Brokers sidelined as 90% of best buys direct

Kevin Mountford, head of banking at moneysupermarket.com, warns the days of brokers offering whole of market products are over and consumers using mortgage brokers need to be aware their product range may be limited. In separate research using Moneyfacts data, HSBC found direct deals accounted for 93% of the lowest interest rates over the last two years across the four most popular mortgage categories: two-year fixed, five-years fixed, two-year trackers or discounts and lifetime trackers. HSBC revealed the average difference between the best broker and direct mortgage deals was 0.31%....