of brokers indicated they were only moderately content whilst 16% stated they were totally disillusioned with their working lives and considering their options.
Results showed that only 13% of brokers were getting the recommended eight hours sleep per night, with 23% stating that they never sleep for eight hours and 62% only receiving the recommended amount of sleep less than half of the week.
The survey respondents were 95% directly authorised (DA) mortgage brokers and appointed representatives (AR) with the 5% balance being professional introducers, such as accountants and solicitors.
The survey forms part of CSFs long-term commitment to support mental health. The company expects to deliver advice via their website, as well as hosting future events which introduce mentoring programmes.
Jason Berry, group sales and marketing director at CSF, said: “I’m not surprised that our sector is seeing a huge number of brokers not receiving enough sleep.
“The pent-up consumer demand which built from the last week of March to the end of June has seen recent transaction levels rocket and many brokers are undoubtedly working harder than ever to satisfy clients.
“The stamp duty holiday and revised Permitted Development rules, which make planning consents easier, are helpful but both are likely to mean the high consumer demand continues.
“On the surface this appears to be great news but there will be enormous stress and strain on our broker community which is heightened further by the latest COVID trends.
“We already have 16% of brokers totally disillusioned and I fear this will increase significantly in the coming months.
“I hope our Health and Wellbeing Campaign can deliver expert hints and tips but most importantly supply meaningful tools which support those brokers most in need.”