Standard Life Bank calls time on broker deals
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Standard Life Bank will not accept mortgage applications from brokers, following its acquisition by Barclays.
Barclays agreed to buy SLB from parent Standard Life for £226m last October but the deal was not finalised until last week.
While there will be no further sales of the bank’s mortgage products through intermediaries or direct, new and further borrowing requests will be accepted from existing customers.
As of June 30 2009 Barclays had a mortgage book of approximately 824,000 accounts worth £84.4bn.
At the same time SLB had approximately 78,000 accounts and a total mortgage book valued at some £8.8bn.
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