View more on these topics

TSB pilots buy-to-let proposition through L&C ahead of wider rollout

TSB is piloting its buy-to-let proposition with London & Country ahead of a wider rollout later this year.

However, the lender says it has not yet decided when it will extend the distribution of its buy-to-let range.

TSB intermediary director Roland McCormack says: “We’re piloting our buy-to-let mortgages through London & Country. The team there is offering great support in helping us iron out any creases before we roll out more widely.

“Following the success of our homebuyer and remortgage rollouts, this marks the next phase of our strategy to provide brokers with a different sort of intermediary service.”

L&C director Pat Bunton says: “We are very happy to be working with TSB following a hugely successful mainstream residential launch. 

“It is great to have a new lender with some lending appetite operating in this space.”

The lender opened up its residential distribution to nine major distributors and 73 directly authorised firms in January, following a pilot with L&C.

TSB, which last month confirmed it had been bought by Spanish bank Sabadell for £1.7bn, was created in September 2013 when Lloyds Banking Group floated 631 branches to comply with European Commission requirements.

It took a 0.7 per cent share of the market in 2014, its first as a standalone lender, having lent a total of £1.47bn.

 

Recommended

Handshake-Business-Finance-Deal-Corporate-700.jpg

NACFB pilots commercial broker apprenticeship scheme

The National Association of Commercial Finance Brokers is piloting its first-ever apprenticeship scheme in collaboration with Hitachi Capital Business Finance. In the first year only one candidate will be put through the scheme, although more may be put through training once the pilot has completed. HCBF will cover the cost of the training, which will include […]

Ballot-Box-Vote-700.jpg

Election 2015: What are the key manifesto pledges affecting financial services?

With the general election now only weeks away, Mark Sands, politics reporter for Mortgage Strategy’s sister title, Money Marketing, details the manifesto pledges affecting financial services. Housing The need for housing has driven all the major parties to pledge increases in construction. However, housing is a devolved area, meaning the Welsh Assembly and Scottish Parliament […]

forsale,jpg

Rightmove: Asking prices up 4.7% year-on-year

The average UK asking price rose 4.7 per cent year-on-year to £286,133 in April, according to Rightmove. The annual rate of inflation fell from 5.4 per cent in March but April’s average asking price is the highest on record. On a monthly basis, asking prices were up 1.6 per cent, a rise of £4,381 in […]

Business-Handshake-Finance-Deal-700.jpg

GE Capital puts lending unit up for sale in slimmed-down change of focus

GE Capital has put its specialist lending subsidiary, GE Money Home Lending, up for sale. In a note to brokers last week, the firm said it plans to reduce its size and concentrate on its industrial and manufacturing businesses. The note said: “GE Money Home Lending is among the platforms targeted for disposition.We anticipate being […]

Thumbnail

Trust me, I’m a provider

By Craig Paterson, Underwriting and Claims Philosophy Manager, Royal London Hard-hitting headlines “Dying mother of two is refused life insurance payout.”1 “What a way to treat a dying man: Grandfather refused life insurance claim.”2 “A widow betrayed by a life insurance company.”3 With headlines like these, it’s no wonder some consumers don’t trust providers. Trust […]

Newsletter

News and expert analysis straight to your inbox

Sign up