High street lenders failing borrowers

Three times as many people believe they can get a better deal from a mortgage broker than a high street lender, according to new research by The Mortgage Lender.

The lack of value and impersonal approach taken by high street lenders is becoming increasingly unpopular, and almost two thirds of the 2,000 surveyed believed that high street mortgage lenders are failing to meet the needs of borrowers.

Nearly three quarters of those who took part also said that refusing to lend simply because of being self-employed or having multiple incomes is unfair.

Pete Thomson, sales and marketing director at The Mortgage Lender, said: “These results are quite damning.

“Mortgage brokers can identify the right lender and the best deal for any circumstance, that’s clearly something people recognise and value.”

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