Brokers must consider size of lender panel

As lenders strive to control their distribution channels and the quality of business, major differences will emerge between distributor’s panels. Mortgage Next says the credit crunch has caused lenders to take tighter control of the quality and volume of new mortgage business. As a result, many are becoming selective with distributors such as packagers, networks and mortgage clubs. “This trend is likely to continue until we see an improvement in market conditions, which could be some time away,” says Gemma Harle, managing director at Mortgage Next. “The consequence of this development i...