TSB hails brokers a year after launch

Sarah Davidson

January 19, 2016

Brokers have referred 18,000 borrowers to TSB in just 12 months prompting the bank to praise the intermediary community.

The lender, which initially launched through its direct branch channels only, launched TSB Intermediary a year ago today.

Since then it has seen the number of brokers contacting its broker hotline grow by more than 400% over the year from 1,600 broker calls in its first month to more than 8,000 in November.

Roland McCormack, TSB’s mortgage intermediary director, said: “I’d like to thank all our TSB partners for their dedication to building our business over the past year and most importantly, all of the brokers who have supported us.

“TSB was born to bring competition to the market and we’re already proving to be a significant player in the intermediary space.

“I made a promise when we launched that we wouldn’t ever sacrifice our service standards for volume, and we’ve stuck to our guns on that, working extremely hard to provide a stand out service to brokers.”

TSB confirmed it now works with 8,000 brokers across the residential and buy-to-let markets in England, Wales and Scotland and claimed research showed that 92% of those told the bank they “trust its service”.

McCormack said this was down to excellent service standards – on average the lender’s new mortgage enquiry line answered calls in 2.4 seconds while the average application to offer time is 12.9 days.

McCormack added: “I firmly believe that you can copy systems and products but you can’t replicate people and the service they deliver.

“It’s clear our people are what has made this year so successful for TSB Intermediary.”

The bank has 24 BDMs working across Britain.

Its parent company Banco Sabadell, which bought the bank out last Summer, is due to report annual results next week.

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