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Charcol discord with consortium

by Guy Anker

Concordia has been given a frosty reception by John Charcol, the most high-profile absentee from the broker consortium launched last week.

Charcol says it was not approached to be part of the broker collaborative which includes Alexander Hall, Chase de Vere Mortgage Management, Cobalt Capital, Hamptons International Mortgages and Savills Private Finance.

Charcol says it prefers to build its own individual relationships with lenders rather than join Concordia, which has been established to get better deals from lenders on rates, remuneration and service.

Head of communications Drew Wotherspoon says: “It seems that some brokers are unhappy with proc fees, number of exclusive deals and service that they are getting from lenders. As none of these has ever been a problem for Charcol, it was not surprising that we were not approached.

“We believe that personal relationship building with lenders is key and we will continue to do this.”

London & Country was approached and has welcomed the initiative. Head of communications David Hollingworth says “The theory is sound but they have got to build relationships with lenders as well, which I am sure they will.

“I would not rule out wanting to be part of it in future but, of course, we would have to be accepted. We were approached but felt it was not something for us at this stage.”

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