JEREZ 2006: Lenders to grab market from brokers

Brokers were warned today at the Jerez Mortgage Summit that lenders will be looking to take away some of their market share.

Tim Hague, director BM Solutions says that brokers do play an important part in the future distribution of products and that the current 60:40 distribution through brokers and lenders is set to grow.

However Kevin Duffy, managing director at Hamptons says it is more like a 75:25 distribution in favour of the brokers, and lenders will not be happy with this.

He says: I think that some lenders will not be happy about the amount of business going through intermediaries and in the next 12 to 24 months they will be looking for ways to increase their market share through direct distribution.