Mis-sold Mortgage Claims > Mortgage News
Independent mortgage brokers have the edge over direct lender advice in 2011
Tue, 18 Jan 2011
Mortgage rates continue to increase as lenders battle with direct to borrower deals, and "dual pricing" is still an issue for mortgage brokers who offer independent advice. Recently, Halifax launched a 90 per cent loan to value (LTV) mortgage which was only available from their branches. The news that lending at this LTV was being made available was generally welcome; however, many industry experts believe these deals should be sold through intermediaries who are able to counter the "mediocre performance" of a direct lending channel.

Kevin Duffy, managing director of Mortgage Force, believes this strategy adopted by lenders will with time during 2011, play into the hands of mortgage intermediaries . He also expressed his views on how "majoratively branch based lender staff are light years away from the caliber of independent brokers ."

HSBC were also singled out by Duffy as a lender who in 2010 under achieved in its fight for market share against independent brokers, who were undercut on rates. Products were sold direct to borrowers who endured "flaws in its game, service standards being one."

Duffy forecasts that independent brokers will see a turning point in the last two quarters of the year and borrowers will be offered the service that many believe is best for them.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.