The future of the mortgage broker
06 July 2009
Online mortgage broker portal, mortgage solutions has reported that at its British Mortgage Senate, key figures from mortgage lenders debated the future of intermediaries within the mortgage market. Despite the delegates agreeing that mortgage brokers fulfil an important role, they couldn’t agree on the future share of the market for brokers, although figures of around 50% were quoted.
Many of the delegates commented that consumers need more advice in the current market and will continue to do so as mortgage volumes start to increase. There we also comments from industry representatives that UK consumers are moving from “price to advice”.
As we have stated in the past, mortgage brokers provide an invaluable service the benefits of which we detailed in our recent post Why do I need a mortgage broker? As a mortgage broker is not tied to a particular lender, he can offer impartially advice and make a recommendation based upon all the mortgages available - something staff at a bank can never do.
Last Updated: Tuesday, 07 July 2009 10:07:06