Countrywide boss Grenville Turner’s comments about the intermediary sector are strange considering his position, but I think I understand what he’s trying to say. There should be a market for direct and introduced business but lenders must drop dual pricing.
My recent experience indicates that introduced cases do not get good service compared with direct ones.
Lenders must decide whether they are in or out of the broker market. If they choose to withdraw they should not use their usual stealth tactics and say there is no market for their products.
If a new provider was to come out with competitive rates and good service, taking only broker business, it would clean up.
But for now it seems that lenders are more interested in selling credit cards, insurance and current accounts.