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Lenders’ dual pricing system will lead to loss of volume

Lenders have been accused of mistreating packagers by operating a dual pricing system for direct-to-broker and packaged products.

Roger Morris, managing director of em-financial, told delegates that lenders have developed the practice of dual pricing because they don’t understand what packagers do and the value they add to the mortgage chain.

Morris also suggests that the practice might lead to lenders losing volume.

He says: “As a distributor I may reach a point where I have to choose between a lender that operates dual pricing and one that does not, to go on my panel. It’s more likely that I will choose the lender that doesn’t operate a policy of dual pricing.”


Pain and Maltby to serve second CML term

The Council of Mortgage Lenders has confirmed that chairman Jon Pain and deputy chairman John Maltby will serve a second term in their respective positions in the trade body. The confirmation came during a meeting of the CML’s executive committee, Pain is the managing director of Cheltenham and Gloucester while Maltby is chief executive of […]

MT awards night set for March 7

The Mortgage Times Group will host its second annual awards ceremony on March 7 this year at Claridges in London.

Mortgage Match launches website

Mortgage Match, Nottinghamshire, has launched a new website as part of a long term Information Technology strategy. Functions include an active online “application in principle” form, comprehensive downloadable documents, links to all panel lenders’ websites and information services for brokers to place and process mortgage and secured loan applications.Mary Kavanagh-Jones, director of Mortgage Match, says: […]

NR may pay retention proc fees

Northern Rock may bow to peer pressure by paying brokers proc fees for home movers, as part of a customer retention drive.

Stop letting targets get in the way of delivery

The positivity at RESI was pleasing to see, with lots of encouraging discussion about the private rented sector (PRS), the possibility (or hope) of stamp duty cuts on the way in the Autumn Statement and the general prospects of residential property in this post-Brexit vote world. However, that positivity was often tinged with some negativity […]


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