Nine in ten mortgage brokers support plans to revolutionize property sales and reduce the time it takes to complete a transaction from an average of 109 days to 28 days.
The newest HSBC Broker BarometerResearch found that 89% of mortgage advisers believe the reforms, known as Project 28, would be a positive step forward for the sector.
In the quarterly survey of 465 brokers, respondents cited providing upfront information, early training of carriers and the ability to share data securely as top priorities for reducing transaction times.
About six in ten brokers, or 57%, believe that one to two years is a reasonable time frame to reduce the average time between agreed sale and exchange of contracts to 28 days.
HSBC’s research shows that optimism in the sector is high, despite wider challenges in the economic and housing markets.
While agents expect home application volumes and market activity to decline after the summer, with 35% expecting an increase and 44% expecting current levels to persist, the vast majority of agents (67%) still describe 2025 as a good year for the mortgage industry.
Advisors continue to report that adjustments to lender stress rates have made a meaningful difference for borrowers.
Nearly two-thirds (63%) say lending has increased since lenders relaxed affordability assessments, with more brokers describing these increases as “significant”.
Seven in ten (69%) agents rate their overall happiness at a seven out of 10 or higher – in line with earlier this year – and more than 80% say they plan to stay in the industry long-term.
Most brokers (65%) expect their business to grow over the next twelve months, while 11% expect their business to experience significant growth over the next twelve months.
Chris Pearson, head of intermediary mortgages at HSBC, said: “The HSBC UK Broker Barometer provides valuable insight into the challenges and opportunities facing mortgage brokers today.
“Our latest Barometer shows a profession that is realistic about the current market, but satisfied with how the year has gone so far and confident in the direction the sector is heading.
“Despite some economic uncertainty, brokers remain pragmatic and positive about the year ahead.
“The confidence in the market, coupled with the continued high levels of job satisfaction we see in the Broker Happiness Index, shows an industry that is grounded but optimistic – and committed to supporting clients in changing circumstances.
“Real estate agents are strongly behind initiatives like Project 28, recognizing the power of innovation to improve the buying experience for their customers.
“Their support for Project 28 underlines a shared commitment across the industry to make the home buying journey faster, more transparent and more efficient – something that will benefit agents, customers, lenders and conveyancers alike.
“Project 28 represents a real opportunity to simplify one of life’s most stressful experiences – and real estate agents fully support it.”