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Dual pricing is no longer a threat to brokers, says AMI

The Association of Mortgage Intermediaries says dual pricing no longer poses a serious threat to the broker market.

Robert Sinclair, director of AMI, says that although dual pricing still exists, lenders have been moving towards a more level playing field since last April.

He says: “Some banks are implementing dual pricing policies and there are still examples of significant differentials in the market, but most have either eradicated or reduced the gap to a reasonable level.

“Lenders should be aware that dual pricing puts brokers in a difficult position when they are in discussions with customers, whose interests they must obviously put first.”

But Andrew Montlake, partner at Cobalt Capital, says that while dual pricing is not as bad as it has been there are worrying signs of it creeping back.

He adds: “I understand why lenders have to do a certain amount of business through their own channels but it is a serious mistake to exclude brokers.”


Flexible PPI product launched

Payment protection insurance provider MMS has launched a product designed to address some of the criticisms aimed at the sector by the Competition Commission.

Stars shine in the darkness

2008 was probably the toughest year many in the mortgage sector have experienced. With the wholesale markets closed, lending has pretty much ground to a halt and the impact on firms in the intermediary sector has been challenging to say the least. Many brokers who contact Mortgage Strategy are wondering when the next customer they can actually help is going to walk through their door.


Employer iPMI responsibilities could continue to escalate, says Jelf

New laws in Dubai will put the burden of providing international private medical insurance (iPMI) firmly on the shoulders of the employer in order to maintain the country’s leading healthcare facilities. With 10,000 UK nationals having moved to the country since 2007 and only 16.5 per cent of the total 8.2 million people living there being Emiratis, Jelf Employee Benefits believes this move was inevitable and employer responsibilities could continue to escalate in future.


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