22
May
Mortgage intermediaries 'could save borrowers money'
A new report from financial services research company NMG has
suggested that seeking independent mortgage advice rather than
dealing with lenders directly could save borrowers up to
£1,830 a year.
It found that the average annual saving that customers made by
purchasing through an advisor is £962.
In terms of customer satisfaction, NMG's research showed that 55
per cent of people who arranged their current through an advisor
felt they were kept informed of the progress of the mortgage
application, compared to 34 per cent who went to a lender
directly.
Commenting on the findings, Chris Cummings, director general of the
Association of Mortgage Lenders, called on the government and
industry to "give their backing to the role of advice in the
mortgage market at these difficult times for consumers".
"Intermediaries are able to identify the most suitable product for
the consumer at a competitive price," he added.
