Service is the problem for HSBC, says Boulger

Poor service, rather than brokers, is the main barrier to HSBC achieving greater success in the mortgage market, says industry guru Ray Boulger.

Last week Mform.co.uk warned that brokers are sacrificing the best deals by not considering direct products. The website held up HSBC as an example of a lender at the top of best buy tables but with only a 6% market share.

Eamonn Rice, chief executive of Mform.co.uk, says: “We believe HSBC has not secured the share it deserves because there is no financial incentive for brokers to recommend its deals.”

But Boulger, senior technical manager at John Charcol, says: ” HSBC has not had the staff to support its Rate Matcher deal, although this may have changed by now.”