17/10/2011 - Trail Commission Cut Anger

Trail Commission Cut AngerTrail Commission Cut Anger.

According to Mortgage Strategy, Paymentshield have sent letters to a number of brokers advising them that from 1 November their commission will fall from 27% down to 5% as they have not submitted any business with them in the last 12 months.

The insurance provider told brokers that by not submitting any business with them in the past 12 months they had become a dormant agent and were therefore subject to changes in commission rates according to their contract. This reduction means a broker who was previously getting £500 per month will now receive only £93.


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