The relationship mortgage brokers have with estate agents will come under scrutiny as part of an Office of Fair Trading (OFT) market study into home buying and selling.
It will also consider: competition on price and quality between service providers, principally estate agents; the prospects for entry by new business models, including Internet-based models; whether the existing regulatory framework provides the right balance between protecting consumers who are buying or selling a home and ensuring that the market remains open to competition and innovation.
The study will cover the whole of the UK, while acknowledging some of the significant differences in how the market works in Scotland.
Heather Clayton, senior director of infrastructure at the OFT, says: "With the economic downturn, we need to ensure that consumers receive a good service when buying or selling a home, from a market that is competitive, innovative and well-functioning.
"We have had constructive discussions on the scope of this study with interested parties from across central and devolved government, consumer groups and the industry. This means we are starting the study with a clear understanding of the key issues."
Putting the tech into protection
Square Mile’s series of informal interviews
Fallout from Haywood suspension
Launching later in 2019
£80bn funds under calculation