Survey: Email summaries narrowly defeat one-to-one calls as the preferred channel
Brokers have a crucial role to play in helping more than nine in 10 (93%) homeowners understand how government policy and economic changes affect their finances, according to Santander UK’s latest Broker Perception Barometer.
The research was commissioned by Santander and conducted by Opinium among 500 mortgage holders between 9 and 14 September. It lands ahead of the Autumn Budget on 28 October, which is chancellor John Healey’s first and the first under prime minister Andy Burnham.
Borrowing costs are rising into the event. Moneyfacts put the average two-year fixed rate at 5.96% on 15 October and the five-year fix at 5.99%. The Bank of England voted 6-3 to hold Bank Rate at 3.75% in September, with three members preferring a rise to 4%.
What homeowners want from the Budget
Santander said the new Your First Home scheme is well trailed, but its details will only be revealed at the Budget. The Government announced on 26 September that the scheme would pair a 2.5% deposit with a 20% equity loan on new builds in England, with further details due next week.
Asked what they would most like the Budget to deliver, homeowners chose:
- incentives for lenders to offer lower mortgage rates (38%)
- lower stamp duty costs (34%)
- expanded affordable homeownership and first-time buyer support (34%)
- more housing supply through new homebuilding (27%)
The stamp duty wish may go unmet. The prime minister has ruled out changing or scrapping the tax at this Budget.
What clients want from advisers
Santander asked what role or communication homeowners would value from their broker. Almost half (45%) wanted a clear explanation of what any changes mean for them. Some 39% wanted support understanding affordability and new borrowing options. A similar number (36%) wanted guidance on the best time to apply for a mortgage.
Channel preferences were split. About three in 10 (29%) preferred a short email summary. A similar share (27%) preferred a one-to-one consultation by phone or face to face. A WhatsApp or text message (13%) and a short social media video (12%) each appealed to around one in 10.
For wealth managers, the pattern is a useful guide. Clients appear to value plain-English explanation and timing guidance over volume of information. They want to receive it in a short written summary or a personal conversation, not on social media.
Ben Merritt, head of mortgages at Santander UK, said: “The only thing that’s felt constant in 2026 is change. Mortgage pricing has continued to evolve and that can leave customers wondering when, or whether, to make their move. Our Broker Perception Barometer has found that brokers are at the heart of helping people navigate that uncertainty, providing expert guidance when it’s needed most. Whatever changes the budget brings, their role in supporting customers to make confident mortgage decisions will remain critical.”
Value outside budget season
Santander said the support is also valued outside times of change. Nearly nine in 10 (88%) homeowners who had used or spoken to a broker in the last 12 months said they felt more secure about buying or remortgaging as a result. A similar number (85%) said they would use a broker again for a purchase or a change of provider. Homeowners said they saved an average of £114 a month as a direct result of engaging with a broker.
The findings come from a single quarterly survey of 500 respondents, commissioned by a lender. The £114 saving is self-reported by homeowners rather than independently verified. Several data points will shape the conversation in the coming weeks. CPI for September is due on 21 October, the Budget follows on 28 October, and the Bank of England’s next rate decision is on 5 November.
