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Fourth director joins Charcol rebels as talks stall

B&B is piloting John Charcol&#39s mortgage broking system in several London and North of England branches.

But the dispute with Charcol&#39s branch direct-ors continues to dog the

lender, with a fourth branch director out of nine joining the rebel


Law firm Armstrong Neal, which is representing the branch directors, says

Charcol took four weeks to respond to the initial contact by the directors

when it had promised a response within seven days.

The directors feel they are being excluded from plans surrounding the B&B

integration, which could see Charcol branches directly competing with B&B.

The directors are concerned about how branch business targets could be hit

once B&B branches gain access to the Charcol exclusive range of mortgages

early next year.

The rebel directors feel giving B&B access to the mortgage range could be

a breach of contract. They say they have spent years building the Charcol

brand through branches. It is understood that Armstrong Neal is looking to

organise a meeting between Charcol representatives and the directors to

kickstart negotiations.

Armstrong Neal partner Gareth Fatchett says: “It took over four weeks to

receive a standard response. From this you can only draw your own

conclusions that the allegations are true.”

But Charcol market-ing manager Siobhan Hotten says: “The issues are

contractual and we did respond to say we will be addressing these issues in

due course.”


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Jelf Employee Benefits discusses the legislative changes in Dubai, available medical facilities and policy considerations for employers with expatriate workforces in the country. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Dubai, or are considering operating there in the near future.


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