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Big five brokers form £10bn mortgage alliance

Five of the UK’s mortgage broking giants have joined forces to form a consortium to give them the clout to negotiate cheaper deals with lenders and increased proc fees.

Alexander Hall, Chase De Vere Mortgage Management, Cobalt Capital, Hamptons International Mortgages and Savills Private Finance write £10bn worth of business a year between them and hope combining this might will also encourage better service from lenders.

The collaborative, called Concordia, which is Latin for harmony, will be chaired by Alexander Hall chief operating officer Andy Pratt.

For more information, read this week’s edition of Money Marketing.

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