Health and wellbeing issues have risen up the corporate agenda in the wake of the Covid pandemic.
Many businesses now recognise the importance of supporting employee wellbeing, particularly in relation to mental health.
This focus has been bolstered by national campaigns aimed at raising awareness of mental health in the workplace as well as reducing some of the stigma around widely experienced issues — from stress and depression to burnout.
At boardroom level, supporting wellbeing is not solely about being a ‘good’ employer or meeting specific corporate social responsibility targets. Many companies increasingly view this as an effective way to tackle absenteeism and boost productivity, with a healthier, happier workforce ultimately helping to improve the bottom line.
Wellbeing can no longer be viewed as a ‘nice to have’. It’s a business-critical issue
This shift has certainly been evident in the mortgage industry. The Mortgage Industry Mental Health Charter (MIMHC), which launched in 2021, provides a framework of best-practice guidelines tailored to the sector.
The charter now has more than 200 signatories — including high-street banks, specialist lenders and brokers. It also runs a series of awareness-raising events throughout the year, including charity balls and walk-and-talk events.
Under-representation
Despite this success, Jason Berry, co-founder of the MIMHC and group sales director at Crystal Specialist Finance (see also One to One), is far from complacent, saying more needs to be done to specifically address wellbeing issues in the mortgage broking sector.
Berry points out that mortgage brokers remain under-represented among the charter’s signatories, and says he wants to see more of them sign up to these guidelines. In addition, he would like more proactive support from lenders, networks and mortgage clubs.
Training is given so we can be more alert to the signs that someone may be struggling
“While some lenders have made great strides in supporting their internal teams with mental-health training, this support rarely extends to the brokers they rely on,” says Berry.
When it comes to wellbeing, the challenges faced by mortgage brokers mirror those in many other sectors: increased isolation due to remote working; blurred boundaries between work and home life; an ‘always on’ culture driven by modern technology; and heavier workloads that contribute to stress and eventual burnout.
But there are several specific pressures within the mortgage industry that add to these problems.
Many brokers work in small firms or operate as sole traders, so don’t have the backing of an in-house human-resources department. The deadline-driven nature of the work can also add strain, particularly as these deadlines are often tied to client expectations and complex property chains. This can result in brokers working long hours, with many struggling to switch off or take meaningful breaks. Commission-based income can also create financial volatility, increasing anxiety during market downturns and quieter periods.
Managing clients’ disappointment can negatively impact the broker’s own mental health
These factors combine to make the profession particularly demanding from a mental-health perspective, and market conditions in recent years have compounded the issues.
L&C associate director David Hollingworth says: “The volatility in mortgage rates has brought additional pressure for both brokers and customers.
“Trying to manage those periods to get the best outcome for customers will have stretched capacity, especially when there was little or no notice of rate withdrawals. Even now, with interest rates stabilising, the pressure persists as advisers try to ensure clients are on the best rate available.”
SPF Private Clients director Miranda John agrees and points to the emotional demands of the job.
“There are additional pressures when dealing with clients who are moving house — often cited as one of the most stressful life events,” she says.
“Often, brokers develop strong relationships with their clients. Repeatedly delivering bad news and managing their disappointment can negatively impact the broker’s own mental health.”
Raising awareness of various conditions builds empathy and understanding among colleagues
So what can be done to assist brokers in managing these stresses? Berry says there is a range of support options.
Many larger broker firms now offer access to an employee assistance programme (EAP) as part of their wider staff benefits package. Such programmes typically include a confidential counselling service and mental-health support. Some also offer a corporate cash plan with a selection of benefits, such as various helplines.
First-aiders
Many businesses now invest in training key staff members to be mental-health first-aiders. Both EAPs and mental-health first-aiders are seen as important ways to ensure that individuals who are already feeling overwhelmed can access the help they need.
Alongside this, however, firms need to establish working practices that can help prevent issues from arising in the first place. This includes ensuring staff take their full holiday entitlement, setting clear expectations around out-of-hours communication, arranging regular social events — especially if there are significant numbers of people working from home — and promoting physical activity and a healthier lifestyle.
I’d love to see more lenders embedding broker wellbeing into their partnership models
Many brokers report that these initiatives can boost wellbeing. For example, John notes that SPF Private Clients now offers free yoga sessions every Friday, which have been well received by staff.
Heron Financial business development manager Fiona Hopton is one of the firm’s trained mental-health first-aiders. In her role she helps raise awareness of available support.
“I send out monthly reminders, often tied to a theme such as stress awareness or sleep health,” she says. “These messages can resonate with people and they include signposts to further support.
“Training is given so we can be more alert to the signs that someone may be struggling.”
Hopton points out that the mental-health first-aider is not a qualified counsellor and not there to “solve the problem”.
Coventry BS stuck to its 48-hour pledge during some of the busiest periods, which was really helpful
But they will be able to suggest places to go where the employee can receive appropriate support, and provide reassurance that it is permissible to raise such issues in the workplace.
