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Dual-pricing won’t hit advisers’ market share

Datamonitor predicts the intermediary share of the mortgage market will only shrink by 2 per cent this year despite the concerns over dual-pricing.

In its mortgage report published this week, it says the intermediary share of the mortgage market will fall from 65 per cent in 2007 to 63 per cent.

A survey of 80 brokers found 53 per cent are most concerned about lenders pulling away from intermediary distribution.

It says lenders are being increasingly selective on distributors and some are prioritising selling through their branches but it does not believe this will have a dramatic impact on advisers’ market share and predicts that intermediaries will remain the main distribution channel for mortgages.

Legal & General mortgage director Ben Thompson says: “This is positive news. Even though some direct deals are 30 basis points cheaper, customers are still looking to advisers for rounded advice. When market conditions return, I think distribution will swing even more in favour of brokers.”


Indian summer

After a fall of around 23 per cent in the first three months of this year, the Indian stockmarket now looks to be highly attractive. Over the past 10 years, the Indian economy has grown at an average annual rate of more than 7 per cent and is forecast to grow by 8.7 per cent in 2008/09.

OFT raids on RBS and Barclays

The Office of Fair Trading has raided the offices of Royal Bank of Scotland and Barclays in an investigation into alleged anti-competitive conduct over loan pricing.

Columbus buys Orchard Lane

Wealth manager HFM Columbus has acquired independent financial adviser firm Orchard Lane.


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