The Intermediary – March 2026 - Flipbook - Page 35
T H E I N T E RV I E W
Santander
growing interest in artificial intelligence (AI).
While Sellar believes tech will continue to play
an important role in streamlining processes, he
does not expect it to fundamentally alter the
industry in the near future.
“There’s a lot written about AI and
technology,” he says. “And brokers will worry
about lenders doing AI mortgages and lenders
doing more mortgages direct.
“But at Santander, we’re very much about
backing the broker, giving them the tools to
help their customers.”
Instead of focusing on automated advice
systems, Santander is prioritising operational
efficiencies behind the scenes.
“We would use technologies to make the
processes and the experience slicker for the
broker and their customer,” Sellar explains. “So,
in real terms, when we receive applications,
rather than moving them around by hand and
printing stuff off, queues are now automated.
We now access information to value properties
and to prove income.”
These developments reduce manual
administration and accelerate underwriting
decisions, while leaving the advisory
relationship between broker and
borrower unchanged.
“Our message is very much that we want to
support brokers and give them better tools,”
Sellar says.
Looking several years ahead, Sellar expects
AI to become embedded within lender
processes, helping automate tasks and improve
efficiency. However, he believes the core
structure of the mortgage market will remain
broker-led.
“At the moment, 90% of cases in the UK go to
a broker. We don’t see that changing,” he says.
Mortgages, he argues, remain complex
financial commitments that most consumers
prefer to navigate with professional help.
He adds: “We’re very much about the broker
giving advice to the customer, because the
mortgage is such a high-profile product and it
is complicated. Customers should always get
advice from the broker where they can.”
Navigating uncertainty
The past few years – and indeed, few months
– have been characterised by periods of
economic and political uncertainty, with
mortgage pricing often responding quickly
to shifts in financial markets. For Sellar,
this volatility has served to reinforce the
importance of broker guidance.
Whether responding to political
developments, economic forecasts or
international events, borrowers often look to
advisers for reassurance and interpretation.
Sellar adds: “By having a mortgage broker
who understands what’s going on, it helps
customers in their journey. If someone started
mortgage application two months ago and then
reads worrying headlines in the media, the
customer can ring the broker, and the broker
can explain what it means for them.”
Internal customer research conducted by
Santander supports this view, he explains:
“The message we get back very strongly is that
customers trust their mortgage broker. They
see them as a counsellor, an adviser, even a
friend who helps them through the process.”
In a world of increasing automation and
digital tools, Sellar believes that human
guidance remains a crucial part of the mortgage
experience.
Sellar adds: “None of us know what’s going
to happen tomorrow, but at least the customer
has got someone they can speak to and ask
‘What do you think? What do you what do you
recommend I should do?’
“Mortgage pricing will always go up.
Mortgage pricing will always go down. World
events will always happen - but I think it’s
really important that brokers recognise how
important they are.”
The intermediary journey
Santander’s focus remains firmly on
strengthening its position within the
intermediary market. That involves ensuring
brokers feel confident recommending products
to both new and returning customers. ‘My
First Mortgage’ is only one element, with
further developments expected as the lender
continues to refine its intermediary offering.
Sellar says: “We want to continue to grow
our propositions like the 98% mortgage,
along with other things we’ll bring to market,
our current pricing, our current service, our
relationships, and our teams. We just want to
continue doing everything we can to make the
brokers want to use us again and again for their
current customers, their future customers and
their returning customers.”
Even as the mortgage market moves through
another period of change, Sellar remains
confident that the core structure of broker-led
advice will endure. And for someone who has
spent more than 30 years in the intermediary
channel, that continuity remains the most
important constant of all.
He concludes: “They will still be the personal
people helping customers in the future. That’s
not going to change.”
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