In a statement on its website, PTFS says that dual pricing has got to stop.
“Many of the activities are absolutely disrespectful to the broker market and breaking agreed protocols. This is not about profit – this is about distribution. This practice has to stop!”
It adds: “Brokers only want a fair playing field and parity. In a tough market place we can all prosper together, irrespective of the challenging circumstances.”
“Lenders who continue these unfair practices should come clean. They should be honest about their attitude to the broker market place. We call upon the lenders to stop these unfair practices, create a level playing field and work in partnership again with the broker community.”
It says it will create a rogues gallery on its website outlining the practices of lenders who directly undercut the broker market place.