Brokers suffer paper overload; More than half a day spent on regulation and admin.

By Bjorn Sodeland

MORTGAGE brokers are struggling to cope with the increasing burden of regulation, according to a survey.

Intermediaries in the mortgage industry spend more than half their working day dealing with regulatory matters and routine administrative tasks, according to the survey by Bankhall Point One, the unregulated network.

Only 23 per cent of a mortgage brokers day was spent on identifying the best deals for clients, according to the findings.

Shaun Godfrey, sales director of Bankhall, said: "In these competitive days of lean margins and customer switching, brokers who are swamped in bureaucracy could struggle."

The …