Trigold agrees to list hybrid rates

Trigold has yielded to pressure from lenders to include capped tracker products on its sourcing system.

Previously, the sourcing system was unable to distinguish capped tracker products and sourced them as either capped or tracker deals.

Because only three len-ders offer these hybrid products – Skipton, Woolwich and Coventry – Trigold felt that they were too atypical to warrant special treatment.

But after Skipton contacted the sourcing system earlier this year, it agreed to tweak the system to include the society’s product.

William Gill, product manager for mortgages at Skipton, says: “Our capped tracker was not sourced for five months but after protracted negotiations with Trigold the capped tracker was included on the system. We rely on sourcing systems. This isn’t a niche product – it is suitable for a lot of people.”

Inspired by this coup, Woolwich, which launched its capped tracker last week, also contacted Trigold to see if its product could also be reassessed on the system. Once again, Trigold obliged.

Bill Safran, chief executive of Trigold, says: “We managed to work with Woolwich and tweak things a little so its product now appears on our system.”

But Coventry, whose capped tracker continues to be sourced as either a capped or tra-cker product, says this does not impede its business and declined to comment on whether it would be contacting Trigold to request a similar amendment.