"Our decision to sign the charter isn’t just about being there for our own employees, but supporting the well-being of mortgage professionals across the sector."
Saffron for Intermediaries is the latest firm to sign the Mortgage Industry Mental Health Charter.
2023 was a tough year for mortgage professionals, with a volatile mortgage market and higher interest rates giving rise to a great deal of uncertainty and difficult decision making for brokers and lenders. With rates coming down in 2024, those working in the mortgage industry will now face the challenge of dealing with increasing levels of activity as borrowers try to secure a good deal. In addition to this, mortgage professionals can often be affected by the emotional stress of ensuring they are supporting vulnerable clients as best as possible. Despite all these pressures, current frameworks for supporting well-being and mental health in the sector are often lacking.
The Mortgage Industry Mental Health Charter is designed to address these issues. A voluntary commitment, those who sign the charter agree to support better mental health in the industry and:
o Develop mental health awareness among employees using activities and advocacy,
o Encourage open conversations about mental health and support employees who might be struggling,
o Provide employees with good work conditions that encourage a healthy work life balance and opportunities for development,
o Promote effective people management through line managers and ensure there is a focus on physical and mental well-being as well as performance,
o Routinely monitor employee mental health and well-being through surveys and regular contact with managers,
o Have a named contact for Mental Health Support.
The Mortgage Industry Mental Health Charter recently achieved its 100th signatory.
Becoming a signatory to the charter is the latest initiative from Saffron for Intermediaries to better support the mental health of its employees and other industry stakeholders. Other initiatives include regular mental health drop-in sessions run by Saffron’s eight mental health first aiders, the opportunity for all managers to complete mental health training with First Aid England, an employee assistance programme, and events such as ‘bring your dog to work’ day.
Tony Hall, head of business development at Saffron for Intermediaries, commented: “While, the impact of higher interest rates and the cost of living crisis on borrowers over the last year have been widely acknowledged, the well-being challenges faced by mortgage professionals are much less talked about, but just as relevant
“At Saffron, we pride ourselves on being a happy place to work, and supporting mental well-being is at the centre of that. However, our decision to sign the charter isn’t just about being there for our own employees, but supporting the well-being of mortgage professionals across the sector. We hope that by increasing awareness and talking about these all too often taboo topics, we can encourage more industry stakeholders to work together to make our industry an enjoyable and rewarding place to work for everyone.”
