New lenders 'destabilising mortgage market'

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New lenders db Mortgage and edeus have been accused of distorting the mortgage labour market by offering "inflated salaries" to key account managers and business development managers.

John Malone, managing director at Premiere Mortgage Service, says he knows of several lenders which are currently reviewing the salaries they offer to senior sales staff, because they cannot attract suitable employees as a result of the salaries being offered by db mortgages and edeus. He says Platform, Portman Building Society and Northern Rock are among a number of lenders all currently having to look at the packages they offer as edeus and db mortgages are both said to offer nearly double the normal salary and benefits for such positions. edeus has also guaranteed commission payments ...

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