It has led to the launch of the Broker Collective, an organisation aiming to ensure clients and mortgage brokers are treated fairly by lenders, which has called on lenders to provide a minimum notice of 24 hours before discontinuing any mortgage product.
But Hussain says: "I think the workaround for lenders would be to just pull the rates first thing in the morning. That way the sourcing systems can update throughout the day and we know those deals have been pulled.
"It takes a bit of work from our trade bodies and lenders to get on board. I think that's what needs to happen."
For now, he says, he likes to work on a basis of "what if?", demonstrating to clients what it would cost if rates moved, rather than chasing rates.
"Rate shopping now is a pointless exercise because no one's guaranteed that rate until the full application is in," he says.
A good time to learn
In contrast to when he started out in 2014, today's market is characterised by a multiple hurdles, says Hussain, meaning borrowers are having many more considerations to deal with than they did back then.
"We've had cost of living, utilities going up, food's gone up, but we've also then had mortgage rates – whereas in 2014, the only thing that really changed was people now having to prove [via] their income that the mortgage was affordable."
Hussain entered financial services after a manager at his retail job suggested this as a suitable career option due to his love for working with people.
Following university he joined a corporate firm's trainee scheme, but soon realised a corporate environment was "not a place that you can stay forever".
"I love giving advice. Climbing the greasy pole of a corporate isn't for me," he says.
He maintains it was the best training he could have had, but warns that the industry now has a problem attracting fresh talent.
This is partly because of the stresses that come with the job, especially in the current environment, but also because there's more money to be made in other industries.
"It's probably not the best time to enter now but if somebody is looking to enter the industry, it's probably a good time to learn things," he says.
Hussain says the next 12 months will remain challenging and that the mortgage broker trade body should step up to help brokers thrive.
"I'd love for our trade body to maybe speak to lenders and get procuration fees increased because it would help with remuneration for advisers, but my outlook on the market is that we'll still be needed. There is still a market, but it's not going to be as buoyant as it was during lockdown."
