Millions of homeowners who use mortgage brokers are being denied access to the best deals, after a decision by some of the
The number of mortgage advisers has fallen from about 30,000 to 26,000, according to the Association of Mortgage Intermediaries. Almost three quarters of the £15 billion in mortgages in the
New research by Moneyfacts.co.uk conducted for The Times shows that, of the top 20 best-buy two-year deals on the market, only two are available through mortgage brokers.
The proportion of mortgage deals available through brokers has fallen by almost half in the past three months, Moneyfacts said, from 32 per cent to 17 per cent of the market.
The percentage of deals available from lenders directly over the same period has doubled, from 27 per cent to 54 per cent.
HSBC, NatWest and Royal Bank of
This has put tremendous pressure on lenders that offer the best deals on the market, as borrowers clamour for the good rates that remain.