TMB is added to Freehold panel

Freehold scored a coup last week after signing The Mortgage Business to its panel despite allegations of a conflict of interest.

Terry Pritchard, spokesman for Freehold, came under fire recently following his appointment as packager consultant for edeus. Some sources say lenders are concerned about doing business with Freehold because they feel there is a chance commercially sensitive information could get back to edeus.

But Pritchard says TMB’s appointment should dispel any fears about Freehold’s impartiality.

He adds: “We want TMB as a lender partner as its main focus is the packager market. It has always made it clear that packagers are its focus of distribution and it has proved this.”

He adds: “My role at edeus is a strategic position – it has no effect on my position at Freehold.”

Nigel Payne, managing director of TMB, adds: “This establishes us as the lender for packagers. We have been talking to Pritchard since he took up the Freehold role and this move will add value to the work Freehold does.

“We already do a lot of work with some of its members and this move simply formalises the strong relationship we have with those packagers.”

TMB’s appointment is especially poignant as sister HBOS lender BM Solutions was the previous employer of edeus founder Michael Bolton and most of its senior management team.

Pritchard’s role at edeus was once held by Peter Charge, formerly director of sales and marketing at TMB.