She stresses that, if firms are serious about wellbeing and want to make effective changes, this needs to be led from the top of the business. For example, there is no point in telling employees they should not check emails after hours if their line manager then sends them updates at 8pm on a regular basis.
“The business as a whole needs to embrace these changes,” says Hopton, “with those at the top being honest about the potential challenges around this. This has certainly happened at Heron Financial and it is making a real difference.”
Hopton adds that it is important to consider who is appointed as a mental-health first-aider.
“Some staff may feel uncomfortable speaking to a manager,” she says.
She points out that she is a long-standing member of staff and is therefore well known within the organisation, which can make a big difference.
We’ve created a dedicated hub full of resources to help advisers support themselves and their clients
“People know who I am and hopefully feel comfortable to approach me,” she says. “It’s also useful to have both male and female first-aiders, so employees feel comfortable raising more personal concerns.”
Visionary Finance executive assistant to the MD Jody Beard says that employee wellbeing extends beyond issues of stress and burnout.
“The landscape of work has changed considerably over the past few years, as has our understanding of what wellbeing means.”
She cites, for example, issues around menopause.
“Despite the fact every woman will experience it, it’s often not discussed openly. Navigating menopause at work can be challenging and difficult, and more support and awareness are needed.”
Hopton says there is also far more awareness around neuro-divergence and how this affects those in the workplace.
“Raising awareness of conditions like ADHD and autism, as well as menopause, doesn’t just help those experiencing the conditions but builds empathy and understanding among colleagues too.”
Our ‘Be More You’ campaign supports brokers in taking time for themselves — something that’s often overlooked
Beard notes that, while many firms want to offer support, smaller businesses often struggle to afford the cost of EAPs or corporate cash plans.
Hybrid working options can also be difficult to implement in smaller teams, especially when meeting the needs of different age groups.
Remote working
Many brokers now work remotely for at least part of the week, but this can bring additional challenges in relation to wellbeing.
While some people find their wellbeing is improved with more flexible hours — particularly those juggling caring responsibilities or those more settled in their career — it does not suit others.
If firms are serious about wellbeing, this needs to be led from the top of the business
Younger workers, for example, may live in shared, less spacious housing, and more remote working can hinder career progression, increase social isolation and potentially exacerbate mental-health issues.
The challenge for many broker businesses is finding a strategy that works for all cohorts.
But Hopton says there are resources that smaller businesses can tap into. For example, she cites the government-backed Able Futures scheme, which offers confidential mental-health support to employees and the self-employed, at no cost to the employer.
Berry says mortgage networks and clubs have a role to play in supporting smaller brokers and self-employed advisers. Many now include wellbeing services alongside their core administrative and compliance support.
The Right Mortgage equity release supervision and development manager Rebecca Egerton is a wellbeing champion and mental-health first-aider.
I send out monthly reminders, often tied to a theme such as stress awareness or sleep health
She says: “The wellbeing of our advisers and staff is a top priority. We’ve created a dedicated hub full of resources to help advisers support themselves and their clients.”
Egerton adds that the network also has a ‘vulnerability champion committee’ made up of representatives from various departments, which “regularly reviews internal processes to identify concerns”.
She says these specialists are available to advisers for confidential conversations, noting that a recent webinar, promoting these services, resulted in several brokers reaching out for help.
Lender support
Lenders, too, have been stepping up, improving their processes to help reduce broker workload, which some brokers report has alleviated their stress levels.
The volatility in mortgage rates has brought additional pressure for both brokers and customers
John says: “Market Harborough and Coventry building societies, Aldermore Bank and Santander have all introduced pledges on early and timely notification of product withdrawals.
“These lenders are committing to no short-notice withdrawals, which previously created additional pressure and unsociable working hours for advisers.”
Hollingworth agrees that these changes are having a positive effect.
“Coventry BS stuck to its 48-hour pledge during some of the busiest periods, which was really helpful. Santander has more recently pledged at least 24 hours’ notice of product changes.”
Other lenders are going further. As a signatory to the MIMHC, Pepper Money has expanded its wellbeing-focused retreat events, helping brokers improve their work/life balance while providing networking opportunities.
Pepper Money sales director Paul Adams says: “Our ‘Be More You’ campaign supports brokers in taking time for themselves — something that’s often overlooked.
While some lenders have made great strides in supporting their internal teams, this support rarely extends to the brokers they rely on
“We know brokers frequently work outside traditional hours to meet client needs, especially given the challenges of recent years. Our events create space for people to pause, reflect and reset.”
Berry adds: “I’d love to see more lenders embedding broker wellbeing into their partnership models — whether that’s through co-hosted events, subsidised mental-health support or simply encouraging open conversations.
“Wellbeing can no longer be viewed as a ‘nice to have’. It’s a business-critical issue. Firms that prioritise it will not only retain their talent but also perform better over time.”
This article featured in the June 2025 edition of Mortgage Strategy.
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