It will now simply be known as PMS and reflects the fact that for a long time the firm has been more than just a mortgage club.
The firm says that it could be argued that PMS now stands for Protection, Mortgages & Savings and that it believes all these facets will be important areas for brokers in 2009.
To celebrate the change it has also revamped its website to incorporate the new brand name.
Martin Reynolds, development director at PMS, says: “In the current environment it is important that people constantly look at their business model.
“We have been talking about diversification for the last 18 months and we felt that by having mortgages so prominently within our name we were not following our own advice.
“We also feel that the new look website will enable the intermediary to access all the new product areas that we have developed over the last 12 months and make the additional products we already have on the stocks for 2009 easy to add.
“2009 will be very challenging and PMS aims to be at the fore front in helping the Intermediary.”
Nigel Stockton, managing director for HBOS Intermediaries at the Lloyds Banking Group, says: “I am pleased to give my support to these exciting changes at PMS. It is great to see PMS investing at a time when the market is so difficult.
“These changes are designed to maximise a brokers other income lines alongside the mortgage income something HBOS really understands and is wholly behind.”
Matthew Wyles, group distribution director at Nationwide, says: “PMS is highly successful because it really understands its market and is yet again providing leadership to the sector.
“It can see what intermediaries need to do to survive in this very tough environment and is taking practical, decisive action to support them.”
And Ricky Okey, managing director for intermediary Distribution at Abbey says: “Being able to adapt and reinvent your business model is vital for any organisation wishing to maintain a highly competitive position in the intermediary market.
“PMS has demonstrated through its rebranding and diversification that it plans to remain a leading player in the industry for years to come and we look forward to seeing evidence of this in the future”.