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Authorities should investigate lenders’ dual pricing stance

I’d like to see the FSA target lenders that use dual pricing with rates and fees, and question their Treating Customers Fairly policies.

It does not cost lenders such a huge difference in fees and rates to allow new borrowers to come to them via brokers.

In fact, it was always stated that it cost lenders less to process broker-introduced cases as most of the work is already done for them and brokers cover their own overheads.

The broker community would not suffer as much if all lenders’ rates were the same, irrespective of application route.

This is a manipulation of the market by banks and it should be addressed by the government and the FSA.

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