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Why my firm won’t be using dinosaur lender in future

The strapline for Halifax’s TV advertising campaign is ‘Halifax gives you extra’. I have to say this isn’t my experience as a broker.

First, Halifax has been guilty of cross-selling general insurance and life cover to broker-introduced clients for years. And I discovered it has a range of branch-only deals that are superior to those made available to us.

When will this dinosaur learn that brokers are an important distribution channel?

To offer these direct-to-consumer products at a time when the liquidity crisis is making things so difficult shows how little it thinks of us.

As a broker, I support lenders that support us. Based on Halifax’s past and present performance, our company will not be using it in future.

Jim Gillespie,/b>
Independent Financial Services


Scottish Widows axes two and three-year fixes

Scottish Widows Bank is withdrawing its two and three-year fixed rate deals from 5pm tonight.The bank says it is a result of unprecendented and unexpected business volumes.Scottish Widows is also temporarily refusing new business applications on its graduate, flexible, key worker and buy-to-let mortgage ranges from 5pm this evening.The bank will continue to accept online […]

Praxis joins PMPA

Praxis has joined the Professional Mortgage Packagers Alliance, increasing the organisation’s membership to 15. Birmingham-based Praxis joins, among others, Countrywide Mortgage Centre, Premier Mortgage Packagers, and Platinum Lending.Vic Jannels, PMPA’s chairman, says: “From our discussions with our lender panel we are aware that lenders are looking for strong relationships with larger distributors that deliver quality […]

Base refusing new brokers

Base Commercial Mortgages is no longer accepting broker registrations.The lender says the decision has been made following a rapid increase in the number of new business enquiries being received, resulting from competitors withdrawing products and services from the commercial mortgage market. Base will continue to accept applications from brokers who are already registered but will […]

Buy-to-let thrives on crisis

Buy-to-let landlords are well positioned to benefit from the liquidity crisis, says Your Move.The online estate agency claims that recent product withdrawals and tightening mortgage criteria are squeezing first-time buyers’ ability to get onto the housing ladder.This is increasing demand for rental accommodation, playing into the hands of landlords.David Newnes, managing director of Your Move, […]


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