Moneysupermarket.com retracts its direct only stats

Moneysupermarket.com says it supports the broker market and has withdrawn its statistics that claim 90% of mortgage products are currently available direct.

It released the figures over the weekend but says it is reviewing the statistics because it may not have included some broker only deals in its calculations.

A spokesman for Moneysupermarket.com, says: “We do support the broker market and think they are vitally important. The press release was not intended to cause offence to brokers but was meant to emphasise that some consumers who are used to going to a broker will not be aware of how the market has changed.

“But there are a couple of broker only deals we were not aware of and because of the broker reaction we have received we are reviewing the stats and have withdrawn the press release.”

Kevin Mountford, head of banking at moneysupermarket.com said that whilst some people will always want advice from an intermediary, this should be seen as part of the shopping around process rather than the final word in mortgage products, as consumers who fail to shop around will no doubt miss out on the best deals available.