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John Charcol happy to remain outside Concordia

John Charcol says it is comfortable sitting outside of Concordia as it already receives high proc fees and a sufficient number of exclusive deals from lenders.

The broker says it was not approached to be part of the broker consortium formed yesterday that includes Alexander Hall, Chase de Vere Mortgage Management, Cobalt Capital, Hamptons International Mortgages and Savills Private Finance.

Charcol states it would rather build its own individual relationships with lenders.

Head of communications Drew Wotherspoon says: “It seems that some brokers are unhappy with the level of proc fees, number of exclusive deals and service that they are currently obtaining from lenders.

“As none of these has ever been a problem for John Charcol, it was not surprising that we were not approached. At John Charcol, we have always believed that personal relationship building with lenders is the key to success and we will continue to do this in the future.”


Big five in £10bn pact

Five mortgage broking giants have joined forces to form a consortium to negotiate cheaper deals and higher proc fees with lenders.Alexander Hall, Chase De Vere Mortgage Management, Cobalt Capital, Hamptons International Mortgages and Savills Private Finance write £10bn worth of business a year between them and hope that combining will also encourage better service from […]

A sporting chance?

Money may well make the world go around but at what cost? At last, the FSA has indicated the projected cost of the mighty Mifid. For those who have not been keeping up with events, the markets in financial instruments directive is a huge piece of European legislation that aims to create a single market […]

Rooftop tightens criteria

Rooftop claims that it has regained the confidence of investors after releasing its latest portfolio of mortgages to be securitised.But the claim comes shortly after rating agency Fitch put a negative rating on three tranches of its second securitisation Farringdon 2.The lender, which is owned by Bear Stearns, had earlier received a positive set of […]

Between proc and a hard place

Our panel debate whether retention deals go against TCF principles, plus are lenders being too aggressive in chasing arrears?


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