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‘Lenders putting IFA relationships at risk’

John Charcol senior technical manager Ray Boulger warns that lenders could damage their long-term relationships with brokers after Woolwich confirmed it will no longer be accepting new introducers.

Woolwich says it has taken this “short-term measure” in a bid to manage business flow. A spokesman says: “We have been inundated with business over the last three to four months. We are trying to be sensible about trying to manage the flow of business and looking after our existing customers.

“If anyone moves from one broker to another, then they will be able to re-register.”

Boulger says lenders have got to be careful of making such decisions.

He says: “This situation will not last for ever and it could come back to haunt them in the longer term.”

Boulger says lenders are looking closely at who they want to work with in the current environment.

He says: “The whole question mark of mortgage clubs has been raised as lenders cannot control who they deal with. Previously, the huge benefit of clubs was the volume they offer but now from a lender perspective it loses them some control.”


Clegg promising independent advice on repossessions

LibDem leader Nick Clegg has promised to make financial advice compulsory when repossession claims are issued.Clegg insists the advice would have to be indepen-dent, whether provided by the Citizens Advice Bureau or IFAs, but has not confirmed who would foot the bill.Speaking to a City of London audience last week, Clegg said if the rise […]

Rock loans weigh on the nation

The Office for National Statistics has told the Government it must put the £26bn loaned to Northern Rock by the Bank of England in the national accounts.In a move which Tory Shadow Chancellor George Osborne claims breaches Gordon Brown’s rule on keeping public debt below 40 per cent of GDP, the ONS has said the […]

Premier Network Group aims to grow to 60 AR firms in 2008

Premier Network Group has plans to increase its Appointed Representative mark to 60 firms by the middle of the year.PNG was established as a network in August 2006 and has grown considerably since that time. It is currently the Principal for 23 AR firms, currently containing approximately 40 brokers. The network is also targeting a […]

Uinsure ahead of targets with 800 agents

Web-based general insurance panel Uinsure has signed its 800th firm to use its services for buildings and contents and mortgage payment protection insurance. Ashton Mortgage & Financial Solutions was the 800th firm to sign up. With 1,000 firms expected by the end of the first year, Uinsure chief executive Simon Taylor says they are now […]


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