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Low commission and high LTVs top brokers’ woes

A total of 57% of mortgage brokers feel commission has fallen in the last 12 months, research from short-term lender Borro reveals.

A survey of 454 brokers at this month’s Mortgage Business Expo also found that nearly 40% of mortgage brokers thought high LTVs were the biggest hurdle in 2010.

Six in 10 respondents thought the market would not improve next year and 13% felt high house prices had been the biggest challenge of the past year.

Paul Brett, business development director at Borro, says commission has fallen due to fewer products and lenders in the market.

He says: “There is no need for len-ders to encourage business through commission at the moment, plus more brokers are charging their clients fees, which has had an impact on commission.”


FSA is still missing the point – it should insist advice is given

With regard to the FSA’s latest stipulation that anyone involved in the sale of a mortgage should have a Level 3 qualification, surely it is still missing the point. All face-to-face mortgage sales should be advised, whether by a broker or a lender. Obviously, to give advice advisers must have CeMAP or its equivalent, so […]


Nominations are in for November

The shortlist for Novem-ber’s Top Of The League, in association with Woolwich Mortgages from Barclays, have been unveiled. The nominations for player of the month are David Norfolk of Alexander Hall, Matt Scott of McGirls Money Management, Malcolm Dunn of Mortgage Matters, Howard Levy of Savills Private Finance and Jaqui Gardner of Gardner Independent. Manager […]

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Infographic — health cash plans 2014

Health Shield has strengthened its position in the cash plan market, according to the latest Laing & Buisson report, increasing its market share by income from £27m in 2012 to £29m in 2013. The Health Cover UK Market Report 2014 revealed that the non-profit-making Friendly Society was the only provider in the top four to have increased its market share by income over the past year. Health Shield was also the only cash plan provider in the top four to have increased its market share by income every year for the previous five years. This infographic presents the figures.


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