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‘Dual-deal days are coming to an end’

The days of dual-pricing are numbered as key mortgage lenders reconsider their pricing strategies in response to broker outrage, says Positive Solutions.

Mortgage manager Paul Rignall says there has been a change in attitude from some lenders towards the intermediary market and many recognise dual-pricing is not in their long-term interests. He says: “Lenders have seized the opportunity to take control and maximise profits to help bolster their balance sheets but they are waking up to the fact that they do not want to disenfranchise a huge section of the market that has produced perhaps two-thirds of their business in recent years.

“Brokers have been angry because they have been forced to point their clients in the right direction for no reward. Lenders have won few friends among mortgage customers who are dismayed their broker has effectively been sidelined.”

Rignall says it is in no one’s interests for the situation to continue, saying that lenders who start to “play fair” with intermediaries are likely to benefit.


A shaw thing

Annie Shaw is a freelance financial journalist
A week that started with root canal treatment and an associated bill of nearly £700 was only going to get better. Midweek saw me at a rather glamorous lunch at the London Capital Club in Abchurch Lane hosted by Pointon York Sipp Solutions.

Towers Perrin slams whole-market plan

Towers Perrin claims the retail distribution review has failed to recognise that tied or multi-tied advisers can in many cases deliver a better service than whole of market advisers.

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.


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