Trigold’s direct deals may boost broker fees

Trigold\'s plan to list direct-only products could provide brokers with a justification to charge fees for their advice.

One broker, who wishes to remain anonymous, says the ability to source direct-only deals will show clients that brokers are looking at products across the whole market.

He says: “Brokers should be able to source direct deals if they want to be called independent. If they can show that by recommending a direct deal they can save a client money they will not only secure that client’s business but also referrals.”

Research by Trigold, which plans to display direct products by the end of Q1 2009, shows that only 19% of its brokers want direct deals displayed. This is despite some 33% of brokers planning to advise on direct products in the future.

David Aylmer, business development and marketing director at Trigold, says: “It’s important that the display of direct products is not the default view but that brokers can add them to their screens.”

Mark Lofthouse, chief executive of Mortgage Brain, says listing direct products may not be easy.

He says: “We have researched this idea and are considering doing it, but most of the lenders we have asked for information about their direct products are not prepared to give us details.”