How embedded payments can help mortgage brokers get paid faster

This guest blog is brought to you by Emma Breadmore, Senior Partner Relationship Manager at Cashflows

When people make one of the biggest purchases of their lives, some smaller expenses can get overlooked.  

With the average UK house price around £267,500, it’s understandable that some might forget or put off the fee owed to their mortgage broker, even though that fee is essential to keeping brokers in business, and the service has been delivered. Brokers often have to chase clients for payments during a stressful time, which could strain relationships and discourage repeat business or referrals. This is further complicated by outdated payment methods. Card readers work for in-person meetings, but for remote transactions, clients could be left to make bank transfers, which are often delayed or forgotten.

However, finova Broker’s CRM now has an integrated system where payments can be taken safely and in real-time, directly within the client’s record. Created with ourselves at Cashflows, our embedded payments feature changes the status quo by making payments a seamless part of the mortgage process, helping brokers get paid faster while delivering a smoother client experience. Win win for everyone.

The challenge of collecting fees

For many mortgage brokers, delays in receiving payment go beyond inconvenience. Late payments create cash flow issues, adding financial stress and disrupting the ability to operate effectively. Traditional payment processes, like sending invoices for bank transfers, often result in lengthy delays and demand extra time and resources for follow-up. This administrative burden takes time away from client acquisition and other essential activities.

Clients, too, often find traditional payment processes inconvenient. With most services today offering fast, straightforward digital payment options, being asked to remember bank details or complete transfers for a mortgage fee can be frustrating. This can create a negative impression, potentially impacting the broker-client relationship.

How do embedded payments work?

finova Broker’s CRM now eliminates these hassles by integrating payments into the client’s journey. Brokers can send a digital payment request directly from the CRM, enabling clients to pay online through a secure, user-friendly interface. This allows clients to pay instantly, either on a mobile device or computer, with no need for bank transfers or complicated details. If, as is increasingly the case, the client is one of the two-thirds of home buyers who get help from their parents, then the payment link can easily be sent to them instead.

Now, brokers can simply send clients a link or notification that directs them to complete the payment. This streamlined experience greatly reduces the chance of missed payments, making it simpler for both brokers and clients.

Key benefits for brokers

1. Faster payments
   Brokers can bypass the delays and challenges of traditional payment methods. Clients can pay instantly through the CRM, helping brokers receive payments faster and reducing the need for follow-up.

2. Improved client experience
   The ease and convenience provides clients with a better experience during a stressful time. Making the payment process simple reflects well on the broker’s professionalism and can strengthen client relationships, leading to more repeat business and referrals.

3. Reduced administrative burden
   Traditional payment collection methods can be cumbersome, involving multiple steps and follow-ups. With finova Broker’s CRM, payment collection becomes a one-step process. Brokers receive notifications when payments are completed, eliminating the need for manual tracking and follow-up. This efficiency frees up time for brokers to focus on more profitable activities, such as client acquisition and relationship-building.

Why embedded payments are the future of mortgage payments

As digital payment options continue to evolve, clients increasingly expect convenience and speed. Through our partnership with finova Broker, these expectations are met, allowing mortgage brokers to deliver a seamless payment experience that feels intuitive to modern clients. Our combined expertise and technology is especially valuable for mortgage brokers, where timely payment is essential to maintaining a smooth client experience.

What’s more, brokers can manage the entire client journey—from initial contact to payment—on a single platform. This all-in-one approach increases operational efficiency, ensuring that clients receive a streamlined, professional experience that meets the high standards of today’s homebuyers. We’re also providing a strategic step toward a more efficient, competitive, and modern business model.  

Learn more about Cashflows on their website.

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