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Mortgage Adcisers Lose Millions In Fee Dur To Less Lending

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20 March 2008

Breaking News

Edeus warns of dramatic proc fee shortfall

The current liquidity crisis could result in as much as £625m being wiped off the total income potential for advisers, according to Alan Cleary, managing director of Edeus.

Through a recent research initiative which assessed various lender and product withdrawals across the sector, Edeus has calculated a 30% deficit in the amount of finance expected to be available to mortgage borrowers in 2008.

Edeus expects gross mortgage lending in 2008 could be as low as £250bn and fear this reduced commission pool could lead to a dramatic reduction in payable procuration fees.

Cleary added: "It is vital advisers begin to consider additional revenue streams to ensure they are able to continue to operate in a commercially viable manner. We are fully aware of the predicament our broker partners face and as such we are currently working on a key initiative that we hope will be of assistance in the very near future."

link http://www.mortgagesolutions-online.com/pu...tml?page=746392

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