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.”