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Mortgage Brokers save clients £1830 a year

sarkin1
Posts: 283 Forumite

Brokers save clients £1830 a year
The Association of Mortgage Intermediaries (AMI) 'value of mortgage advice' report has estimated intermediaries could save consumers up to £1830 per year compared with going direct to lenders.
http://www.mortgagesolutions-online.com/public/showPage.html?page=795345
The Association of Mortgage Intermediaries (AMI) 'value of mortgage advice' report has estimated intermediaries could save consumers up to £1830 per year compared with going direct to lenders.
http://www.mortgagesolutions-online.com/public/showPage.html?page=795345
:cool:
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Comments
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Reaction to the fact that some of the cheapest deals are on a direct basis only? Hmmmm.0
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Cummings added: "Consumers can choose to shop around themselves rather than use an intermediary. However, research shows that half of consumers who purchased a mortgage on a direct basis did so from their own bank or building society without considering any other option.
A further 39% contacted no more than three lenders. This significantly reduces the likelihood of finding the most competitive mortgage for the individual's own circumstances.:cool:
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Brokers save clients £1830 a year
The Association of Mortgage Intermediaries (AMI) '
"Nuclear Fusion is a totally safe and a clean source of energy so say Britsh Nuclear Fuels".
I think you can see what I'm getting at
I have nothing against Mortgage Brokers and have used one in the past and been happy with their service but a report published by their own professional association....well they would say that wouldn't they.0 -
Hi,
Is that saving net of the costs of intermediation? For example, the commissions that lenders pay to brokers?
Personally I think that advisers can be very helpful to borrowers, especially in a complicated market like the UK. I'm just a little curious about how the stats are calculated.
Thanks0 -
To be fair, the AMI have been pretty useless in our fight to cut dual prices, I think this is an attempt at showing how brokerts can help.
We are in an unusual market. Last year this would have been very true.0 -
You have to remember that the country is full of people that go to one or two high street lenders and pick the deal with little or no research. Most of those would save money using a broker.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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