RBS relaunches intermediary arm with new distribution deal

Royal Bank of Scotland has relaunched RBS Intermediary Partners.

Its mortgage products will be distributed through appointed representatives of Tenet Group and Personal Touch Financial Services. There are no plans to expand its distribution at this time.

The new intermediary division, which will go on to become the broker arm of resurrected banking brand Williams & Glyn’s, is being headed up by Alasdair McDonald and launched on 2 December.

For the past six years, McDonald has held senior national account manager and business development manager roles within NatWest Intermediary Solutions.

Prior to this he spent seven years at Intelligent Finance, first as a business development manager and then as a national account manager. Between 1989 and 2000 he held various sales and marketing roles at Newcastle Building Society.

McDonald says: “We have an experienced team of mortgage professionals ready to work with intermediaries from Tenet Group and Personal Touch in offering customers an additional route to applying for a mortgage with RBS Group.

“I’m excited by the prospect of working with our intermediary partners and look forward to helping as many customers as we can with their mortgage.” 

PTFS head of lending Neil Hoare says: “We are delighted to be working with RBS IP in their return to intermediary lending.  For members of our network this means greater support and focus along with products that closely meet their clients’ needs.”

In July, Mortgage Strategy revealed the RBS IP brand was being resurrected and then, in October, we revealed the business would be included as part of the 314 branches being transferred to Williams & Glyn’s. RBS was required to sell the so-called Rainbow business as a condition of receiving state aid.

W&G was established in 1970, when RBS merged its two subsidiaries in England and Wales, Williams Deacon’s Bank and Glyn, Mills & Co. It ceased to be a presence in the UK in 1985 when Williams & Glyn’s was fully absorbed into RBS and ceased to trade separately.