It’s clear that lenders will soon have to realise that using mortgage brokers as a distribution channel is an effective way of increasing market share. Having more branches is not profitable.
I’m still amazed at the number of lenders dual pricing. They should offer the same rates to brokers as that way they could cover all the angles of distribution at a lower cost.
Brokers are frustrated because they feel they have introduced a lot of new clients to lenders without support.
You only have to look at the examples of Barclays/Woolwich and Santander/Abbey for Intermediaries to see why these lenders are still supporting brokers and getting results.
AVENUE & CO PRIVATE FINANCE