Bankhall and Paymentshield now control mortgage lending of more than £30bn and have a combined membership of over 36,000 intermediaries as a result of their strategic alliance.
Bankhall also revealed last week that it is to spend a further £10m on developing its IT systems as it works towards eliminating unnecessary paperwork.
The organisations last week completed a series of joint nationwide roadshows highlighting the benefits of the alliance between the two in light of upcoming regulation. The roadshows were attended by over 6,500 brokers.
Rick Riding, chairman of Paymentshield, says: “The scale of the combined companies gives us the clout to deliver the best products and best commission for members coupled with unrivalled compliance support.”
Shaun Godfrey, group sales director, Bankhall, adds: ” It's a win-win situation for intermediaries – the best of everything plus the opportunity to join Bankhall's Point One network until they feel they are ready to become directly authorised.”