Alexander Hall suggests brokers aid understanding of fixed rate mortgages
www.moneynews.co.uk > Mortgages > Alexander Hall suggests brokers aid understanding of fixed rate mortgages
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Money News |
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Alexander Hall suggests brokers aid understanding of fixed rate mortgages
Wed 23rd Feb 2011
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Andy Pratt, chief operating officer at the mortgage advice firm, claimed consumers who go directly to lenders will only receive "guidance".
In comparison, a broker will aim to offer a detailed explanation of a product, he suggested.
Mr Pratt pointed out that people do not even have to complete the purchase with an intermediary, since simply going through the application process will give them useful information.
He said: "Consumers that have taken out a mortgage via a broker will largely have a better knowledge of what is likely to happen across the period of their mortgage."
The Alexander Hall representative made his remarks after Moneyfacts.co.uk published research showing the biggest lenders in the UK provide just over one-quarter of the best deals on the market.
Click here for more mortgages news
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