New Survey Reveals 80% of Mortgage Brokers Feel Buried by Admin, While 74% Face Escalating Fraud Threats

According to the Equifax Mortgage Broker Pulse Survey 2025, a staggering 80% of mortgage brokers face significant administrative pressures, while 74% have been impacted by fraud. This administrative burden is a persistent challenge, a pain point also identified in our 2024 survey. Brokers are constantly battling top issues like keeping up with changing lender offers and juggling multiple, non-integrated technology systems, which leaves them with insufficient time for strategic client work and business development.

The sharp rise in fraud and scams

Fraud and scams impacting brokers and their clients have seen a three-fold increase since last year's survey, rising sharply from 26% in 2024 to 74% in 2025. For the second year in a row, basic scam emails, calls, or texts were the most common form of fraud, with 50% of respondents reporting them as the number one threat. This reinforces that scams don't need to be sophisticated to work, as cybercriminals are well-versed in exploiting human psychology.

More sophisticated tactics like fake websites, identity theft, and document falsification were encountered by 38% of brokers. These statistics underscore the urgent need for robust fraud protection, especially since only 27% of respondents increased their scrutiny of applications for fraud over the past 12 months.

The role of technology

Despite the challenges, there was a surprising drop in the number of brokers planning to adopt digital solutions, falling from 33% in 2024 to just 17% this year. Instead brokers are prioritising lead generation and market segmentation. This strategic shift is evidenced by their lending priorities over the next 12 months, with 77% more likely to write more commercial loans for SMB’s or large businesses, 40% more likely to focus on first home buyers, and 32% more likely to target investors.

While 40% of brokers report that AI plays a minor role in their business and 33% report no role at all, 27% are already using it extensively. For those who have adopted AI and digital tools, the primary applications are improving general business efficiencies (55%), marketing campaign automation (50%), and basic customer communications (49%). It's also being used to support borrower affordability assessments and to collect financial data, indicating a clear move toward data-driven decision-making.

The survey also revealed that 34% of brokers are already using Open Banking data, with another 30% planning to adopt it in the next year. This willingness to integrate new data sources points to a future where enhanced data availability will drive significant efficiency gains.

Adapting to a changing market

The economic environment continues to shape broker strategies. In 2025, the top three external factors impacting lending assessments in the next three to five years are housing prices (32%), ongoing inflationary pressure (30%), and interest rate moves (29%). These remain consistent concerns, with rising interest rates and affordability restrictions also cited as key causes of application delays in our 2024 and 2023 surveys.

With recent rate cuts and a more favourable market environment, brokers are strategically shifting their focus. A dominant 83% intend to actively drive refinancing opportunities for existing customers, a significant leap from 50% of brokers in 2024 and a quarter in 2023. Additionally, 72% will work with customers experiencing mortgage regret, reflecting a responsive industry adapting to client needs and market opportunities.

Education and future focus

To stay ahead, brokers identify regulation and compliance (20%), new lender products (16%) and AI developments (15%) as the most important areas for ongoing education. This highlights a clear understanding of the regulatory landscape, market offerings, and the transformative potential of technology. 

Digital tools can help brokers enhance efficiency, support customers and strategically position their business for future growth. By providing a unified view of pre-qualification information and simplifying processes, digital solutions can free brokers from administrative pressures and protect against fraud.

Interested in finding out what else the Equifax Mortgage Broker Pulse Survey 2025 discovered? Contact us today.

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