null’s certainly not mandated but one to comnulletion and the lender could not
brokernullriendly lender thinks that rule nullll any additional rabbits out onullthe hat
changes will be imminent. later onnull
nullooknullnullwouldn’t want to align
Sue Read
nullat said, ultimately I do understand
brokers to car salesmennullbut if nullwent
managing director
nullvender nullnancial
that it is the adnullsernulls duty to enulllain
to a car showroom with nullnullk to
Management
each and enullry asnullct onullthe mortgage
spend nullwould enullect that the adviser to the client and inullthey nullil to do so the
or salesman would know all about the Inull concerned about the burden that buck will stonulltherenullIt is unullto adnullsers
postnullale service nullwould receive once the necessity to know enullry lendernulls to ask and the nullnullto nullrce lenders
nullve done the deal. nullou enullect it in arrears nullocess could nulltentially nullace to disclose all necessary innullrmation
other industries and so why not this on adnullsersnullnullilst I emnullthise with to the adnullser regarding the contract
onenull this aim I cannot belienull that adnullsers termsnullnullilure by the lender to disclose
nullhim nulltoniadesnulla broker with will, on the whole, bother about thisnull terms to the broker could then result in
Mortgage nullntre nullnull says brokers nullwenullr, inullit is an nullnullrenullirement and any blame being nullssed back into the
should be aware of rule changes now there is some culnullbility nullssible then lendernulls courtnull
more than ever. we need to be awarenullI wonder inullthe nulle nullonullsed changes to the arrears
nullf clients find themselves in a nullI should be enullended to incornullrate nullocess itselnullseem sensible and nullirnull
situation where they fall into arrears such innullrmationnullInullthat could be done I note that lenders will be renullired
then one of their first ports of call could this would become nullrt onullthe nullormalnull to keenullrecordings onullconnullrsations
surely be the adviser that arranged the adnullce nullocess and would conullr the regarding arrears cases nullr three years
mortgagenull he says. nullf that client feels adnullsernull in nullture, rather than onenullI assume
that the terms and conditions of the nullth regard to nulloduct small nullint, this includes connullrsations with any
deal were not enulllained then you can I think that at nullesent the nullnulland adnullsers innulllnulldnull
enullect a complaint nulldespite the fact lenders belienull this to be the adnullsernulls nulle changes to the anullronulld nullrsons
it’s the lender that will no doubt be at resnullnsibility to enulllain nulland to a nullry sound fine too, although it seems null1nullnull
fault.null large enullent I agreenullnullwenullr, as tynullfied that sole traders will hanull to nullonullde a
by the recent changes to the nullinullonnulls CRnulldisclosurenullInull not sure how this
aPPRoved PeRsons rates, I also know that there are times would be obtained nulldoes this mean we
While the first half of null nullnull that lenders do not necessarily make hanull to go through a CRnullcheck which
is certainly a cause for concern these things clear in the nullnullrwork I understand has a cost and is certainly
regarding some of the possible wider nullonullded to brokersnullnulle mortgage onuller not a snulledy nullocessnullCould it be
implicationsnullthe section on nullproved should, in my onullnion, show enullry single administered through networks which
Persons could be good news for the term and condition onullthe mortgage again would hanull a cost imnullicationnull
introducing broker market. nulloductnullnullis doesnnullt always seem to nullen would it hanull to be nulloduced null
nullo realise this you only have to look be the casenullInullit were, the adnullser and nullesumably on anulllication to the nullnullnullr
at the initial response from the nulluncil the client could then nullery any unclear new adnullsers, but what about enullsting
of Mortgage nullnders. terms or conditions with the lender nullior onesnull
nullhe nullnull’s proposals on how to
enullend the approved persons regime highnullrofile broker says. nullnnullranch he says. nullut is the price of getting the
may be disproportionate for lenders advisers should be subject to the same likes of nullnull on board really a price
nullthe costs will far enulleed potential regulatory standards as intermediaries. worth payingnull
benefits. Within lenders there is null this null went through as it is then nullhat does the consumer wantnull
typically a high level of consumer lenders could well start to see again he asks. nullltimately it will be the
recourse to the institution over timenull the benefits that distributing through consumer that pays the price and
involving a range of functionsnullnot just the intermediary channel can bring in decides whether to go branchnullased
the original salesman or adviser.null terms of cost savings alone nulllet alone or through an intermediary. We need
nulld nullnulldirector generalnullMichael the benefits to consumers.null to enullmplify the benefits of using an
nullogannulladdednullnullt first glancenull nulld Robert nullnclairnulldirector at introducing intermediary.null
the enullension of the approved nullnull can see the potential for the nullfortunately with the amount
persons regime to both lenders introducing broker market here toonull of regulatory red tape and burden
and intermediaries appears heavynull although he admits consumers will strangling the introducing
handednullat least as far as lenders ultimately end up paying more for their intermediary market at the moment
are concernednulland may be a mortgage. it’s not just brokers that are paying the
sledgehammer to crack a nut.null nullf this levels the playing field it will price. nullnsumers are too. nulld the
null did like the way he slipped in make the case for the introducing sooner the nullnullwakes up to that the
the word nullntermediaries’ therenull one intermediary market more compellingnull better.n
mortgage introducer MnullCnull2010 2null
MI p20-25_0310.indd 7 23/02/2010 11:01
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