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Lenders finally bow to ‘writing on the wall’ on retention fees – Star Letter

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  • 24/02/2017
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Lenders finally bow to ‘writing on the wall’ on retention fees – Star Letter
Each week Mortgage Solutions and its sister title Specialist Lending Solutions looks back at the week's most thoughtful, thought provoking and controversial comments to single out the Star Letter.

This week our Star Letter goes to John Azopardi for his comment on Exclusive: Nationwide to pay retention proc fees and offer loyalty deals through brokers

“Brilliant news! The last major domino has tumbled – and brokers can be assured that the great work they do on behalf of clients is properly recognised.

“I think it would be appropriate to thank the staff at Mortgage Solutions for covering this story so energetically. We have come a long way in six months.The outcome means that a broker’s income will rise – but more importantly – we can continue to give our clients the very best service in the knowledge that we will be properly remunerated. Our clients are at the centre of what we do and we will no longer be disadvantaged by giving them the right and proper advice. So particular thanks to Samantha Partington. She broke the story of Santander approaching customers early on retention deals. The story generated a lot of discussion, and I like to believe that it was because of that debate that the lenders finally had to accept ‘the writing on the wall’.

“At a time when a free and inquisitive press are coming under attack in some parts of the world. Its great to see the effect that free comment has had in the UK. Well done Mortgage Solutions!”

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