Jason Berry

Brokers lose sleep over increased demand, CSF study shows

Only 13% of brokers are getting the recommended daily dose of eight hours of sleep, Crystal Specialist Finance has revealed.

According to its new health and wellbeing survey, 23% of intermediaries stated they never sleep for eight hours.

In addition, 62% of brokers only receive the recommended daily dose of sleep less than half of the week.

When asked about their overall level of contentment, 35% of brokers indicated they were only moderately satisfied, while 16% of the poll stated they were totally disillusioned with their working lives and considering their options.

Over 100 specialist finance intermediaries were surveyed, with 95% of the respondents directly authorised mortgage brokers and/or appointed representatives, and 5% professional introducers, such as accountants and solicitors.

Jason Berry, group sales and marketing director at CSF (pictured above), said he was not surprised that the sector was 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.”

He added that the recent market developments will cause “enormous” stress and strain on the broker community, which is heightened further by the latest Covid-19 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.”

CSF launched its health and wellbeing campaign on 18th August and is working in cooperation with leading national mental health charity Mind.

Various fundraising events are scheduled over the next 16 months and a series of virtual events are set to be delivered in 2021.

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