Panel or whole of market

maddison-white

Buyers should be aware that some brokers will claim to be whole of market when they work from a panel of about 9 lenders. What they should say is that they work from a panel of lenders representative of the whole of market, but not all do. Also at least two national estate agents are being quite aggressive telling buyers they have to see their brokers (who work from a panel) and then charge £250 for the advice! Do not accept this seek a reputable whole of market broker, if the estate agent is insistent report them to the FSA.

Dan_1976

Tell me, are you a whole of market broker?

Also you can be whole of market with a panel. The brokers do not make the rules the FSA cocked that one up.

maddison-white

Yes the FSA did !!!! that one up and yes I am a whole of market broker, I don't believe however you can be truly whole of market from a panel, does a panel have direct deals??

Dan_1976

We all agree on here that the whole of market and independant thing is a mess thanks to the over complicated typical labour introduced over regulation.

You cannot truly be a whole of market broker full stop. It should be simpler. Panel or not with a direct deal declaration or offer! Simples you would think!

May change when free advice is banned?