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Competition is good but quality counts


Competition is a vital component in any market conditions so it was good to read that the number of live mortgage schemes available to brokers has climbed to its highest level in two years.

Figures from Mortgage Brain’s monthly product analysis suggest a 5% increase in product availability in October led to the number of live mortgage schemes on its sourcing system rising to 7,654.

The analysis shows that most of the improvements of the last two years have occurred in the past 12 months, with 4,432 deals introduced in the last year alone.

But brokers are still concerned about dual pricing. This remains a thorny issue but one that most brokers have dealt with pretty well.

As a lender committed to a non-dual pricing stance we value broker-based distribution and we have worked hard to canvas opinion on how best to service it.

Brokers need access to providers that have good quality products with no hidden catches. They also need reliability, consistent service, a fair reward and good levels of support to see clients’ mortgages to completion quickly and seamlessly.

No lender can claim to get this right all the time but hopefully competition will continue to drive the broker market forward.

But while it’s good to see product numbers rising it is quality as well as quantity that will make the difference and it is this flight to quality that lenders faithful to the intermediary market must continue to strive for.


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Lending growth will not solve market ills

Latest Bank of England figures show that mortgage approvals in September remained almost level at 47,474 compared with August. Net lending in the same period dropped. Having predicted at the end of September that the figure would stand at 48,245 loans, our statistical wizards should be feeling reasonably smug to be within 1.6% of the […]

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Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.


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