Dual pricing has caused chaos in the marketplace

I am writing to point out that there is no longer any such thing as meaningful management information in the mortgage market.

This is because brokers recommending direct deals in their clients’ interests are not counted as introduced cases, even if the brokers involved are inputting the data themselves.

Also, there is no such thing as meaningful regulation in the current marketplace, except where clients are using brokers for introduced cases.

Even then it is possible that brokers could be treating their clients unfairly by knowingly recommending expensive products when there are cheaper deals available direct on a non-advised basis.

This is far from being a regulated market. In fact, it is in a state of chaos and has been so since brokers were prevented from broking in any meaningful sense of the word by the introduction of dual pricing by lenders.

The situation is made no better by the FSA’s lamentable defence of this practice.

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