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HSBC widens its broker distribution

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HSBC has widened its broker distribution by adding three more firms to its panel.

The firms are Springtide Capital, Alexander Hall and SPF Private Clients.

Springtide is expected to have access to HSBC’s range from 8 April, while Alexander Hall and SPF will have access by the end of the month.

In October 2014, the lender made a shock U-turn in its distribution strategy by entering the broker market, piloting a range with Countrywide. It then added London & Country to its panel in August last year.

HSBC head of mortgages Tracie Pearce says: “We know the importance of providing choice and convenience to our customers; this is especially true when it comes to getting a mortgage. By bringing on three new brokers more people will have the chance to purchase their first property or move up the housing ladder.

“We would like to thank Countrywide and London & Country for the great work they’ve done already and we are looking forward to working with these new brokers.”

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  • Paul Adams 8th April 2016 at 1:45 pm

    I wouldn’t use HSBC on principal even if they paid me a 1% proc fee. They have a been a thorn in brokers’ sides for years plus their service levels and time to offer is a disgrace

    • Carl McGovern 14th April 2016 at 9:54 am

      I have used their shocking service and also their habit of cherry picking to my advantage a few times. I have had several clients approach me, having been declined by HSBC some of them declined at full application stage, having obtained an agreement in principle. The feedback with this type of client speaks for itself, as a typical comment is ” I should have come to you in the first place, as the service and advice, is so much better”. I am happy for them to continue to offer good rates to entice people in, but that’s the point of that, if they can’t deliver?