Brokerage Goldman Group has taken the decision to stop offering insurance and mortgage advice due to the tough market conditions.
It cited a decline in mortgage lending, lack of competition between lenders and “their desire to cut out mortgage brokers” as reasons for its closure, along with the increased cost and burden of regularity compliance.
Michael Goldman said: “Over recent months, due to our desire to provide clients with what we believe to be ‘best advice’ we have regularly advised on options which to do not pay any commission. We have always believed in providing a high quality, low-cost service to our clients, a fact recognised by several national awards for this service. Unfortunately in the current economic climate we feel it is not viable for us to continue with this business model.
“We have ensured that all existing clients will continue to receive mortgage and insurance advice and would encourage them to contact us to discuss this further, as and when appropriate.”
Goldman will still be involved in the mortgage market, but will no longer be advising on a day-to-day basis. Other businesses he remains actively involved with include Crossley Countrywide, Taxation Strategies, Goldman Claims and Property Land Investments.
