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October 01.2025

2 Minutes Read

Mortgage Adviser Numbers Decline 11% Year-Over-Year: A Call to Action for Financial Institutions

Stacked blocks with red arrows showing decline, representing mortgage adviser decline.

The Declining Numbers of Mortgage Advisers: A Wake-Up Call

The mortgage industry is facing a significant challenge as the number of mortgage advisers dropped by 11% year-on-year in 2024, marking the first decline since 2020. With only 31,524 advisers left in the field, this finding raises alarm bells for financial institutions relying on these professionals to guide homebuyers through increasingly complex markets.

Why Are Mortgage Adviser Numbers Falling?

Experts attribute the decline to several intertwined factors. Increasing regulatory pressures are making it more difficult for advisers to navigate the complex landscape of mortgage products. Industry leader Stephanie Charman noted that a negative work-life balance, soaring business costs, and shrinking revenues have also contributed to the unsustainability of the role. Additionally, the demographic shift with an aging adviser population further complicates matters, as seasoned professionals exit the workforce without adequate replacements.

The Impact of Technology on Recruitment

Charman emphasizes that addressing the need for new talent is essential. Recruitment isn't simply about filling vacancies but also about inviting a fresh wave of innovation and diversity into the sector. Initiatives like the Working in Mortgages mentoring platform aim to cultivate young professionals equipped to handle the evolving dynamics of the industry. Futureproofing the sector hinges on creating enticing career paths that attract younger individuals to mortgage advisory roles.

Market Correlations and the Future of Mortgage Advisers

Ben Thompson from the Mortgage Advice Bureau argues that there's a direct link between market volume and the number of advisers. A sharp decline in the market in 2023, followed by stagnation in 2024, likely influenced the adviser numbers. As industry pressures mount, financial service providers must adapt to these realities, ensuring they have the advisory framework needed to guide consumers effectively.

As these trends become increasingly evident, it’s crucial for financial institutions to revisit their recruitment strategies, focusing not only on immediate needs but also on long-term sustainability. Developing a supportive environment for the next generation of advisers could very well dictate the future health of the mortgage advisory landscape.

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Mortgage Adviser Numbers Decline 11% Year-Over-Year: A Call to Action for Financial Institutions

The Declining Numbers of Mortgage Advisers: A Wake-Up Call

Why Are Mortgage Adviser Numbers Falling?

The Impact of Technology on Recruitment

Market Correlations and the Future of Mortgage Advisers

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