In this new series, Warren O’Connell, Head of Business Development for Sourcing at Iress, sits down with some of the UK mortgage market’s movers and shakers to explore their perspectives, predictions, and personal passions driving the industry forward.
This time, Warren chats with Tanya Toumadj, MD at Mortgage Broker Tools, the market leader in mortgage affordability. Iress and MBT have worked together since 2020, and Warren and Tanya have shared the stage many times to discuss the mortgage market, its challenges, innovations and opportunities. They're known for their honest takes and insights - so, Tanya, are you ready for some home truths?
Tell us, what’s exciting you most about the UK mortgage market right now?
Can I pick two? Firstly, it’s the amount of innovation we’re seeing from lenders. For a long time, the market felt very price-driven, but that’s really starting to shift. Lenders are now looking beyond rates and focusing on areas like affordability and criteria, which is making it possible for more people to access borrowing. And secondly, it is seeing collaboration finally coming together in the tech space, giving brokers best-of-breed solutions in one place as opposed to a “one size fits all” approach.
Where do you see the biggest opportunities for brokers and intermediaries in the next 12 months?
I think the real opportunity is in automation and simplification. Technology has evolved so much, and brokers now have access to software that can remove a lot of the manual work that eats up their time. By using the best software available, brokers can spend less time on admin and more time on what really matters, which is building relationships with clients and giving quality advice. The firms that embrace that balance between tech and human touch are the ones that’ll thrive.
What’s one industry challenge that you think doesn’t get talked about enough?
Affordability is one of those topics that comes up a lot, but not always in enough depth. At MBT, we talk about it constantly because it’s such a key part of the lending landscape and it’s something lenders can use as a lever for growth, provided they manage risk properly. What doesn’t get highlighted enough is that in over 70% of cases, the lender offering the best affordability isn’t one of the top ten. That’s a big deal. It shows how important it is for brokers to be truly whole-of-market, with a wide enough panel to find the best possible outcome for each client.
If you could wave a magic wand and change one thing about the mortgage process, what would it be?
To reduce the stress of moving home. Even working in the industry, it's still a worry when it's your home. The industry is trying to make great strides, but far too many deals take too long or collapse, causing financial and mental stress.
We can't solve everything at MBT, but we passionately believe the process can be improved by knowing what you can borrow before you look to move.
What drives you personally in this industry? What keeps you motivated?
For me, it’s simple; we’re helping people get their dream home. That’s what it all comes down to. At MBT, our role is to provide the technology and data that help brokers and lenders make that happen. Knowing that our platform helps deliver better advice and better outcomes for real people, that’s what keeps me motivated.
How do you see collaboration shaping the future of the mortgage space?
Collaboration is everything. No single business can solve all the challenges in this market alone. The future is about partnership, bringing together experts from different areas to build something genuinely better. At MBT, we’ve always been very pro-collaboration. We focus on partnering with others who are best in their field to deliver a complete, best-in-class solution for brokers and lenders.
Technology has made an enormous difference to the intermediary journey. Where do you see the biggest gains still to be made?
There’s still a lot more to come from automation. Technology can take on even more of the repetitive, manual tasks, freeing up intermediaries to focus on the client. We’ve made great progress, but there’s still huge potential to make the process feel smoother and smarter for everyone involved.
How does Iress fit into your strategy, and how do our tools and partnership help you deliver better for your customers?
Iress is a really important partner for us. We share a similar philosophy; we both believe in working collaboratively to deliver the best possible solutions for brokers. Our partnership means we can integrate affordability, criteria and product information right into the broker’s workflow, so the information they need is there when they need it. It’s a great example of how partnership and technology can combine to make a real difference in day-to-day broker life.
What does success look like for you - and for the industry - over the next five years?
For MBT, success means continuing to deliver the best research platform out there for brokers, but also helping lenders identify and serve areas of the market that are currently underserved. Around 15% of clients today don’t have a lender who’ll lend to them, and we see that as a real opportunity. By using data to show lenders where those gaps are, we can help more people get the homes they want. For the industry as a whole, success looks like a market that’s more inclusive, more efficient, and more connected.
Finally, if you could give one piece of advice to intermediaries navigating today’s market, what would it be?
Time is your most valuable resource, and it’s easy to get stuck in the day-to-day. My advice would be: take the time to look at your processes and see where you can make improvements or bring in automation. I know it’s hard to find that time upfront, but the gains down the line are huge. You’ll save time, improve consistency, and ultimately give better service to your clients.
Thank you, Tanya, for sharing your Home Truths.
At Iress, we have conversations like this every day and through industry meet-ups like our Mortgage Forum. By talking openly in this way, we can develop the right tools and technology to keep brokers and lenders ahead of the opportunities that exist in the mortgage market.
Look out for more Home Truths from our other friends and partners soon.
Would you like to be interviewed by Warren? Email him at warren.o’connell@iress.com
