Introduction
If you work in the mortgage industry and associated sectors including surveying, or conveyancing, it might feel like “AI” is a term that lives in tech conferences or Silicon Valley boardrooms. It’s there but not it’s not really your problem yet.
The reality is somewhat different. It’s already here and even if they don’t consciously know it, it’s in your clients’ expectations, in your competitors’ workflows, and even inside the systems used by regulators and professional bodies.
Should we adopt AI and how quickly can we learn it, before we’re left behind?
The global picture — billions being spent
Amazon, Microsoft, Google and Meta are forecast to spend over $300bn on AI infrastructure in 2025. That follows $246bn in 2024 capex across the four, which equates to a 63% increase year on year.
Globally, 78% of organisations reported using AI in 2024, up from 55% in 2023. Private investment in generative AI alone reached $33.9bn in 2024.
When the world is moving this fast, the effects inevitably ripple into our industry. Brokers, lenders, valuers, and even one-person firms will soon be operating in a marketplace reshaped by tools built on this infrastructure.
The UK’s position — falling behind
A survey by Hays, reported in The Times, found that only 29% of UK employers encourage staff to use AI, compared to 59% in the US. Just 37% of UK firms offer AI training, leaving most employees to figure it out themselves.
For small businesses, including most mortgage firms, this gap matters. Larger firms or overseas rivals will be able to serve customers faster, more cheaply, and with fewer errors. Clients will notice the difference.
AI is already in our industry
This isn’t about “future tech”. AI is already part of property and finance today.
- HM Land Registry is using AI to compare documents, improving accuracy and processing speed. The solution, developed with Kainos, was recognised at the 2024 AI Awards.
- RICS has issued its first global professional standard on responsible AI use in surveying, effective from 9 March 2026.
- Mortgage brokers are experimenting. A Mortgage Solutions poll in September 2025 found that nearly a third of brokers use AI tools very often.
These are real examples in the same industry you work in.
What happens if you don’t upskill
The Department for Science, Innovation and Technology (DSIT) published its Technology Adoption Review 2025. It highlighted three major barriers for UK SMEs:
- Skills gaps: teams don’t know what to use or how to use it safely.
- Legacy systems: clunky platforms that don’t integrate easily with AI tools.
- Cyber concerns: fear of data misuse or breaches.
The report concluded this is creating a “competitiveness gulf” between SMEs and larger firms.
For brokers and advisers, ignoring AI could mean:
- Competitors processing applications faster.
- Clients drifting to firms with slicker digital service.
- Higher cost per case compared to rivals using AI for admin and compliance.
Doing nothing is not neutral. It’s a step backwards.
What AI can and can’t do in mortgages
It’s important to cut through the hype. AI isn’t about replacing advisers, underwriters, or surveyors. It’s about handling repetitive, data-heavy tasks so people can focus on judgement and relationships.
What AI can do today:
- Summarise client fact-finds and create case notes.
- Flag missing documents in applications.
- Generate first-draft client communications or marketing copy.
- Compare property documents for errors or mismatches.
What it can’t do:
- Understand nuance in a client’s personal circumstances.
- Replace professional judgement on lending suitability or valuation.
- Carry regulatory accountability.
Think of it as a co-pilot, not a replacement.
The compliance and governance angle
Risk and compliance remain key concerns. That’s where industry guidance helps.
UK Finance published its AI Baseline Guidance Review in 2025, setting expectations for governance, third-party risk, and staff education. In practice, that means even small firms using AI should have clear policies.
That might involve:
- Training your team on what’s acceptable.
- Ensuring client data isn’t fed into unsafe platforms.
- Checking outputs carefully before they reach clients.
Upskilling isn’t just about productivity. It’s about protecting your ability to operate, compete and provide the best customer outcomes.
The opportunity for small firms
The good news is, AI isn’t only a big-bank game. Small firms often have the advantage. With less bureaucracy and closer client contact, they can trial tools and build workflows quickly.
Imagine being the broker who always sends clients a neat, AI-polished mortgage summary the same day as a call. Or the surveyor who delivers reports 48 hours faster because AI handled the formatting.
These marginal gains add up. They make you the firm clients recommend.
How to start — without spending big
You don’t need a huge budget to get going.
- Begin with free or low-cost tools: ChatGPT, transcription software, or AI plugins for your CRM.
- Use AI for non-regulated tasks first: no regulated marketing, meeting notes, internal checklists.
Think of it as a learning project. Upskill in small steps.
A mindset shift
The biggest barrier isn’t cost or even regulation. It’s mindset.
Many advisers, lenders and conveyancers still see AI as a threat or a fad. But technology doesn’t go backwards. Once tools exist, they only get cheaper, faster and more integrated.
The firms that win are those who learn early, experiment safely, and build capability over time.
Conclusion
AI isn’t a buzzword floating around tech conferences. It’s in your clients’ world, your regulators’ guidance, and your competitors’ workflows.
In 2025, ignoring it is a strategic risk. Upskilling, even in small steps, is the only way forward.
The question isn’t “Will AI change the mortgage industry?” It’s “Which firms will adapt quickly enough to stay relevant?”
