View more on these topics

High street lenders fail consumers, says The Mortgage Lender


British consumers think high street lenders do not give value for money and that mortgage brokers are more likely to get better deals, according to The Mortgage Lender. 

TML surveyed 2,000 consumers and found almost two thirds thought high street lenders are failing borrowers with more complex circumstances, such as those with multiple income sources or rental income.

Nearly three quarters of those who took part said refusing to lend to someone simply because they were self-employed or had multiple incomes was not fair.

The survey also found three times as many people believe they can get a better deal from a mortgage broker than a high street lender. 

 The Mortgage Lender also found consumers believe large lenders rely too much on computers to make lending decisions.

Two out of three said this meant many lenders are failing to help people based on individual circumstances. 

The Mortgage Lender sales and marketing director Pete Thomson says: “These results are quite damning.

“Mortgage brokers can identify the right lender and the best deal for any circumstance, that’s clearly something people recognise and value.”





High Street banks still can’t cater for complicated clients

Since acquiring a Kindle tablet in 2012, my life has become increasingly dominated by Amazon. The range of products and availability of stock is remarkable and I applaud their foresight in combining both product range and sales platform so sweetly. Few other retailers get a look in these days and that’s unfortunate.  Every now and […]


Can alternative lenders fill the gap left by high street banks?

Next week Shawbrook Bank is sponsoring the NACFB’s Commercial Finance Expo, where I’ve been asked to join a panel debate to get to the bottom of a question that the industry has been asking for some time – can alternative lenders ever fill the gap left by the high street banks?

High street woes propel bridging towards peak

The bridging sector is forecast to hit £1.5bn by the end of the year, although some believe the market is close to its peak. Last week West One Loans claimed the value of the industry has broken the £1bn barrier for the first time and is set to reach £1.5bn by the end of 2012. […]

Infographic - thumbnail

Infographic — health cash plans 2014

Health Shield has strengthened its position in the cash plan market, according to the latest Laing & Buisson report, increasing its market share by income from £27m in 2012 to £29m in 2013. The Health Cover UK Market Report 2014 revealed that the non-profit-making Friendly Society was the only provider in the top four to have increased its market share by income over the past year. Health Shield was also the only cash plan provider in the top four to have increased its market share by income every year for the previous five years. This infographic presents the figures.


News and expert analysis straight to your inbox

Sign up