Mortgage lenders desert brokers-where will you turn?

Mortgage lenders desert brokers-where will you turn?


The Manchester Mortgage Business Expo gave many things to report on, but most distinct was the sheer lack of mortgage lenders. Most brokers we spoke to felt the statement by the lenders was clear- they do not have the intermediary’s interests at heart and don’t feel the need to fight for their business.

It was no surprise then that the stands were made up of alternatives to mortgage selling- be it secured loans, debt management or bridging loans. Bridging saw a large proportion of the stands and most proved popular as brokers are starting the see past the myths and look at the bridging market as a viable alternative to supplement an income. With the introduction of the ASTL intermediaries can be more assured that bridging loans are regulated. Brokers as a whole are starting to see that to keep plugging mortgage sales really is flogging a dead horse. Whether they like it or not, it is areas such as bridging that will become intrinsic to keeping business alive.

Lucy Trueick

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