AI, advice and focusing on what matters
Stephanie joined the Association of Mortgage Intermediaries (AMI) as Chief Executive in February 2025 having held previous roles within key distributors, spanning across 27 years. Throughout her career working across the intermediary sector, Stephanie has been a passionate promoter of the need for, and value of, advice.
AI, advice and the importance of knowing what really matters
There is plenty of discussion about how artificial intelligence could transform mortgage advice. AI will undoubtedly play an important role, but it is worth remembering that this is part of a much broader evolution of technology across financial services. The important question is not whether technology will influence our market — it already does — but how it is used to deliver the best outcomes for customers.
From the AMI’s perspective, the guiding principle is straightforward. Technology, including AI, should support and augment professional human advice, not seek to replace it. Buying a home remains one of the most significant financial decisions most people will ever make, often accompanied by emotion, uncertainty and long-term consequences. That context still matters, regardless of how advanced our systems become.
Customer choice must remain at the heart of the mortgage journey. Different generations have different levels of comfort with digital interaction. Some are happy to transact online for everyday needs, such as shopping on Amazon as well as applying for loans and credit cards. Others place greater value on human involvement both in small and larger transactions. Yet even among digitally confident younger borrowers, there appears to be a recognition that certain decisions are simply too important to leave entirely to automation.
We are also seeing a shift in trust. Concerns around AI-generated misinformation, deepfakes, online scams and data security are making many consumers more cautious. And it’s not just the older generations. Younger consumers are increasingly aware that what is seen online shouldn’t always be believed. Questions such as where personal data is held, how it is used and whether it is genuinely secure are increasingly front of mind. As a result, established brands and trusted advisers continue to play a vital role in providing reassurance at key moments.
This is why it is important not to underplay the value of advice. Advice is not a barrier to efficiency, nor is it the cause of lengthy transaction times. In many cases, borrowers can speak to an adviser and receive a mortgage offer within days. The longer timelines typically associated with homebuying sit elsewhere in the process – slow conveyancing and sluggish chains.
Technology, when used well, can absolutely improve outcomes. Open banking and responsible data-sharing between legitimate participants have the potential to support quicker decisions and more accurate assessments of suitability. For advisers, technology already helps refine product searches and navigate increasingly complex lender criteria, particularly as the specialist market continues to grow.
However, efficiency alone should never be the sole driver of change. There is a clear educational responsibility for the industry to help consumers understand what technology can assist with — and where its limitations lie. We should not assume that everyone wants to approach a mortgage in the same way they approach an online retail purchase.
There may be situations where non-advised or limited-advice routes might work in simple scenarios, such as straightforward product transfers. A property purchase, particularly for a first-time buyer, is very different. Many consumers simply do not know what they do not know. This is where professional advice adds real value, helping people understand not just the mortgage they can take today, but the implications of that decision over the years ahead.
Professional mortgage advice is not simply transactional support; it is skilled judgement, rooted in experience, accountability and a deep understanding of individual circumstances. It brings challenge, context and foresight in ways that technology alone cannot replicate, for the time being anyway!
Advisers act as trusted “critical friends”. They ask questions about future plans, affordability pressures and potential life changes. They challenge assumptions and help clients think beyond headline rates. Often, the relationship between adviser and client is closer and more enduring than with other parties in the transaction. It is therefore unsurprising that FCA figures show around 60% of consumers would not feel confident choosing a mortgage on their own.
As AI-driven and limited-advice solutions continue to develop, clarity will be essential. Where advice is constrained, those constraints must be clearly explained and understood. Consumers should always know what a service can — and cannot — do for them.
The future of the mortgage market is not about choosing between people and technology. It is about combining both thoughtfully and responsibly: using technology to create smoother, more efficient journeys, while ensuring professional advice remains central to protecting consumers and delivering strong, long-term outcomes. That balance will define the future of our industry, and it is one we must approach with care, confidence and clarity.