Unfortunately, no – they aren’t obliged to find you the best deal – and while some will try and find you the best deal, they tend to be limited by how many lenders’ products and rules they can know personally, which could be only one-to-two lenders.
For too long, the standard for what customers expect has been far higher than the standard the industry has been delivering. The regulation of credit providers and mortgage brokers stipulates that a provider or adviser must only recommend a loan that is ‘not unsuitable’ for the customer’s circumstances.
However, we know that customers expect and deserve the best – rather than just something that’s not unsuitable. This Better Deal Challenge, backed by uno’s pay the difference assurance, is our way of raising the bar for the industry to the level that customers expect across all other categories – which is the level they deserve for what’s possibly one of the biggest financial decisions of their lives.