Mortgage leads come from a broker's own website and referrals, past clients, lead generation companies that sell enquiries, and data brokers that supply contact lists. If personal data is processed for direct marketing, even in a business context, the UK GDPR applies. [1] Separate guidance covers firms that use data brokers' marketing services. [2]
On this page
How do brokers generate mortgage leads?
Mortgage leads come from a broker's own website and referrals, from past clients, from lead generation companies that sell enquiries, and from data brokers that supply contact lists. Some leads start with the person asking for help, while others start with the broker contacting someone from a list.
Whether a firm builds these routes itself or uses outsourced marketing support depends on how many enquiries it can handle and where its current work comes from.
Typical leads include first-time buyers asking how much they could borrow, homeowners nearing the end of a fixed rate, buy-to-let landlords and people moving home.
Brokers weighing an outside provider can compare the main models in how outsourced providers work.
How do lead generation companies get their leads?
Lead generation companies get mortgage leads mainly by running their own marketing and passing on or selling the enquiries it produces. In the mortgage market that may mean affordability calculators that ask for contact details before showing a result, "see what you could borrow" landing pages, paid search adverts aimed at remortgage searches, and social media adverts aimed at first-time buyers.
Some companies also buy or rent contact data from data brokers and then call, email or text the people on it. A lead may be sold to one broker or to several, which affects how fresh it is by the time a broker makes contact.
The ICO publishes separate guidance for organisations that use the marketing services of data brokers. [2]
Where can I find mortgage leads in the UK?
When comparing these routes, it helps to ask which suit the firm's capacity and where its current work comes from:.
- the firm's own website, with enquiry forms, borrowing calculators and a booking page
- referrals from estate agents, new-build developers, solicitors and accountants
- past clients whose fixed rate deals are coming to an end
- reviews and local search listings that bring people to the firm
- lead generation companies selling enquiries
- data brokers supplying contact lists
Past clients already know the broker, while referrals may arrive through an introduction but can still be new to the broker. Bought leads may have no previous relationship with the broker, so it may help to check the original enquiry wording and the supplier's record of how the details were collected.
Marketing rules when contacting mortgage leads
PECR contains rules on direct marketing by electronic message, such as phone call, email, text message and fax. If personal data is processed for direct marketing, even in a business context, the UK GDPR applies. [1]
Individuals have the right to be informed about the collection and use of their personal data for direct marketing purposes.
If marketing is sent by post, PECR does not apply. The CTPS and TPS act as a general objection to receiving live direct marketing calls.
The ICO's business-to-business marketing guidance is under review because of changes made by the Data (Use and Access) Act and may change, so it is worth checking the current ICO guidance before starting a campaign.
Homebuyers, landlords and limited company borrowers
Many mortgage enquiries come from people borrowing in their own name, so a large share of mortgage leads are individuals rather than businesses. If an individual is using a professional networking site in their personal, albeit professional, capacity, sending them direct marketing messages is not considered B2B marketing.
The PECR rule on direct marketing by electronic mail does not apply to corporate subscribers, but sole traders and some partnerships are treated as individual subscribers, so they can only be marketed to by electronic mail if they have specifically consented or the soft opt-in applies. Corporate subscribers are corporate bodies with separate legal status, such as companies and limited liability partnerships, and if a broker is unsure whether contact details belong to an individual or a corporate subscriber, that puts it at risk of breaching PECR.
If a broker collects an individual's contact details in their business capacity and intends to send them direct marketing messages, the broker must tell them about this and have a lawful basis under the UK GDPR for the processing.
The business-to-business guidance used here covers marketing to other businesses and business contacts, so it does not set out the full rules for contacting people who borrow in their own name.
Objections and opt-outs on bought mortgage leads
Businesses and business contacts can object to direct marketing. If an individual withdraws their consent or objects, processing of their personal data for B2B marketing purposes must stop.
For a broker taking leads from more than one supplier, the same person may turn up on several lists. A "do not contact" list, screened against each new batch of leads, keeps earlier objections visible. A record of the enquiry date, the form or calculator wording and the supplier's name for each lead may help show where a contact came from if a person later asks.
Sources
Rates, thresholds and dates in this guide come from these sources. Check the source for the current figure.