22 May

Mortgage intermediaries 'could save borrowers money'

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.

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.