The best mortgage network can help you propel your business forward in a number of key ways, helping you to connect with new customers and consistently deliver high quality experiences every day. While it can be all too easy to focus on certain numbers and promises that may be being made by different networks, it’s also important to consider the culture and ethos motivating all the networks you’re considering.
Let’s look at some of the most important culture related questions to ask a prospective mortgage protection network before signing on the dotted line.
1. How would you describe your network’s culture?
Every successful business is driven by a strong culture and clear values, so if you ask this question and you’re offered a somewhat vague or generic response, this should be a clear red flag and indicate that focusing your attention elsewhere will help you to find a better fit for your business.
As an example, at Stonebridge our values are at the heart of everything we do. This means that we ensure we’re always working in partnership with our members to help them grow their businesses in the way they want to. We’re also motivated by a desire to create a better future, so we focus on investing in the development and overall well-being of our people, as well as finding new ways to improve the mortgage transaction process for all parties.
2. How do you stay connected with firms?
Unfortunately, there are networks out there who don’t make the effort to sustain open channels of communication with their members. However, without these channels of communication and dedication to providing online and in-person experiences, it’s simply not going to be possible for you to receive genuine value for money or the support you need to grow and thrive.
Stonebridge network members all have a dedicated business development team who work in partnership to support your goals and objectives, implement strategies to achieve them, and celebrate success. So, it’s important to remember that your network should be easily contactable and readily provide you with tangible services that will benefit your business.
3. What’s your approach to AR targets and performance?
Some networks set targets for business volume or revenue, while others allow members to go at their own pace. If your firm is joining a network that imposes strict targets, you might feel pressured to prioritise quantity over quality — which can impact customer service, compliance, or staff wellbeing. On the other hand, a network that offers guidance without hard targets might give you more flexibility to build a sustainable business.
Ultimately, you need your chosen network to work for your business whilst also helping you to see the potential that could come from making certain strategic decisions. You should feel comfortable discussing everything with them, which is something that we strive for here at Stonebridge.
4. Can I speak to a couple of existing firms about their experience?
If the answer to this question is yes, then this is a great sign. However, if they say no or are in any way cagey in their response, this could mean that they’re nervous about what their existing members might say. While you could spend time looking online for firms that are part of the network you’re considering, this isn’t something you should have to do and probably tells you all you need to know.
5. How long do firms typically stay with you?
Retention is an excellent indicator of satisfaction and a positive culture, so if a prospective network can demonstrate that firms tend to stick around for the long term, this is a positive sign that you can expect to experience genuine value for money and ongoing support.
When firms are inclined to stay with the same network for a long time, this also suggests that the network is consistently developing its services and technology to keep pace with developments in the wider mortgage sector. This is important, as technologies develop quickly and you need to know that your chosen network will be able to continually support you and your business as it evolves.
Why Culture Matters When Choosing the Right Mortgage Network
While culture can sometimes be seen as less important than cold, hard facts that can be analysed in detail, it’s a fundamental part of finding the best mortgage network for your needs. So don’t be afraid to ask any of these questions throughout your journey, as they will really help you to get a good feel for whether you’re making the right decision for your firm.
At Stonebridge, we firmly believe that a strong cultural fit creates the foundation for long-term success. Please don’t hesitate to contact our friendly team, we’re here to talk you through how Stonebridge can not only meet your practical needs, but also provide the cultural fit that makes doing business feel right.
