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TSB rolls out intermediary service

Sarah Davidson

January 19, 2015

The bank said it hopes to ‘shake up’ the broker market after it completed a successful pilot with fee free broker London and Country in December.

TSB has pledged to avoid dual pricing, while it also said it won’t leave brokers hanging, as calls to relationship managers will be returned within three hours while brokers sending emails before 5pm will get a response on the same day.

Roland McCormack, TSB’s mortgage intermediary director, said: “TSB was born to bring competition to the market and we will be a substantial intermediary player.

“We’re dedicated to providing a great service to brokers and competitive mortgages for their customers.

“However, service is our number one priority and we aren’t prepared to sacrifice for volume which is why we’re looking to grow organically.”

Products include 90% LTV 2-year fixes at 3.69% for homemovers and 3.39% for first-time buyers with a £995 fee, or no fee equivalents at 3.99% and 3.79%

Other products include a 60% LTV 2-year fix at 1.49% with a £1,995 fee and 85% LTV fee free 10-year fix at 4.29% for homemovers.

TSB took up new premises in Bristol in late November 2014, moving to Almondsbury Business Park from Prince Street in Bristol city centre.

The move is said to support the creation of TSB Intermediary by accommodating the bank’s 300 partners based in the city including marketing, finance, HR and communication teams, as well as housing the additional 150 mortgage intermediary roles.

McCormack added: “You can copy systems but you can’t replicate people.

“This is why we have built an intermediary business with the focus on recruiting experts who care about providing a standout service to brokers.

“In doing so, we will provide mortgage brokers with the tools they need to help people buy their homes – making the process, from start to finish, as simple and transparent as possible.”


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