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TenetLime sale, fee-free broker model and green mortgages top Cherry topics in September

  • 13/10/2023
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TenetLime sale, fee-free broker model and green mortgages top Cherry topics in September
The sale of TenetLime to LSL, the possible end of the fee-free broker model and green mortgages were the most popular topics on the Cherry broker forum.

Regarding the sales of TenetLime to LSL, brokers discussed difficulties, fears and ramifications and those impacted by sale asking about the community around Primis, who will take on Tenet’s appointed representative network.

Others expressed concern about what would happen to their “substantial back books” and their renewal payments.

The fee-free model thread was in response to an article suggesting that the fee-free broker was dead, with most commenters disagreeing noting that different models were necessary for the market.

Brokers also talked about their frustration with green mortgages, pointing to sourcing systems that made it difficult to ascertain if deals were green.


Side hustles and regulation

Other popular topics included side hustles for brokers, fees and whether regulation was bad for advisers’ health.

Donna Hopton, director at Cherry, said: “As brokers have started getting used to Consumer Duty, the most popular topics on cherry last month were more diverse in their subject matter than in immediately preceding months.

“While the adviser sections of the cherry forum are literally for advisers only; intermediaries, and now providers too (as providers can communicate with brokers by having their own free Provider Forum areas on cherry) are finding cherry an excellent place to share information, advertise, communicate and discuss important matters.

“Overall, the forums have become integral to the industry, with cherry now providing an enormous opportunity for mortgage market participants to use their own Provider Forum areas to engage directly with advisers and thus improve their understanding of the pressing matters and frustrations that intermediaries face.”

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