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Yorkshire Building Society

Graeme7777
Graeme7777 Posts: 255 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Mortgages & endowments
I've just been on YBS's website and noticed that they "no longer accept mortgage applications from introducers".

Is a mortgage advisor considered as an "introducer" and is this now common practice?

Comments

  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    Hi Graeme

    Yes brokers are considered introducers. I wouldn't say it's common practice for lenders to stop accepting applications from us but the numbers are slowly increasing (this on top of dual-pricing).

    Cheers
  • Graeme7777
    Graeme7777 Posts: 255 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Cheers Andy!

    By "dual-pricing" do you mean that lenders offer borrowers cheaper rates if they approach the lender directly than if they work through a broker?
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    Yes absolutely - e.g. - Woolwich, C&G, Halifax, Abbey, etc.
  • dwsjarcmcd
    dwsjarcmcd Posts: 1,857 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    The Yorkshire has a seperate 'broker' brand in Accord mortgages, which doesn't accept applications from the public direct, only via brokers. The Yorkshire used to allow brokers to submit business on their website but did not pay them any commission for doing so, but now all broker applcation are placed via Accord

    David
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