Kevin Tunnicliffe, the conveyancing portal’s chief executive, reckoned conveyancing firms that are linked to lenders fail to represent clients’ interests.
The packager said brokers previously found it hard to explain to clients why they are being charged more.
In response TSB wrote to brokers warning them what was happening.
The new bridging introducer is based in London and will act as an introducer for bridging, development and auction finance in the UK.
The Bill was originally brought to Parliament in June 2015.
An audience member ridiculed the regulator for spending £60,000 on a new logo “with a little coloured box round the C” before questioning why Bailey was given a £65,000 bonus.
Rates start from 0.44% and are initially available through a selected broker panel.
Bailey, who was in a press briefing after the regulator’s annual public meeting, sent out the message that a one man advice firm won’t be expected to have the same standards as an international bank.