After reading Nationwide’s comments claiming that brokers are encouraging clients on to fixed rates, I noticed another story on Mortgage Strategy Online where the lender has increased the price of its fixed rates.
With fixed rates like these, customers can only afford to stay on low trackers and SVRs.
Brokers do a great job for many people wanting mortgage advice – a far better job than lenders’ direct sales staff, who are targeted on sales and churning.
I hope that Nationwide makes a formal written apology addressed to the intermediary community.
This is the community that has sent it clients and business for many years and whose members’ earnings have dropped more than 70% but who continue to stick it out to make clients happy with good advice.
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