Bankhall and Paymenshield control £30bn worth of lending

Bankhall and Paymentshield have revealed that they now control mortgage lending of in excess of £30bn and have a combined membership base of over 36,000 intermediaries as a result of their strategic alliance.

Bankhall also announced that it is to spend a further £10m on developing its IT systems as it works towards the elimination of unnecessary paperwork. This was the hard-hitting message delivered to intermediaries by directors of Paymentshield and Bankhall during a series of joint roadshow presentations.

The organisations this week completed a series of joint nationwide roadshows to highlight the benefits to intermediaries of the strategic alliance between the two businesses during the build up to mortgage and insurance regulation by the FSA. The roadshows were attended by over 6,500 intermediaries.

The benefits include:

• Enhanced commission

• Market-leading deals from lenders

• Leading general insurance proposition

• Unrivalled compliance support

• True independence for their businesses

• A one-stop shop solution for intermediaries

Rick Riding, chairman of Paymentshield, says: “Paymentshield has taken the opportunity at the roadshows to explain to the marketplace the benefits that the alliance has created.

“The sheer scale of the combined companies gives us the clout to deliver the best products and best commission deals for our members coupled with unrivalled compliance support.”

And Shaun Godfrey, group sales director at Bankhall, says: “It&#39s a win-win situation for intermediaries, the best of everything and even the opportunity for them to join Bankhall&#39s Point One network until they feel that the are ready to become directly authorised.”