For example, Woolwich currently has a 60% LTV lifetime tracker available at base rate plus 0.79% with no redemption penalties or fees, but this can only be arranged direct with the lender.
At the time of writing, the best lifetime tracker from Woolwich that brokers can access is available at base rate plus 1.59% and carries penalties for the first three years. How is this fair on brokers looking for the best deals for customers?
I know it’s been always the case that customers get different products di-rect from lenders but this situation is getting worse.
The leader column in the same issue lays out the benefits of using brokers but brokers are becoming less reliable when it comes to providing the best deals for customers.
The way brokers are being treated is shameful. So come on lenders, give us a break – you may not think we are important at the moment but there will come a time when you need us again, so please start treating brokers fairly.