MAB brokers get opportunity to charge for advice
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In a bid to tackle dual pricing Mortgage Advice Bureau is giving its brokers the chance to opt into a fee- charging model.
Brokers are being asked to decide whether they want to offer whole-of- market advice and charge a fee of around £300 or offer broker-only deals.
Peter Brodnicki, chief executive of MAB, says so far 45% of its national broker base has opted for the fee-charging model.
He says: “We are training our brokers on how best to sell the services they offer. A lot of clients do not know how much work brokers do for them.
“If customers choose a direct-only deal our brokers go through the application form with them, discuss the risks and offer them advice and other options if it falls through.”
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