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Charcol wants to team up with football clubs

John Charcol is looking at offering mortgages via affinity partnerships with football clubs.

The broker believes that many football supporters are getting a poor deal with poor affinity deals on other financial services products such as credit cards and general insurance when products are sold direct and it believes that a broking service would offer better value for fans.

However, Hamptons International Mortgages is unconvinced that such a deal would work because it believes that profit margins would be low and it also considers that the bigger clubs would be likely to favour a direct lender because of the higher margins that could be achieved.

Charcol head of communications Drew Wotherspoon says: “We will look at football clubs due to the inherent goodwill that is associated with them.

“Many clubs are happy to have financial institutions associated with them but some are not the best deals around. However, there is little when it comes to mortgages. With a service such as ours, they would be able to offer supporters the best deal on the market.”

Hamptons managing director Kevin Duffy says: “It may work with smaller, provincial clubs. It is a big-sounding idea but profit is likely to be low so I am not sure that clubs will go for it.”

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