If you weren’t in the industry since before 2008 you could be for thinking that we only see bad banking decisions and negativity on a one way journey through the crash.
Today though Ptsb came out with what we believe is a deeply pragmatic broker offering that is rooted in good ethics and common business sense.
The first thing is the return of the Service Level Agreements which have been largely absent in the market of late, given recent backlogs in many lenders this is a very positive development for both industry and clients of financial firms. It’s frustrating waiting weeks on end for a credit decision.
The other thing they have done is follow AIB’s lead by removing the cap on procurement fees. When we are brokering loans and do one (for instance) for €1,000,000 the maximum we can earn at present is €1,500 although this may take 40 hours of work to perform, plus costs, administration and all other fixed and variable overheads. It has been one of the key drivers of brokers out of …