Property News · March 25, 2017

The death of the mortgage salesman is unfortunately premature


Lenders now pay mortgage brokers ‘retention’ fees for simply rolling you over from one of their deals to anotherWe thought the “commission hungry salesman” had been consigned to the museum of financial horrors, next to the exhibits on Equitable Life and endowment mortgages. But are these relics in fact still alive and crawling back into the mainstream?On the quiet the major mortgage lenders have begun making “retention” payouts to brokers, alongside the “procuration” fees they have long paid. If you have no idea what this means then that’s probably the idea – to keep you in the dark. Continue reading…

Source : theguardian.com
Read more…The death of the mortgage salesman is unfortunately premature

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