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Broker-direct fixed-rate price gap widening

The price difference between the average direct and intermediary two-year fixed-rate mortgage has shot up by 69 basis points in the past year, says Moneyfacts.co.uk.

The average intermediary two-year fixed rate is now 73 basis points more expensive than the average direct two-year fix, at 5.03 per cent and 4.3 per cent, respectively. A year ago, the gap between intermediary and direct two-year fixes was four basis points, at 4.51 per cent and 4.47 per cent respectively. The differential peaked at 85 basis points in March, when the average direct and intermediary deals were 4.05 per cent and 4.9 per cent respectively. The differential between two-year trackers is only 3bps compared with 4bps a year ago, with the average direct deal at 3.8 per cent and the average intermediary deal at 3.83 per cent.

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