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Martin Lewis hits back at broker blasts

It Pays To Watch host Martin Lewis has hit back at mortgage brokers after personal tirades online and over the phone.

The finance journalist, who has his own Channel Five show and a website, Money Saving Expert, has repeatedly urged mortgage brokers to not see him as a figure of hate after he repeatedly backed the sector.

In an open letter on his website, Lewis says: “For the many years I’ve been doing this, whenever talking, broadcasting, writing about mortgages my constant push has been to say use a ‘whole of market’ mortgage broker to get you the best deal.”

Lewis says he has had to confront brokers after a mortgage broker forum created a whole group against him and his site became littered with comments from disgruntled advisers. “I’ve even had some brokers anonymously contact me to request I end my life,” he says.

He adds: “Should I change my stance? If I did, it would be to not suggest people use brokers. I don’t believe that’s appropriate, though sometimes after some of the venom, I get tempted for a second or two. I will continue to support the broker sector.

“I don’t know what impact I’ve had on the market place, but as much of the complaints are that I’m too influential, if that’s true, there will be many 100,000s who’ve gone to brokers because I’ve extolled them too.”

Lewis told brokers that he is not an adviser and has never advised people towards a particular mortgage: “I’m not a qualified mortgage broker. My entire stance is that I write not as part of the finance industry. I am a qualified journalist and that’s my work.

“Yet there is a difference between talking about the issues happening, the trends and extolling people to act and telling people what to do. I have an enormous mailbag, many thousands of emails a week, and concern over the mortgage is one of them.

“I always refer people to mortgage brokers to look at someone’s specific situation. This is the great contradiction.”


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