For a 150 year old mutual, Lambeth is surprisingly progressive. Having decided to compete in the broker market a number of years ago, it has managed to leverage its mutual status to create competitive products and deliver good service to the broker community. Its site is as good as any I have seen and certainly one of the best of the mutuals.
The ubiquitous yellow and blue of the Leeds website gives it a vibrant, feel. Another large mutual with a strong foothold in the broker market, Leeds markets itself well. There is a dedicated broker section plus thumbnail downloads and Spanish lending and commercial lending opportunities.
The Lambeth website is clean and crisp. If anything it doesn’t make enough of the graphics but it is easy to navigate and there is a dedicated intermediary section. From a marketing perspective the website presents a compelling case and there are a handful of downloads as well as some interactive tools to reinforce the proposition. This should be further strengthened with the recent merger of Lambeth and Portman – an inevitable consequence of regulation and economies of scale. This is good news for the broker market as both these lenders have good reputations in the broker sector and their combined size can only help in competing with the big boys.
The Leeds website is another example of a mutual lender taking the market – and in particular the broker sector – seriously. The website is quick and easy to navigate with lots of content. The more time I spent on the site the more I found.
Leeds has also ventured into some interesting areas not usually the bastions of mutuals. It has an established Spanish lending operation as well as commercial and euro mortgage facilities and a range of offshore investment bond opportunities. I particularly liked the thumbnails of the downloads that are available and the product range is impressive. With buy-to-let, Right to Buy, fast-track up to 80%, guarantor cases and much more, this is a lender exploiting every niche and doing it competitively.