MORTGAGES: Scale force
He says: "If you look at a firm like LSL, it has probably looked to see if there are elements of its business where there are gaps to fill and perhaps dovetails with other aspects of its business. I guess it sees TMA as being a natural progression in terms of controlling the whole chain in the...
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| Published in: | Money Marketing 2011-07, p.26 |
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| Format: | Magazinearticle |
| Language: | eng |
| Subjects: | |
| Online Access: | Get full text |
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| Summary: | He says: "If you look at a firm like LSL, it has probably looked to see if there are elements of its business where there are gaps to fill and perhaps dovetails with other aspects of its business. I guess it sees TMA as being a natural progression in terms of controlling the whole chain in the mortgage process." [Ben Thompson] says: "I am not surprised either at Santander's focus on core business or LSL's stated intentions. From a wider market perspective, I am not surprised there has been further market consolidation. There comes a point, with mortgage clubs in particular, that unless you have got some distinct critical mass and real scale, it is very difficult to make a case for running it." The bigger directly authorised mortgage brokers, such as mortgage clubs, occasionally get exclusive products from lenders. But Cornell says there is a two-tier distribution market emerging, with big brokers such as London & Country and John Charcol losing out to "super-clubs". |
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| ISSN: | 0958-3769 0958-3769 |