The role of brokers remains paramount - Ben Alkins’ at Just Mortgages reaction to the MPC interest rate decision

22 June 2023

Ben Allkins, head of mortgages and protection at Just Mortgages said: “Many would have hoped that the MPC would follow the Federal Reserve – as it often does – and pause its rate rising agenda. But while the Fed pauses to assess the impact of existing increases, the same cannot be said for the Bank of England with stubborn inflation clearly proving too much of a threat to not raise base rate once again.

“As swap rates respond to market expectations and lenders reassess their products, the role of brokers remains paramount to provide quality advice in a changing landscape. While we’d prefer to see base rate falling – like many – there’s no question a base rate change still serves as a reminder to consumers to seek advice and lock in a deal before it changes once again. That’s especially true for the wealth of remortgage business still up for grabs.

“There’s no question the market will continue to present challenges and our message to our brokers has been clear. Now is the time to take advantage of the opportunities available to not only train up and become the best broker you can be, but expand your skill set to boost your earning potential. Business protection is key example of an under-served market with huge upside and real relevance in the current climate.”