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Nationwide stops guarantor deals through brokers

Nationwide for Intermediaries no longer offers guarantor mortgages via brokers as of last Friday.

Its guarantor deals will be directonly and brokers will now have to go through The Mortgage Works brand.

A Nationwide spokesman says: “Nationwide continues to be supportive of the broker market with a specific range of intermediaryexclusive
mortgages – TMW Prime.”

But Aaron Strutt, communications manager at Trinity Financial Group, says the rates are worse for TMW.

He says: “The TMW deals have 1% arrangement fees and early repayment charges on fixed deals are 5%. The direct deals won’t have that
5% penalty.”

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AARON STRUTT, COMMUNICATIONS MANAGER, TRINITY FINANCIAL GROUP

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