Mortgage Angels has predicted there is not enough business to sustain the number of lead generation firms in the marketplace.
Mortgage Angels managing director, Nat Daniels, said: “The big banks are moving into this space, forcing the price of advertising on this medium up and up to a point where some smaller lead generating firms will be forced out of business.”
Further rate rises predicted
The Bank of England has admitted UK rates may have to rise further in coming months in order to keep inflation on target
In its quarterly inflation report, the Bank of England said inflation could rise as high as 2.7 per cent without a rate rise.
MBSL cuts charges
Mortgage Broking Services Limited (MBSL) has announced it is reducing the charges applicable to members of its network of appointed representatives (ARs). Members will benefit from the reductions on or after 1 October 2006. The majority of regulated mortgages will now attract a tariff charge of just £40 and for insurance contracts there will be a charge of just 10 per cent of commission generated. Ian Richardson, managing director of MBSL, said: “We’ve developed a membership of high quality firms and we are now focussed on building an increased network size through controlled recruitment of quality mortgage brokers."
