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It’s tough for lenders too

Sometimes it is necessary to say and do some things which may be unpopular.

With a plea to IFAs and brokers, several mortgage clubs and networks have taken the lead in pointing out just how tough things are for lenders.

Rates have been withdrawn and products changed to be far less attractive. Lenders have been berated by brokers but some intermediary leaders have now chosen to point out the harsh realities. It is clear that any mortgage providing a good deal for borrowers sells out very quickly. Demand is high for anything that offers value.

Money Marketing, while understanding the frustrations for brokers, suggests that some of the criticism is not fair, given the very difficult liquidity environment. At the same time, we are watchful for anything that smacks of lenders trying to take an unfair advantage of the situation but we applaud these networks and clubs for their brave stance.

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