Cutting out brokers means consumers get a poor deal

I am writing with regard to Kevin Mit-chell\'s recent letter about Woolwich deals that are not available to brokers (Mortgage Strategy April 21).

Several other lenders also operate similar policies but this practice is questionable under the Treating Customers Fairly initiative.

Brokers have a special niche in the marketplace in that we are not usually tied to particular lenders’ products.

We can give consumers independent advice and clients come to us for this service because they don’t have the time or capability to search the whole market themselves.

Generally speaking, brokers have a good understanding of their clients’ circumstances and can source the most appropriate products for them from across the market.

Without access to these products via brokers, it seems clients are being discriminated against because they are using our services.

These lenders are operating what amounts to a cartel, taking advantage of the fact that competition has almost disappeared from the market.

This is a change from the recent past when brokers were seen as a cheap way for lenders to increase their market penetration.

Alan Campbell
Inglenook Financial Services, Liverpool