View more on these topics

Direct products overshadow number of broker deals

Broker-only products available at over 80% LTV represent just 21% of the products on offer across direct and broker channels, figures from Home Buyer Systems reveal.

The data also shows that over 75% LTV broker products account for 30% of all available direct and broker deals.

The total number of broker products available represents 42% of the market as a whole.

Home Buyers Systems launched the HBSLite system, which offers whole of market sourcing, a year ago.

Richard Angliss, managing director of Home Buyer Systems, says brokers need to be able to access direct deals to gain access to the entire market.

But he says: “Very early on we learnt that simply providing direct products causes more problems than answers.

“What was required was a sales process to ensure if a direct product was going to be recommended then advisers must be able to earn at least as much as if they were paid a proc fee.

“We have worked with our customers to build that sales process from which they are now profiting.”


Borrowers face a tough decision

I’m sure it did not come as a surprise to many industry experts that the Bank of England held the base rate at 0.50% this month.

FSA increases FSCS limits

The Financial Services Authority is to increase the compensation limits for insurance, investment and home finance advice business in the event of a firm failing.

Woolwich pulls some long-term deals

Woolwich reduced a number of its tracker rates last week but offset this by pulling or hiking rates on some longer term fixed deals.


News and expert analysis straight to your inbox

Sign up