| Fees paid to brokers are far too high |
 |
 |
 |
 |
 |
 |
| Banks and Banking - provide articles and publications about Banks plus Banks books, magazines and office products. |
|
Fees paid to brokers are far too high Author: Mark Anthony Harrison
Fact. There can be no justification for some of the fees paid by lenders. Proc fees of 2.75%-plus are simply deplorable when it is clients who will ultimately pay the price through an extra loading on the interest rate they pay, be it at the front end or - as is more common with some lenders - at the back end after an initial deep discount. Traditionally, high proc fees were justified by the relative complexity and extent of the work undertaken by the intermediary on behalf of customers with specialist financial needs; for those customers with more heavily impaired credit backgrounds, there was more work so the fee was higher. But advances in technology mean obtaining the required information is now relatively straightforward so how on earth can lenders still justify paying fees of 2.75% or more? Consumer protection is paramount. Those lenders that continue to hide behind the excuse that the fees they pay impact only on their own profit and loss accounts are fooling nobody. In the end it's the client that pays. It's a sorry state of affairs when a lender's only method of attracting business is to pay a high fee. The sooner the Financial Services Authority wakes up and takes a look at some of the players in this often murky sector, the better. It's time for a change and we need it right NOW. About the AuthorMark Anthony Harrison has worked in financial services for over 16 years, mostly in banking but more recently with his own company http://www.capitalmortgagesolutions.co.uk. ...Banks and Banking guides and resources Cord Blood Banking - Understanding the Basics Tips For Getting Your First Credit Card Banking GIS - A New Approach in Bangladesh Fees paid to brokers are far too high Banks tips, advise & checklist Prescription Discount Plan Savings Get a Free Credit Report |
 Add Your Related Site Here... |
| Featured Sites Banks and Banking Posters Related Sites Banks and Banking Art Prints |
Banks and Banking Important Resources Banks and Banking Books Banks and Banking DVD Banks and Banking Softwares Banks and Banking Magazines |
| Banks Update from BBC News Hamas leader seized in West Bank A leading member of the Hamas militant group is arrested in the West Bank, the Israeli army says. Gaza's male hairdressers: Time to cut and run? As Hamas bans men from cutting women's hair, the BBC's Jon Donnison discovers their services were already a niche market in Gaza's conservative society. David Laws: Five things I have learned David Laws, the Liberal Democrats' spokesman on education, tells of five of the most important things he has learned in his life. Online shoppers' data passed on The Information Commission warns online shoppers to be vigilant against agreeing to data-sharing links. |
Business Stories from BBC News |
 Take advantage of our climbing ranking, without reciprocation of links! |
Banks and Banking
Maintained by: Marketer Solutions | Search Engine Marketing
2010-03-14T04:08:39-04:00