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Brokers may lose more market share to the banks

Precise Mortgages managing director Alan Cleary says mortgage brokers’ market share will continue to fall in the next 12 months as banks spend millions of pounds on advertising to lure direct customers.

The latest FSA mortgage product sales data, published last week, shows the proportion of mortgage sales through intermediaries fell to 47 per cent in the first quarter of this year from 49 per cent in the first quarter of 2010.

A YouGov survey commissioned by Precise in May asked 2,113 mortgageholders how they would research a mortgage if they were to apply in the next 12 months. Only 44 per cent, said they would use an intermediary.

Cleary says: “Brokers are better placed to advise customers about mortgages as they offer a much wider product range.”

Lentune Mortgage Consultancy director Stuart Gregory says: “I am not too concerned about our market share because the service the banks and building societies provide is so poor.”


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Mott looks to large caps for income

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Swift Trade challenges regulator’s £8m ruling

The FSA has fined trading platform Swift Trade £8m for market abuse. It says the firm, which is a non-FSA-authorised Canadian company with global operations, has been fined for systematically and deliberately engaging in manipulative trading. The FSA says between January 1, 2007 and January 4, 2008, Swift’s trading caused a succession of small price […]

Choose life…

Sarah Scott  – Marketing Consultant, Royal London  This month sees the return of Renton, Sickboy, Begbie and Spud in the sequel to the film Trainspotting. Just over 20 years later, we return to see exactly how life treated the characters whose lifestyle was less than ideal back in 1996. Did they choose a job, choose […]


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