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Brokers rule and lenders will soon be crawling back

The news that two-thirds of all mortgages now come via brokers will hopefully stop some of the negative comments that have been going round and also stop a lot of brokers from throwing in the towel.

Brokers have proven to be vital for clients in selecting the most appropriate deals, not just the cheapest headline rates.

This situation is likely to continue for a long time, with broker-introduced mortgages dominating the market.

Lenders know brokers offer them the best route to market and will come crawling back soon. Longer term, the dual pricing, non-advised ’sell at all costs’ direct attitude of banks may turn out to be a blessing in disguise.

When clients realise their bank did not provide the best deal they will be forced to seek advice from an independent broker, the only person able to give whole-of-market advice. Here’s to the future.



Lenders pay a high price for ignoring the broker channel

It was good to see the story last week that brokers now account for almost two-thirds of all mortgages (Mortgage Strategy Online). I hope lenders see these figures and realise the implication of shutting off a distribution channel as powerful and of such high quality as intermediaries. I hope Mortgage Strategy publishes research based on […]


Aldermore opens for business on Monday

Aldermore, the new intermediary residential and buy-to-let mortgage lender, will be opening its doors for business on Monday, following the successful completion of its systems testing programme.


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